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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 8,803 $ 21,668
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,106 17,653
Amortization of intangibles 863 1,086
Loss on disposal of property and equipment 8 22
Stock-based compensation expense 17,449 14,120
Amortization of premium (accretion of discount) on marketable securities (909) 419
Deferred income taxes (3,482) (2,782)
Increase (decrease) in accounts receivable allowance for credit losses 326 (454)
Change in operating assets and liabilities:    
Accounts receivable (2,024) (10,787)
Inventories (6,720) (14,321)
Prepaid expenses and other assets 2,072 (7,241)
Accounts payable (117) 8,813
Taxes payable and accrued liabilities 161 (5,430)
Net cash provided by operating activities 33,536 22,766
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (8,510) (7,211)
Purchases of marketable securities (77,830) (110,810)
Proceeds from sales and maturities of marketable securities 85,392 98,641
Net cash used in investing activities (948) (19,380)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock under employee stock plans 2,691 3,098
Repurchase of common stock (25,979) (5,999)
Payments of dividends to stockholders (22,736) (21,761)
Net cash used in financing activities (46,024) (24,662)
NET DECREASE IN CASH AND CASH EQUIVALENTS (13,436) (21,276)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 63,929 105,372
CASH AND CASH EQUIVALENTS AT END OF PERIOD 50,493 84,096
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unpaid property and equipment 1,306 2,713
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes, net $ 4,498 $ 11,653