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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 15,874 $ 14,572
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 3,684 3,236
Stock-based compensation 804 902
Amortization of deferred financing costs 26 33
Deferred tax benefit (1,676) (1,137)
Net unrealized (gains)/losses on foreign currency revaluation (647) 199
Other, net (71) 465
Changes in operating assets and liabilities:    
Accounts receivable 725 (1,316)
Unbilled receivables 3,644 3,175
Inventories 5,688 7,652
Accounts payable (7,575) (4,831)
Accrued expenses (16,440) (6,417)
Accrued restructuring costs (1,254) 2,590
Income taxes payable 4,971 3,931
Other operating assets/liabilities, net (1,603) (6,219)
Net cash provided by operating activities 6,150 16,835
Cash flows from investing activities:    
Purchases of property, plant and equipment (2,929) (3,761)
Purchases of held to maturity and marketable securities (42,726) 0
Proceeds from held to maturity securities 30,374 0
Payment for equity method investment 0 (9,975)
Investment in related party notes receivable (492) 0
Proceeds from disposal/sale of property, plant and equipment 192 25
Net cash used in investing activities (15,581) (13,711)
Cash flows from financing activities:    
Dividends paid to common stockholders (837) (829)
Borrowings under revolving credit line 0 5,000
Purchases of common stock (6,283) 0
Net cash (used in) provided by financing activities (7,120) 4,171
Effect of exchange rate changes on cash and cash equivalents (1,500) 279
Net (decrease) increase in cash and cash equivalents (18,051) 7,574
Cash and cash equivalents - beginning of period 89,371 70,266
Cash and cash equivalents - end of period 71,320 77,840
Supplementary information:    
Income taxes, net of refunds received 978 976
Interest payments 981 1,415
ROU assets obtained in exchange for lease obligations $ 2,951 $ 380