XML 71 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities    
Net income $ 4,911,000 $ 856,000
Non-cash charges:    
Depreciation and amortization 1,566,000 1,383,000
Amortization of other intangible assets 703,000 702,000
Amortization of operating leased assets 582,000 0
Amortization of debt issue costs 23,000 95,000
Amortization of consideration payable to customer 270,000 122,000
(Recovery) provision for doubtful accounts (38,000) 121,000
Stock-based compensation 106,000 196,000
Restricted stock-based compensation 52,000 45,000
Gain on sale of fixed assets (7,817,000) (1,000)
Deferred income taxes 409,000 253,000
Impairment of assets 194,000 0
Fair value increase in contingent consideration 0 150,000
Changes in operating assets and liabilities:    
Accounts receivable 529,000 482,000
Inventories (1,714,000) (901,000)
Prepaid expenses and other current assets (339,000) 83,000
Other assets (1,000) (988,000)
Accounts payable (1,025,000) 317,000
Accrued compensation and benefits (318,000) 395,000
Accrued other liabilities 255,000 (324,000)
Operating lease liabilities (597,000) 0
Other liabilities (265,000) (20,000)
Total adjustments (7,425,000) 2,110,000
Net cash (used in) provided by operating activities (2,514,000) 2,966,000
Cash Flows from Investing Activities:    
Capital expenditures (1,524,000) (1,878,000)
Proceeds from sale real property and other assets 8,766,000 26,000
Purchase of net assets of gear businesses (3,518,000) 0
Net cash provided by (used in) investing activities 3,724,000 (1,852,000)
Cash Flows from Financing Activities:    
Dividend payments (632,000) (723,000)
Proceeds from exercise of stock options 0 806,000
Purchase of Class A common stock (3,518,000) (1,516,000)
Net proceeds from short-term borrowings 3,552,000 168,000
Payment of contingent consideration (692,000) 0
Repayments of notes payable (453,000) (47,000)
Payments of debt issue costs (72,000) (3,000)
Net cash used in financing activities (1,815,000) (1,315,000)
Effect of exchange rate changes on cash (14,000) (41,000)
Net decrease in cash (619,000) (242,000)
Cash at beginning of year 999,000 1,241,000
Cash at end of year 380,000 999,000
Supplemental disclosures of cash flow information:    
Interest 171,000 130,000
Income taxes 1,809,000 86,000
Amounts included in the measurement of operating lease liabilities 30,000 0
Noncash information:    
Contingent consideration on acquisition of gear businesses 64,000 0
Capital expenditures financed 0 400,000
Right of Use ("ROU") assets recognized for new operating lease liabilities 4,032,000 0
Operating lease liability related to ROU assets recognized upon adoption of ASC 842 $ 418,000 $ 0