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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 9,348,000 $ 4,276,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,895,000 1,899,000
Non-cash operating lease expense 435,000 384,000
Provision for doubtful accounts 244,000 43,000
Deferred taxes 865,000 289,000
Foreign currency transaction gains (45,000) (181,000)
Share-based compensation 999,000 863,000
Unrealized (gain) loss on available-for-sale equity security (14,000) 23,000
Changes in operating assets and liabilities:    
Accounts and trade notes receivable (12,208,000) (1,721,000)
Inventories (1,142,000) (6,380,000)
Prepaid expenses and other assets (663,000) (785,000)
Accounts payable 5,594,000 3,060,000
Advance customer payments and other (45,000) 208,000
Accrued expenses 487,000 1,120,000
Operating leases (632,000) (616,000)
Net cash provided by operating activities 5,118,000 2,482,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of available-for-sale marketable securities 8,682,000 9,016,000
Proceeds from sales of available-for-sale marketable securities 225,000 0
Purchases of available-for-sale marketable securities (9,462,000) (10,637,000)
Additions to equipment and leasehold improvements (1,570,000) (1,049,000)
Additions to patents (208,000) (115,000)
Net cash used in investing activities (2,333,000) (2,785,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 292,000 322,000
Tax payments for shares withheld related to stock option exercises (727,000) (420,000)
Proceeds from issuance of common stock under employee stock purchase plan 247,000 224,000
Net cash provided by (used in) financing activities (188,000) 126,000
Effects of exchange rate changes on cash and cash equivalents 9,000 6,000
Net increase (decrease) in cash and cash equivalents 2,606,000 (171,000)
Cash and cash equivalents – beginning of period 8,399,000 5,836,000
Cash and cash equivalents – end of period $ 11,005,000 $ 5,665,000