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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities    
Net income (loss) from operations $ 856,000 $ (884,000)
Non-cash charges:    
Depreciation and amortization 1,383,000 1,309,000
Amortization of other intangible assets 702,000 800,000
Amortization of debt issue costs 95,000 64,000
Amortization of consideration payable to customer 122,000 0
Provision for doubtful accounts 121,000 66,000
Stock-based compensation 196,000 80,000
Restricted stock-based compensation 45,000 38,000
(Gain) loss on sale of fixed assets (1,000) 21,000
Deferred income taxes 253,000 912,000
Fair value increase in contingent consideration 150,000 158,000
Changes in operating assets and liabilities:    
Accounts receivable 482,000 (1,384,000)
Inventories (901,000) 1,913,000
Prepaid expenses and other current assets 83,000 1,857,000
Other assets (988,000) 45,000
Accounts payable 317,000 40,000
Accrued compensation and benefits 395,000 120,000
Accrued other liabilities (324,000) (502,000)
Other liabilities (20,000) (19,000)
Total adjustments 2,110,000 5,518,000
Net cash provided by operating activities 2,966,000 4,634,000
Cash Flows from Investing Activities:    
Capital expenditures (1,878,000) (910,000)
Proceeds from disposal of assets 26,000 12,000
Purchase of net assets of Jiffy Air Tool, Inc. 0 (6,845,000)
Purchase of patents 0 (200,000)
Net cash used in investing activities (1,852,000) (7,943,000)
Cash Flows from Financing Activities:    
Dividend payments (723,000) (722,000)
Proceeds from exercise of stock options 806,000 62,000
Purchase of Class A Common Stock (1,516,000) (358,000)
Net proceeds from short-term borrowings 168,000 1,928,000
Repayments of notes payable (47,000) (14,000)
Payments of debt issue costs (3,000) (84,000)
Net cash (used in) provided by financing activities (1,315,000) 812,000
Effect of exchange rate changes on cash (41,000) 39,000
Net decrease in cash (242,000) (2,458,000)
Cash at beginning of year 1,241,000 3,699,000
Cash at end of year 999,000 1,241,000
Supplemental disclosures of cash flow information:    
Cash paid for: Interest 130,000 97,000
Cash paid for: Income taxes 86,000 409,000
Supplemental disclosures of non-cash investing and financing activities:    
Contingent consideration on acquisition 0 692,000
Capital expenditures financed $ 400,000 $ 0