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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,937 $ 2,350
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 252 160
Inventory reserves 249 150
Stock-based compensation 497 140
Non-cash lease expense (10) 153
Provision for deferred income taxes (473) 786
Change in operating assets and liabilities:    
Accounts receivable (716) (355)
Prepaid and other assets (819) (170)
Accounts payable and other accrued liabilities 162 (204)
Inventory (1,501) (366)
Deposits 54 0
Other long-term obligations 0 (880)
Net cash provided by operating activities 632 1,764
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (297) (46)
Net cash used in investing activities (297) (46)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on finance lease obligations (11) (4)
Common stock cash dividends 0 (2,259)
Purchase of treasury stock 0 (171)
Proceeds from the issuance of common stock 221 7
Net cash used in financing activities 210 (2,427)
Net increase in cash and cash equivalents 545 (709)
Cash and cash equivalents at beginning of period 14,040 10,128
Cash and cash equivalents at end of period 14,585 9,419
Supplemental disclosure of cash flow information:    
Cash paid for interest (4) 0
Cash paid for rent (328) (206)
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 1,433 0
Inventory transferred to property and equipment under lease 187 112
Common stock dividend declared and unpaid $ 0 $ 2,259