| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||
Net income | ||||||||||
53,711 | 42,329 | 53,830 | 53,376 | 45,728 | 44,158 | 37,547 | 27,449 | 13,986 | 21,894 | 27,721 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
22,766 | 17,655 | 15,007 | 13,035 | 11,741 | 11,553 | 12,312 | 13,407 | 11,397 | 9,886 | 9,061 |
Amortization of bond premiums | ||||||||||
0 | 13 | 47 | 249 | 266 | 688 | 790 | 155 | 156 | 379 | 0 |
Amortization of debt issuance costs | ||||||||||
7 | 0 | 0 | - | - | - | - | - | - | - | - |
Provision for losses on accounts receivable, net of adjustments | ||||||||||
91 | 174 | 179 | -25 | -48 | -22 | 141 | -83 | -289 | -117 | 10 |
Provision for excess and obsolete inventories | ||||||||||
1,454 | 152 | 264 | 625 | 178 | 135 | 243 | 63 | -50 | - | 410 |
Share-based compensation | ||||||||||
11,799 | 7,862 | 6,313 | 4,357 | 2,891 | 2,178 | 1,763 | 1,294 | 680 | 791 | 848 |
Excess tax benefits from stock options exercised and restricted stock awards vested | ||||||||||
- | - | - | - | - | - | 843 | 393 | 211 | 356 | 703 |
(Gain) loss on disposition of assets | ||||||||||
-337 | 12 | -45 | 20 | 59 | 305 | 22 | -4 | -1,802 | 73 | 59 |
Unrealized gain on financial derivative asset | ||||||||||
- | - | - | - | - | - | - | - | - | 14 | 2,200 |
Foreign currency transaction loss (gain) | ||||||||||
27 | -55 | 59 | 22 | -139 | -74 | -67 | 27 | 8 | - | 0 |
Interest income on note receivable | ||||||||||
25 | 27 | 25 | 28 | 30 | 36 | 40 | 42 | 0 | - | - |
Deferred | ||||||||||
6,038 | 2,641 | -749 | 825 | 1,172 | -2,111 | -1,594 | -2,028 | 10,122 | -558 | 3,531 |
Write-off of note receivable | ||||||||||
- | - | - | - | - | 0 | 75 | 0 | 0 | - | - |
Changes in assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
13,412 | 2,832 | 7,516 | -7,048 | 5,884 | 5,007 | -4,662 | 9,646 | -6,053 | 6,403 | -5,495 |
Income taxes | ||||||||||
-5,129 | 4,448 | -4,591 | 1,537 | -312 | 257 | -464 | -9,715 | 10,016 | - | 0 |
Inventories | ||||||||||
-2,557 | 5,598 | 23,698 | 9,478 | 1,059 | 5,613 | -231 | -2,271 | 1,296 | 4,814 | -7,243 |
Prepaid expenses and other | ||||||||||
329 | 528 | -98 | 83 | -76 | 305 | -436 | 17 | 67 | -431 | 660 |
Financial derivative asset | ||||||||||
- | - | - | - | - | - | - | - | - | -2,214 | 0 |
Accounts payable | ||||||||||
280 | -1,176 | 3,043 | 654 | -5,109 | 3,512 | -5,197 | 2,461 | -2,751 | 6,522 | -6,334 |
Deferred revenue | ||||||||||
425 | 412 | 258 | 417 | 189 | 782 | 615 | 0 | 0 | - | - |
Accrued liabilities | ||||||||||
7,124 | -1,816 | 6,366 | -5,470 | 4,852 | 4,094 | 1,942 | 6,584 | -3,024 | 2,370 | 842 |
Net cash provided by operating activities | ||||||||||
97,925 | 54,856 | 57,994 | 63,923 | 55,355 | 53,518 | 53,592 | 51,167 | 26,484 | 32,152 | 45,205 |
Investing Activities | ||||||||||
Capital expenditures | ||||||||||
37,166 | 37,268 | 41,713 | 26,604 | 20,967 | 16,127 | 9,041 | 14,147 | 35,914 | 17,470 | 9,774 |
Cash paid in business combination | ||||||||||
0 | 6,377 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of property, plant and equipment | ||||||||||
69 | 13 | 10 | 28 | 63 | 319 | 92 | 11 | 482 | 136 | 135 |
Investment in certificates of deposits | ||||||||||
6,000 | 7,200 | 5,280 | 4,112 | 6,680 | 9,940 | 9,108 | 6,540 | 0 | 2,745 | 0 |
Maturities of certificates of deposits | ||||||||||
6,000 | 10,080 | 7,912 | 10,560 | 6,098 | 9,310 | 3,600 | 1,300 | 1,503 | 1,242 | 0 |
Purchase of investments held to maturity | ||||||||||
0 | 9,001 | 13,241 | 10,384 | 14,183 | 6,880 | 22,275 | 11,654 | 0 | 12,018 | 0 |
Maturities of investments | ||||||||||
- | - | - | 10,021 | 11,408 | 14,197 | 2,005 | 0 | 9,364 | 2,119 | 0 |
Proceeds from assets held for sale | ||||||||||
- | - | - | - | - | - | - | - | - | 460 | 0 |
Maturities of investments held to maturity | ||||||||||
0 | 14,570 | 19,700 | 3,514 | 1,013 | 3,029 | 3,332 | 626 | 0 | - | - |
Proceeds from called investments | ||||||||||
0 | 495 | 1,500 | - | - | - | - | - | - | - | - |
Principal payments from note receivable | ||||||||||
51 | 53 | 60 | 52 | 54 | 63 | 69 | 69 | 27 | - | 0 |
Net cash used in investing activities | ||||||||||
-37,046 | -34,635 | -31,052 | -16,925 | -23,194 | -6,029 | -31,326 | -30,335 | -24,538 | -28,276 | -9,639 |
Financing Activities | ||||||||||
Proceeds from financing obligation, net of issuance costs | ||||||||||
6,614 | 0 | 0 | - | - | - | - | - | - | - | - |
Payment related to financing costs | ||||||||||
301 | 0 | 0 | - | - | - | - | - | - | - | - |
Borrowings under revolving credit facility | ||||||||||
- | - | - | 761 | 0 | 0 | 8,325 | 34,847 | 82,078 | 20,839 | 9,972 |
Payments under revolving credit facility | ||||||||||
- | - | - | 761 | 0 | 0 | 8,325 | 39,422 | 77,503 | 20,839 | 12,873 |
Payments of long-term debt | ||||||||||
- | - | - | - | - | - | - | - | - | 76 | 136 |
Stock options exercised | ||||||||||
12,600 | 5,000 | 2,300 | 2,063 | 2,795 | 1,318 | 1,467 | 1,996 | 494 | 1,168 | 1,236 |
Excess tax benefits from stock options exercised and restricted stock awards vested | ||||||||||
- | - | - | - | - | - | 843 | 393 | 211 | 356 | 703 |
Repurchase of stock | ||||||||||
19,586 | 26,846 | 16,620 | 19,317 | 36,558 | 29,066 | 8,222 | 6,660 | 3,671 | 19,480 | 3,129 |
Employee taxes paid by withholding shares | ||||||||||
1,207 | 1,097 | 1,614 | 823 | 585 | 218 | - | - | - | - | - |
Cash dividends paid to stockholders | ||||||||||
16,645 | 16,728 | 13,663 | 12,676 | 11,857 | 9,656 | 7,428 | 8,840 | 5,935 | 9,168 | 5,874 |
Net cash used in financing activities | ||||||||||
-18,500 | -39,684 | -29,638 | -30,753 | -46,205 | -37,622 | -13,340 | -17,686 | -4,326 | -27,200 | -10,101 |
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||||||
42,379 | -19,463 | -2,696 | 16,245 | -14,044 | 9,867 | 8,926 | 3,146 | -2,380 | -23,246 | 25,370 |
Effects of exchange rate on cash | ||||||||||
- | - | - | - | - | - | - | - | - | 78 | -95 |