XML 40 R6.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 5,798,000 $ 911,000
Non-cash charges:    
Depreciation and amortization 1,148,000 1,020,000
Amortization of other intangible assets 514,000 531,000
Amortization of operating leased assets 363,000 0
Amortization of debt issue costs 18,000 71,000
Amortization of consideration payable to a customer 202,000 42,000
(Recovery of) provision for losses on accounts receivable - net (60,000) 242,000
Stock-based compensation 89,000 169,000
Gain on sale of property and equipment (7,817,000) (6,000)
Restricted stock-based compensation 39,000 32,000
Deferred income taxes 332,000 292,000
Fair value increase in contingent consideration 0 86,000
Changes in operating assets and liabilities:    
Accounts receivable 25,000 (2,914,000)
Inventories (2,771,000) (618,000)
Prepaid expenses and other current assets (314,000) 185,000
Other assets (1,000) 0
Accounts payable 600,000 582,000
Accrued compensation and benefits (594,000) 73,000
Accrued other liabilities 915,000 (89,000)
Operating lease liabilities (383,000) 0
Other liabilities (16,000) (15,000)
Total adjustments (7,711,000) (317,000)
Net cash (used in) provided by operating activities (1,913,000) 594,000
Cash Flows from Investing Activities:    
Capital expenditures (1,240,000) (1,757,000)
Payments of contingent consideration (1,000,000) 0
Proceeds from disposal of property and equipment 8,767,000 25,000
Net cash provided by (used in) investing activities 6,527,000 (1,732,000)
Cash Flows from Financing Activities:    
Dividend payments (474,000) (544,000)
Proceeds from exercise of stock options 0 737,000
Purchase of Class A common stock (3,518,000) (589,000)
Net (payment) proceeds from short-term borrowings (307,000) 1,679,000
Proceeds from long-term debt 0 400,000
Repayments of long-term debt (453,000) (27,000)
Bank finance costs (33,000) (3,000)
Net cash (used in) provided by financing activities (4,785,000) 1,653,000
Effect of exchange rate changes on cash (19,000) (27,000)
Net (decrease) increase in cash (190,000) 488,000
Cash at beginning of period 999,000 1,241,000
Cash at end of period 809,000 1,729,000
Supplemental disclosures of cash flow information:    
Interest 135,000 83,000
Income taxes 1,341,000 77,000
Cash paid for amounts included in the measurement of operating lease liabilities 26,000 0
Noncash information:    
Right of Use ("ROU") assets recognized for new operating lease liabilities 2,500,000 0
Operating lease liability related to ROU assets recognized upon adoption of ASC 842 $ 418,000 $ 0