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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 1,026 $ 3,108 $ 3,320
Adjustments required to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 1,740 1,503 1,967
Impairment of goodwill and intangible assets 2,439
Loss (gain) on sale of property and equipment 5 18 (28)
Increase in accrued interest and exchange differences on short-term and other long-term liabilities (57) (218) (673)
Stock based compensation 258 243 373
Decrease (increase) in trade receivables, net 1,487 6,261 (9,936)
Decrease (increase) in unbilled accounts receivable 1,395 (1,570) (1,928)
Decrease (increase) in other accounts receivable and prepaid expenses 221 (151) 235
Decrease (increase) in inventories 1,200 (635) (88)
Increase in deferred income taxes (1,722) (51) (943)
Decrease (increase) in long-term trade receivables 319 (387) 416
Increase (decrease) in trade payables 857 (2,934) 2,666
Increase (decrease) in other accounts payable and accrued expenses and deferred revenues (1,010) (483) 3,065
Increase (decrease) in customer advances 3,351 1,385 (2,740)
Accrued severance pay, net (137) (631) 145
Net cash provided by (used in) operating activities 8,933 5,458 (1,710)
Cash flows from investing activities:      
Investment in short-term deposits (27,868) (592) (27,291)
Proceeds from sale of short-term bank deposits 5,777 25,371
Release of long-term bank deposits and restricted deposit 13 1,985 2,822
Investment in restricted deposit (1,031)
Proceeds from sale of property and equipment 93 104 81
Purchase of property and equipment (797) (876) (737)
Investment in know-how and patents (31) (1) (14)
Payments for acquisition of Aimetis, net of cash acquired (1) (12,113)
Payments for acquisition of a fiber company, net of cash acquired (2) (3,875)
Net cash provided by (used in) investing activities (41,734) 6,397 (3,643)
Cash flows from financing activities:      
Proceeds from issuance of shares, net of issuance costs of $ 201 23,617
Short-term bank credit, net (2,573) (2,795)
Principal payment of long-term bank loans (1,899) (502)
Proceeds from issuance of shares upon exercise of options to employees 1,389 504 464
Issue of shares to non-controlling interests 50
Net cash provided by (used in) financing activities 25,006 (3,968) (2,783)
Effect of exchange rate changes on cash and cash equivalents 168 (2,170) (2,497)
Increase (decrease) in cash and cash equivalents (7,627) 5,717 (10,633)
Cash and cash equivalents at the beginning of the year 27,319 21,602 32,235
Cash and cash equivalents at the end of the year 19,692 27,319 21,602
Cash paid during the year for:      
Interest 27 116 166
Income taxes $ 1,677 $ 753 $ 516