XML 17 R6.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 5,662,000 $ 370,000
Non-cash charges:    
Depreciation and amortization 774,000 660,000
Amortization of other intangible assets 344,000 359,000
Amortization of debt issue costs 17,000 50,000
Amortization of consideration payable to a customer 135,000 0
(Recovery of) provision for losses on accounts receivable - net (61,000) 95,000
Stock-based compensation 62,000 120,000
Loss on sale of fixed assets 5,000 0
Gain on sale of property and equipment (7,817,000) (6,000)
Restricted stock-based compensation 26,000 18,000
Deferred income taxes 364,000 99,000
Fair value increase in contingent consideration 0 57,000
Changes in operating assets and liabilities:    
Accounts receivable 48,000 (250,000)
Inventories (1,255,000) (1,332,000)
Prepaid expenses and other current assets (214,000) (267,000)
Other assets (136,000) 0
Accounts payable 149,000 1,866,000
Accrued compensation and benefits (1,040,000) (603,000)
Accrued other liabilities 1,751,000 (397,000)
Other liabilities (76,000) (10,000)
Total adjustments (6,652,000) 459,000
Net cash (used in) provided by operating activities (990,000) 829,000
Cash Flows from Investing Activities:    
Capital expenditures (920,000) (1,224,000)
Proceeds from disposal of property and equipment 8,760,000 25,000
Net cash provided by (used in) investing activities 7,840,000 (1,199,000)
Cash Flows from Financing Activities:    
Dividend payments (317,000) (359,000)
Proceeds from exercise of stock options 0 737,000
Purchase of Class A common stock (3,467,000) (430,000)
Proceeds from notes payable   400,000
Net (payment) proceeds from short-term borrowings (1,915,000) 311,000
Repayments of long-term debt (453,000) (7,000)
Bank finance costs (25,000) (15,000)
Net cash (used in) provided by financing activities (6,177,000) 637,000
Effect of exchange rate changes on cash   (20,000)
Net increase in cash 673,000 247,000
Cash at beginning of period 999,000 1,241,000
Cash at end of period 1,672,000 1,488,000
Supplemental disclosures of cash flow information:    
Cash paid for: Interest 112,000 44,000
Cash paid for: Income taxes 0 21,000
Cash paid for amounts included in the measurement of operating lease liabilities 21,000 0
Noncash information:    
Right of Use ("ROU") assets recognized for new operating lease liabilities 2,074,000 0
Operating lease liability related to ROU assets recognized upon adoption of ASC 842 $ 2,319,000 $ 0