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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities:    
Net income (loss) $ 911,000 $ (38,000)
Non-cash charges:    
Depreciation and amortization 1,020,000 975,000
Amortization of other intangible assets 531,000 620,000
Amortization of debt issue costs 71,000 42,000
Amortization of costs for contribution to customer 42,000 0
Provision for (recovery of) losses on accounts receivable - net 242,000 (12,000)
Stock-based compensation 169,000 20,000
Restricted stock-based compensation 32,000 30,000
Gain on sale of fixed assets (6,000) (8,000)
Deferred income taxes 292,000 142,000
Fair value increase in contingent consideration 86,000 14,000
Changes in operating assets and liabilities:    
Accounts receivable (2,914,000) (2,252,000)
Inventories (618,000) 1,468,000
Prepaid expenses and other current assets 185,000 2,154,000
Other assets 0 45,000
Accounts payable 582,000 842,000
Accrued compensation and benefits 73,000 (129,000)
Accrued other liabilities (89,000) (623,000)
Other liabilities (15,000) (14,000)
Total adjustments (317,000) 3,314,000
Net cash provided by operating activities 594,000 3,276,000
Cash Flows from Investing Activities:    
Capital expenditures (1,757,000) (444,000)
Purchase of net assets of Jiffy Air Tool, Inc. 0 (6,845,000)
Purchase of patents 0 (200,000)
Proceeds from disposal of assets 25,000 8,000
Net cash used in investing activities (1,732,000) (7,481,000)
Cash Flows from Financing Activities:    
Dividend payments (544,000) (542,000)
Proceeds from exercise of stock options 737,000 62,000
Purchase of Class A common stock (589,000) (89,000)
Net proceeds from short-term borrowings 1,679,000 2,334,000
Proceeds from long-term debt 400,000 0
Repayments of long-term debt (27,000) (14,000)
Payment of debt issue costs (3,000) (74,000)
Net cash provided by financing activities 1,653,000 1,677,000
Effect of exchange rate changes on cash (27,000) 34,000
Net increase (decrease) in cash 488,000 (2,494,000)
Cash at beginning of period 1,241,000 3,699,000
Cash at end of period 1,729,000 1,205,000
Supplemental disclosures of cash flow information:    
Cash paid for: Interest 83,000 74,000
Cash paid for: Income taxes 77,000 342,000
Supplemental disclosures of non-cash investing and financing activities:    
Contingent consideration on acquisition $ 0 $ 692,000