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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 69,984 $ 27,609 $ 48,898
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 18,918 18,374 16,812
Amortization of intangibles 5,267 6,083 6,663
Loss on disposal of property and equipment 553 360 332
Stock-based compensation expense 21,580 24,677 20,885
Amortization of premium on marketable securities 227 1,100 555
Deferred income taxes (4,465) 15,838 (638)
Increase (decrease) in accounts receivable allowances (28) 209 207
Change in operating assets and liabilities:      
Accounts receivable 5,754 (10,479) 751
Inventories (23,770) (4,523) (630)
Prepaid expenses and other assets (1,495) (17,646) (2,524)
Accounts payable 1,336 396 7,714
Taxes payable and accrued liabilities (9,897) 20,041 (1,124)
Net cash provided by operating activities 83,964 82,039 97,901
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (24,677) (32,496) (12,198)
Acquisition of technology licenses (900) 0 0
Purchases of marketable securities (62,833) (151,663) (188,654)
Proceeds from sales and maturities of marketable securities 157,551 149,443 83,423
Net cash provided by (used in) investing activities 69,141 (34,716) (117,429)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock under employee stock plans 9,353 10,020 13,059
Repurchase of common stock (103,153) (9,188) (6,435)
Payments of dividends to stockholders (18,823) (16,634) (15,054)
Proceeds from draw on line of credit 8,000 5,000 0
Payments on line of credit (8,000) (5,000) 0
Net cash used in financing activities (112,623) (15,802) (8,430)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 40,482 31,521 (27,958)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 93,655 62,134 90,092
CASH AND CASH EQUIVALENTS AT END OF PERIOD 134,137 93,655 62,134
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Unpaid property and equipment 1,818 4,913 1,825
Unpaid technology licenses 100 0 0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid (refund) for income taxes, net of refunds (Note 11) $ 7,437 $ (1,571) $ 6,613