XML 56 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 17,178 $ 24,268 $ 20,937
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 16,957 17,643 17,016
Amortization of debt issue costs 547 824 809
(Gain) loss on disposals of property, plant and equipment 5 (17) (36)
Allowance for doubtful accounts 177 98 140
Compensation expense from issuance of restricted stock and incentive stock options 2,239 1,788 828
Deferred income tax expense (benefit) 3,331 (7,067) (968)
Capitalized interest and non-cash interest   (173) (210)
Non-cash restructuring and impairment charges   967  
Changes in operating assets and liabilities:      
Accounts receivable (6,284) 15,330 (7,539)
Inventories (7,232) 238 (7,079)
Other current assets 1,577 (1,568) (2,077)
Other non-current assets (802) (21) 7
Accounts payable 2,577 (11,630) (4,790)
Other liabilities 1,481 (3,322) (2,083)
Net cash provided by operating activities 31,751 37,358 14,955
Cash flows from investing activities:      
Acquisition of property, plant and equipment (15,250) (17,089) (20,329)
Proceeds from disposals of property, plant and equipment   366 255
Cash lost in deconsolidation of Eltmann     (979)
Proceeds received from long-term note receivable   1,945  
Net cash used by investing activities (15,250) (14,778) (21,053)
Cash flows from financing activities:      
Debt issue costs paid   (862) (453)
Dividends Paid (3,129)    
Proceeds from long-term debt, net     20,000
Repayment of long-term debt, net (33,715) (7,914) (16,014)
Proceeds (repayment) of short-term debt, net 676 (701) 789
Proceeds from issuance of stock and exercise of stock options 4,013 22 2,382
Principal payments on capital lease (136) (119) (66)
Net cash provided by (used by) financing activities (32,291) (9,574) 6,638
Effect of exchange rate changes on cash flows (161) 1,448 (1,560)
Net change in cash and cash equivalents (15,951) 14,454 (1,020)
Cash and cash equivalents at beginning of year 18,990 4,536 5,556
Cash and cash equivalents at end of year 3,039 18,990 4,536
Supplemental schedule of non-cash investing and financing activities:      
Compensation expense for stock awards, ($802 in 2013, $695 in 2012, and $348 in 2011) and stock option expense ($1,437 in 2013, $1,093 in 2012, and $480 in 2011) included in stockholders' equity 2,239 1,788 828
Acquired land and building through a 20 year capital lease not included in investing activities above      1,948
Interest 1,777 3,130 3,869
Income taxes $ 3,986 $ 5,882 $ 6,516