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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities    
Net income $ 14,583 $ 12,167
Adjustment to reconcile net income to net cash used in operating activities:    
Provision for doubtful accounts (94) (7)
Depreciation - Property, plant and equipment 3,135 2,777
Depreciation - Rental equipment 1,405 1,407
Amortization of intangibles 881 777
Amortization of debt issuance costs 55 55
Stock-based compensation expense 458 328
Deferred income tax expense (benefit) 930 (41)
Gain on sale of property, plant and equipment (17) (67)
Changes in operating assets and liabilities:    
Accounts receivable (27,998) (25,048)
Inventories (12,291) (4,696)
Rental equipment (5,663) 1,516
Prepaid expenses and other assets (1,765) 358
Trade accounts payable and accrued liabilities (1,483) 4,776
Income taxes payable (386) 4,323
Other assets and long-term liabilities 104 (68)
Net cash used in operating activities (28,146) (1,443)
Investing Activities    
Purchase of property, plant and equipment (7,645) (2,257)
Proceeds from sale of property, plant and equipment 97 74
Net cash used in investing activities (7,548) (2,183)
Financing Activities    
Borrowings on bank revolving credit facility 90,000 66,000
Repayments on bank revolving credit facility (3,000) (9,000)
Proceeds from issuance of debt 0 460
Dividends paid (1,276) (1,146)
Proceeds from sale of common stock 266 606
Net cash provided by financing activities 85,990 56,920
Effect of exchange rate changes on cash and cash equivalents 181 575
Net change in cash and cash equivalents 50,477 53,869
Cash and cash equivalents at beginning of the period 25,373 16,793
Cash and cash equivalents at end of the period 75,850 70,662
Cash paid during the period for:    
Interest 1,123 1,485
Income taxes $ 5,066 $ 2,366