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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES:    
Net income $ 5,544 $ 5,128
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 4,655 4,121
Amortization of deferred financing costs 2 4
Deferred income taxes 990 1,246
(Gain) loss on disposition of property, plant and equipment (13) 386
Stock-based compensation 379 309
Changes in operating assets and liabilities:    
Trade receivables, net (200) (3,108)
Inventories, net (146) 25
Prepaid expenses and other current assets 249 216
Other assets 14 31
Accounts payable and accrued expenses 21 (899)
Other liabilities 13 15
Net cash provided by operating activities 11,508 7,474
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (6,106) (5,684)
Proceeds from sale of property, plant and equipment 16 142
Net cash used in investing activities (6,090) (5,542)
FINANCING ACTIVITIES:    
Cash dividends paid (899) (757)
Proceeds from exercise of stock options 81  
Purchase of treasury shares (64) (52)
Net cash used in financing activities (882) (809)
Net increase in cash and cash equivalents 4,536 1,123
Cash and cash equivalents at beginning of period 54,260 67,218
Cash and cash equivalents at end of period $ 58,796 $ 68,341