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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,441,000 $ 844,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 634,000 664,000
Non-cash operating lease expense 152,000 137,000
Provision (recovery) for doubtful accounts 30,000 (23,000)
Deferred taxes 122,000 64,000
Foreign currency transaction gains 6,000 (381,000)
Share-based compensation 334,000 272,000
Unrealized (gain) loss on available-for-sale equity security (17,000) 18,000
Changes in operating assets and liabilities:    
Accounts and trade notes receivable (1,124,000) 1,841,000
Inventories (721,000) (2,086,000)
Prepaid expenses and other assets (73,000) (111,000)
Accounts payable 2,703,000 1,348,000
Advance customer payments and other (120,000) 51,000
Accrued expenses (738,000) 14,000
Operating leases (211,000) (200,000)
Net cash provided by operating activities 2,418,000 2,452,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of available-for-sale marketable securities 2,597,000 3,106,000
Purchases of available-for-sale marketable securities (2,767,000) (5,294,000)
Additions to equipment and leasehold improvements (650,000) (129,000)
Additions to patents (34,000) (17,000)
Net cash used in investing activities (854,000) (2,334,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 57,000 85,000
Net cash provided by financing activities 57,000 85,000
Effects of exchange rate changes on cash and cash equivalents 11,000 30,000
Net decrease in cash and cash equivalents 1,632,000 233,000
Cash and cash equivalents – beginning of period 8,399,000 5,836,000
Cash and cash equivalents – end of period $ 10,031,000 $ 6,069,000