XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,550,000 $ 2,477,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,292,000 1,304,000
Non-cash operating lease expense 287,000 272,000
Provision (recovery) for doubtful accounts 174,000 (9,000)
Deferred taxes 388,000 (48,000)
Foreign currency transaction losses (gains) 16,000 (305,000)
Share-based compensation 671,000 558,000
Unrealized (gain) loss on available-for-sale equity security (12,000) 18,000
Changes in operating assets and liabilities:    
Accounts and trade notes receivable (7,303,000) 1,357,000
Inventories (3,493,000) (5,006,000)
Prepaid expenses and other assets (117,000) (782,000)
Accounts payable 6,024,000 2,666,000
Advance customer payments and other 133,000 319,000
Accrued expenses 456,000 780,000
Operating leases (409,000) (395,000)
Net cash provided by operating activities 2,657,000 3,206,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of available-for-sale marketable securities 6,083,000 6,216,000
Proceeds from sales of available-for-sale marketable securities 225,000 0
Purchases of available-for-sale marketable securities (6,775,000) (7,980,000)
Additions to equipment and leasehold improvements (936,000) (477,000)
Additions to patents (159,000) (41,000)
Net cash used in investing activities (1,562,000) (2,282,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 67,000 256,000
Tax payments for shares withheld related to stock option exercises 0 (420,000)
Net cash provided by (used in) financing activities 67,000 (164,000)
Effects of exchange rate changes on cash and cash equivalents 6,000 13,000
Net increase in cash and cash equivalents 1,168,000 773,000
Cash and cash equivalents – beginning of period 8,399,000 5,836,000
Cash and cash equivalents – end of period $ 9,567,000 $ 6,609,000