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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES:    
Net income $ 81,849 $ 57,549
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 18,125 17,783
Amortization of deferred financing costs 2 9
Deferred income taxes (825) (319)
Gain on disposition of property, plant and equipment (46) (85)
Stock-based compensation 3,590 2,396
Changes in operating assets and liabilities:    
Trade receivables, net (14,853) (10,469)
Inventories (3,470) (4,199)
Prepaid expenses and other current assets 1,891 1,185
Other assets 17 (159)
Accounts payable and accrued expenses 1,214 949
Other liabilities (80) 42
Net cash provided by operating activities 87,414 64,682
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (16,371) (20,541)
Proceeds from sale of property, plant and equipment 344 2,180
Net cash used in investing activities (16,027) (18,361)
FINANCING ACTIVITIES:    
Cash dividends paid (4,287) (3,415)
Proceeds from exercise of stock options 130 113
Purchase of treasury shares (172) (98)
Net cash used in financing activities (4,329) (3,400)
Net increase in cash and cash equivalents 67,058 42,921
Cash and cash equivalents at beginning of period 187,964 133,384
Cash and cash equivalents at end of period $ 255,022 $ 176,305