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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 9,078 $ 12,389
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,339 5,745
Provision for bad debts - accounts receivable 719 409
Share-based compensation expense 997 1,867
Deferred income tax benefit (2,136) (278)
Gain on sale of property, plant and equipment (5)
Change in fair value of acquisition-related contingent liabilities (272) (1,212)
Changes in assets and liabilities, net of acquisition of business:    
Accounts receivable - trade (12,251) (5,542)
Accounts receivable - other 481 (401)
Contract assets 11,206 (3,779)
Inventories (595) 5,742
Prepaid expenses and other current assets (7,051) (226)
Other assets (2,233) (2,343)
Accounts payable and other current liabilities 5,523 (1,077)
Long-term pension liability 1,292 292
Other long-term liabilities 750 (283)
Net cash provided by operating activities 11,842 11,303
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (6,424) (3,881)
Proceeds from disposals of property, plant and equipment 5
Acquisition of businesses, net of acquired cash (85,597)
Net cash used in investing activities (6,419) (89,478)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 125,121 170,713
Repayment of debt (123,600) (91,423)
Payment of cash dividends (4,533) (4,335)
Payment of acquisition-related contingent liability (961) (3,032)
Proceeds received on exercise of stock options 283 432
Tax benefit from vesting of acquisition-related restricted stock 30 445
Tax withholding on exercise of stock rights (17)
Common stock reacquired and retired (1,243) (268)
Net cash provided by (used in) financing activities (4,903) 72,515
Effect of currency exchange rates on cash (430) (174)
Net increase (decrease) in cash and cash equivalents 90 (5,834)
Cash and cash equivalents balance, beginning of year 5,362 8,130
Cash and cash equivalents balance, end of period $ 5,452 $ 2,296