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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income $ 37,690 $ 30,036
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,627 12,865
Amortization of bond premiums 0 11
Provision for losses on accounts receivable, net of adjustments 91 67
Provision for excess and obsolete inventories 1,003 55
Share-based compensation 7,858 5,614
Loss (gain) on disposal of assets 296 (9)
Foreign currency transaction gain (17) (20)
Interest income on note receivable (19) 27
Deferred 4,208 864
Changes in assets and liabilities:    
Accounts receivable (2,096) 146
Income taxes 2,234 (649)
Inventories (4,014) (7,071)
Prepaid expenses and other (513) (792)
Accounts payable 782 4,328
Deferred revenue 263 (1,644)
Accrued liabilities 5,190 364
Net cash provided by operating activities 70,583 44,192
Investing Activities    
Capital expenditures (30,831) (34,328)
Cash paid in business combination 0 (6,377)
Proceeds from sale of property, plant and equipment 68 11
Investment in certificates of deposits (6,000) (7,200)
Maturities of certificates of deposits 6,000 7,920
Purchases of investments held to maturity 0 (9,001)
Maturities of investments 0 13,320
Proceeds from called investments 0 495
Principal payments from note receivable 39 32
Net cash used in investing activities (30,724) (35,128)
Financing Activities    
Stock options exercised 11,283 3,504
Repurchase of stock (15,437) (17,500)
Employee taxes paid by withholding shares (1,023) (860)
Cash dividends paid to stockholders (8,303) (8,400)
Net cash used in financing activities (13,480) (23,256)
Net increase (decrease) in cash and cash equivalents 26,379 (14,192)
Cash and cash equivalents, beginning of period 1,994 21,457
Cash and cash equivalents, end of period $ 28,373 $ 7,265