XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 5,767 $ 4,801
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,874 2,796
(Gain) Loss on sale of fixed assets (55) 3
Share-based compensation 691 636
Deferred income taxes 688 160
Changes in operating assets and liabilities:    
Receivables, net (4,414) (1,057)
Inventories (1,451) 56
Prepaid expenses (149) (174)
Refundable income taxes 401 798
Other assets (248) (63)
Accounts payable 2,907 (103)
Accrued expenses (1,578) (136)
Deferred revenue 859 67
Non-qualified deferred compensation plan and other liabilities 155 142
Net cash provided by operating activities 7,447 7,926
Cash flows from investing activities:    
Additions to property, plant, and equipment (2,991) (4,471)
Acquisition of Dielectrics, net of cash acquired (76,978)
Proceeds from sale of fixed assets 68 6
Net cash used in investing activities (79,901) (4,465)
Cash flows from financing activities:    
Proceeds from advances on revolving line of credit 36,000
Payments on revolving line of credit (15,000)
Proceeds from the issuance of long-term debt 20,000
Principal repayments of long-term debt (1,429) (514)
Proceeds from exercise of stock options, net of shares presented for exercise 964 315
Payment of statutory withholdings for stock options exercised and restricted stock units vested (144) (107)
Net cash provided by (used in) financing activities 40,391 (306)
Net (decrease) increase in cash and cash equivalents (32,063) 3,155
Cash and cash equivalents at beginning of period 37,978 31,359
Cash and cash equivalents at end of period $ 5,915 $ 34,514