XML 34 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating Activities    
Net income $ 21,185 $ 19,259
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 5,719 6,268
Amortization of bond premiums 389 304
Provision for losses on accounts receivable, net of adjustments (8) 102
Provision for excess and obsolete inventories, net 156 201
Share-based compensation 984 695
Excess tax benefits from stock options exercised and restricted stock awards vested (680) (385)
Gain on disposal of assets (24) (52)
Foreign currency transaction gain 0 43
Interest income on note receivable (20) (20)
Deferred income taxes (1,961) (1,966)
Write-off of note receivable 0 75
Changes in assets and liabilities:    
Accounts receivable (13,824) (6,344)
Income tax receivable 1,753 3,942
Inventories (4,624) (1,718)
Prepaid expenses and other (525) (160)
Accounts payable 3,422 1,101
Deferred revenue 378 201
Accrued liabilities 5,185 6,194
Net cash provided by operating activities 17,505 27,740
Investing Activities    
Capital expenditures (5,903) (1,949)
Proceeds from sale of property, plant and equipment 29 60
Investment in certificates of deposits (9,220) (958)
Maturities of certificates of deposits 3,904 1,440
Purchase of investments held to maturity (5,955) (9,969)
Maturities of investments 6,539 1,710
Proceeds from called investment 1,269 0
Principal payments from note receivable 35 40
Net cash used in investing activities (9,302) (9,626)
Financing Activities    
Borrowings under revolving credit facility 0 2,321
Payments under revolving credit facility 0 (2,321)
Stock options exercised 632 767
Excess tax benefits from stock options exercised and restricted stock awards vested 680 385
Repurchase of stock (5,116) (3,010)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations (3,804) (1,858)
Net increase in cash and cash equivalents 4,399 16,256
Cash and cash equivalents, beginning of period 12,085 3,159
Cash and cash equivalents, end of period $ 16,484 $ 19,415