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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 29,078 $ 18,078
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 11,069 9,431
Amortization of intangibles 2,207 2,483
Loss on disposal of property and equipment 292 152
Stock-based compensation expense 12,691 9,903
Amortization of premium (accretion of discount) on marketable securities 321 (230)
Deferred income taxes 1,279 1,659
Increase (decrease) in accounts receivable allowance for credit losses (154) 57
Change in operating assets and liabilities:    
Accounts receivable 11,556 (14,453)
Inventories (13,583) (8,340)
Prepaid expenses and other assets 4,092 (3,614)
Accounts payable 5,861 4,153
Taxes payable and accrued liabilities (1,665) 1,217
Net cash provided by operating activities 63,044 20,496
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (21,622) (8,348)
Proceeds from sale of property and equipment 331 0
Acquisition of technology licenses 0 (251)
Purchases of marketable securities (19,827) (54,424)
Proceeds from sales and maturities of marketable securities 58,962 19,422
Net cash provided by (used in) investing activities 17,844 (43,601)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock under employee stock plans 6,298 5,678
Repurchase of common stock (2,636) (7,302)
Payments of dividends to stockholders (11,915) (9,917)
Net cash used in financing activities (8,253) (11,541)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 72,635 (34,646)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 178,690 134,137
CASH AND CASH EQUIVALENTS AT END OF PERIOD 251,325 99,491
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unpaid property and equipment 13,932 2,098
Unpaid technology licenses 0 100
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid (received) for income taxes, net $ (2,155) $ 890