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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES:    
Net income $ 48,496 $ 36,816
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 12,017 11,811
Amortization of deferred financing costs 2 4
Deferred income taxes (401) (453)
Gain on disposition of property, plant and equipment (53) (47)
Stock-based compensation 2,387 1,608
Changes in operating assets and liabilities:    
Trade receivables, net (8,232) (7,143)
Inventories (2,987) (2,771)
Prepaid expenses and other current assets 1,174 611
Other assets (1,564) (44)
Accounts payable and accrued expenses (2,430) (150)
Other liabilities (45) 31
Net cash provided by operating activities 48,364 40,273
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (11,220) (15,432)
Proceeds from sale of property, plant and equipment 292 234
Net cash used in investing activities (10,928) (15,198)
FINANCING ACTIVITIES:    
Cash dividends paid (2,857) (2,276)
Proceeds from exercise of stock options 130 113
Purchase of treasury shares (172) (98)
Net cash used in financing activities (2,899) (2,261)
Net increase in cash and cash equivalents 34,537 22,814
Cash and cash equivalents at beginning of period 187,964 133,384
Cash and cash equivalents at end of period $ 222,501 $ 156,198