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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Cash flows from operating activities:    
Net earnings (loss) $ 12,795 $ (8,743)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Impairment of goodwill 0 8,891
Depreciation and amortization 16,423 16,471
Stock-based compensation 2,318 2,888
Amortization of deferred financing costs 654 466
Deferred income taxes (1,743) (2,172)
Unrealized losses (gains) on foreign currency revaluation 2,168 (110)
Gain on sale of property, plant and equipment (1,694) (4,194)
Other, net 1,259 1,522
Changes in operating assets and liabilities, net of effects of business combination:    
Accounts receivable 5,397 19,298
Unbilled receivables 2,183 (519)
Inventories 9,690 17,087
Other current assets 4,468 (2,292)
Other assets (1,587) (1,392)
Accounts payable (6,044) (15,105)
Accrued expenses 1,021 (5,875)
Other liabilities (1,460) 8,178
Income taxes payable 260 (9,949)
Net cash provided by operating activities 46,108 24,450
Cash flows from investing activities:    
Purchase of property, plant and equipment (5,476) (9,891)
Payment for acquisition, net of cash acquired 0 (29,003)
Proceeds from disposal/sale of property, plant and equipment 3,961 5,807
Net cash used in investing activities (1,515) (33,087)
Cash flows from financing activities:    
Dividends paid to common shareholders (3,363) (3,352)
Deferred financing costs (600) 0
Borrowings under revolving credit line 0 44,000
Repayments under revolving credit line (20,000) (12,000)
Repayments of long-term debt (8,179) (2,974)
Purchase and retirement of Class A common stock 0 (448)
Net cash (used in) provided by financing activities (32,142) 25,226
Effect of exchange rate changes on cash 199 1,789
Net increase in cash and cash equivalents 12,650 18,378
Cash and cash equivalents - beginning of year 72,289 53,911
Cash and cash equivalents - end of year 84,939 72,289
Supplemental cash flow information:    
Income taxes, net of refunds received 2,649 4,686
Interest payments 4,131 4,850
Goodwill 23,966 21,993
Cash paid for acquisition, net of cash acquired (0) 29,003
BCMZ Precision Engineering Limited [Member]    
Cash flows from investing activities:    
Payment for acquisition, net of cash acquired 0 (29,003)
Supplemental cash flow information:    
Fair value of identifiable net assets acquired 0 18,909
Goodwill 0 10,287
Fair value of net assets acquired 0 29,196
Fair value of consideration transferred 0 29,196
Less: Cash acquired in acquisition (193)
Cash paid for acquisition, net of cash acquired $ 0 $ 29,003