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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,954 $ 6,875
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 8,715 8,961
Amortization of intangibles 543 543
Loss on disposal of property and equipment 8 7
Stock-based compensation expense 6,414 7,368
Amortization of premium (accretion of discount) on marketable securities (496) 404
Deferred income taxes (1,330) (738)
Increase (decrease) in accounts receivable allowance for credit losses 163 (454)
Change in operating assets and liabilities:    
Accounts receivable 2,232 705
Inventories (4,701) (7,024)
Prepaid expenses and other assets 846 (2,302)
Accounts payable 1,294 2,926
Taxes payable and accrued liabilities (1,737) (686)
Net cash provided by operating activities 15,905 16,585
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (4,343) (4,082)
Purchases of marketable securities (49,912) (36,922)
Proceeds from sales and maturities of marketable securities 54,198 22,693
Net cash used in investing activities (57) (18,311)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock under employee stock plans 2,691 3,098
Repurchase of common stock (14,641) (1,687)
Payments of dividends to stockholders (11,384) (10,868)
Net cash used in financing activities (23,334) (9,457)
NET DECREASE IN CASH AND CASH EQUIVALENTS (7,486) (11,183)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 63,929 105,372
CASH AND CASH EQUIVALENTS AT END OF PERIOD 56,443 94,189
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unpaid property and equipment 2,424 2,762
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes, net $ 410 $ 3,665