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Statements of Consolidated Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
OPERATING ACTIVITIES      
Net income $ 26,581 $ 12,654 $ 15,255
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 12,444 12,790 11,996
Provision for accounts receivable allowances 1,206 1,165 2,184
Provision for inventory reserves 2,402 1,205 2,736
Deferred income taxes 314 2,436 2,249
Share-based compensation expense 4,236 3,055 1,366
(Gain) loss on sale of property and equipment (156) 160 (20)
Other - net 192 213 539
Changes in operating assets and liabilities assets:      
Accounts receivable (4,499) (9,205) (2,292)
Inventories (13,703) (2,208) (6,354)
Trade accounts payables and accrued liabilities 3,048 4,957 4,270
Income taxes, net (1,896) 7,134 (4,999)
Contributions to company pension plan (5,340) (225) (991)
Other - net (1,853) (301) 35
NET CASH PROVIDED BY OPERATING ACTIVITIES 22,976 33,830 25,974
INVESTING ACTIVITIES      
Capital expenditures (9,528) (11,233) (24,725)
Proceeds from the sale of property and equipment 195 142 70
Purchase of marketable securities (4,690) 0 0
Proceeds from sale of marketable securities 2,953 0 0
Purchase of company owned life insurance policy (2,953) 0 0
Fixed-term deposits 0 8,527 (3,815)
NET CASH USED IN INVESTING ACTIVITIES (14,023) (2,564) (28,470)
FINANCING ACTIVITIES      
Increase (decrease) in notes payable to banks 8,446 (537) 851
Proceeds from long-term debt 76,030 55,581 70,274
Payments of long-term debt (85,496) (63,981) (57,742)
Dividends paid (4,088) (4,099) (4,170)
Excess tax benefits from share-based awards 0 0 (2)
Proceeds from issuance of common shares 222 1,962 248
Purchase of common shares for treasury (191) (2) (3,108)
Purchase of common shares for treasury from related parties (3,974) (8,475) (1,962)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (9,051) (19,551) 4,389
Effects of exchange rate changes on cash and cash equivalents (1,591) 1,359 (1,539)
Net (decrease) increase in cash, cash equivalents and restricted cash (1,689) 13,074 354
Cash, cash equivalents and restricted cash at beginning of year 45,599 [1] 32,525 [1] 32,171
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR [1] $ 43,910 $ 45,599 $ 32,525
[1] Includes restricted cash of $.3 million, $1.2 and $1.8 million for the years ended December 31, 2018, 2017 and 2016, respectively. For further information regarding restricted cash, refer to Note E, “Debt Arrangements.”