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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income $ 60,117 $ 36,438
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,971 17,627
Amortization of debt issuance costs 31 0
Provision for credit losses on accounts receivable, net of adjustments 193 91
Provision for excess and obsolete inventories 1,776 1,003
Share-based compensation 8,546 9,854
Loss (gain) on disposal of assets (61) 296
Foreign currency transaction loss (gain) 18 (17)
Interest income on note receivable (19) (19)
Deferred 7,676 3,614
Changes in assets and liabilities:    
Accounts receivable 5,011 (2,096)
Income taxes (3,142) 2,283
Inventories (6,994) (4,014)
Prepaid expenses and other (598) (513)
Accounts payable 3,654 782
Deferred revenue 1,128 263
Accrued liabilities 688 4,991
Net cash provided by operating activities 96,995 70,583
Investing Activities    
Capital expenditures (48,955) (30,831)
Proceeds from sale of property, plant and equipment 61 68
Investment in certificates of deposits 0 (6,000)
Maturities of certificates of deposits 0 6,000
Principal payments from note receivable 38 39
Net cash used in investing activities (48,856) (30,724)
Financing Activities    
Stock options exercised 18,519 11,283
Repurchase of stock (21,390) (15,437)
Employee taxes paid by withholding shares (1,130) (1,023)
Cash dividends paid to stockholders (9,910) (8,303)
Net cash used in financing activities (13,911) (13,480)
Net increase in cash, cash equivalents and restricted cash 34,228 26,379
Cash, cash equivalents and restricted cash, beginning of period 44,373 1,994
Cash, cash equivalents and restricted cash, end of period $ 78,601 $ 28,373