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Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net income $ 12,263 $ 5,674
Adjustments to reconcile net income to net cash provided by (used in) operations:    
Depreciation and amortization 6,524 5,873
Provision for accounts receivable allowances 575 777
Provision for inventory reserves 1,455 722
Deferred income taxes (462) (790)
Share-based compensation expense 1,717 1,140
Gain on sale of property and equipment (99) (13)
Other - net 54 276
Changes in operating assets and liabilities    
Accounts receivable (7,595) (15,284)
Inventories (10,280) 539
Trade accounts payable and accrued liabilities 3,732 2,035
Income taxes - net 2,305 2,714
Other - net (2,510) (1,644)
NET CASH PROVIDED BY OPERATING ACTIVITIES 7,679 2,019
INVESTING ACTIVITIES    
Capital expenditures (5,573) (4,554)
Proceeds from the sale of property and equipment 3 1
Purchase of marketable securities (4,690) 0
Proceeds from marketable securities 2,953 0
Purchase of company owned life insurance policy (2,953) 0
Fixed-term deposits 0 6,923
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (10,260) 2,370
FINANCING ACTIVITIES    
Increase in notes payable to banks 2,055 2
Proceeds from the issuance of long-term debt 35,272 25,038
Payments of long-term debt (32,430) (31,471)
Dividends paid (2,065) (2,092)
Proceeds from issuance of common shares 252 0
Purchase of common shares for treasury (110) (238)
Purchase of common shares for treasury from related parties (1,705) (2)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 1,269 (8,763)
Effects of exchange rate changes on cash and cash equivalents (2,570) 1,642
Net decrease in cash, cash equivalents and restricted cash (3,882) (2,732)
Cash, cash equivalents and restricted cash at beginning of year 45,579 32,540
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD [1] $ 41,697 $ 29,808
[1] Includes restricted cash of $.3 million at June 30, 2018 and $1.2 million at December 31, 2017. For further information regarding restricted cash, refer to Note O, “Debt Arrangements.”