| Dec'19 | Dec'18 | Dec'17 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | |||||||||||
Net income | |||||||||||
13,266 | 14,505 | 5,045 | 5,045 | 7,785 | 5,727 | 7,661 | 6,901 | 8,625 | 5,504 | 5,543 | 1,036 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
6,454 | 5,329 | 4,719 | 4,719 | 3,814 | 3,921 | 3,486 | 3,825 | 3,439 | 3,707 | 3,942 | 4,103 |
The amount of costs unrecognized during the period for pension and postretirement benefits. | |||||||||||
1,844 | -2,226 | 326 | 326 | 931 | 1,384 | -175 | 95 | - | - | - | - |
(Gain)/loss on sale of equipment and other assets | |||||||||||
568 | 413 | 369 | 369 | -73 | -49 | -69 | -116 | 1 | 1 | -113 | -5 |
Non cash restructuring charges | |||||||||||
2,641 | 0 | - | - | - | - | - | - | - | - | - | - |
Provision for doubtful accounts | |||||||||||
63 | 185 | 55 | 55 | 120 | 9 | 37 | 106 | 147 | 44 | 177 | 320 |
Issuance of Common Stock for directors' fees | |||||||||||
- | - | - | - | - | - | 29 | - | - | - | - | - |
Deferred Taxes | |||||||||||
-2,093 | 947 | 1,198 | 1,198 | -403 | -240 | - | - | 1,101 | 1,847 | 526 | 235 |
Stock compensation expense | |||||||||||
656 | 493 | 354 | 354 | 149 | 64 | - | - | - | - | - | - |
Issuance of Common Stock for directors' fees | |||||||||||
- | - | - | - | - | - | - | 22 | 24 | 24 | 24 | 30 |
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | |||||||||||
-5,982 | 3,483 | 2,574 | 2,574 | 1,062 | 852 | 207 | -1,776 | -307 | 2,470 | 1,047 | -1,573 |
Inventories | |||||||||||
-1,463 | 5,356 | -152 | -152 | -2,514 | 3,095 | 2,825 | 1,400 | -586 | 1,825 | 3,400 | -6,671 |
Prepaid expenses | |||||||||||
-860 | 761 | 1,709 | 1,709 | -217 | -483 | -593 | -308 | - | - | - | - |
Prepaid expenses and other | |||||||||||
- | - | - | - | - | - | - | - | 24 | -10 | 534 | -361 |
Prepaid pension cost | |||||||||||
- | - | - | - | - | - | - | - | 865 | 4,924 | -1,491 | -791 |
Recoverable tax receivables | |||||||||||
- | - | 0 | - | 0 | -380 | 380 | -1,158 | 510 | 647 | 0 | -1,313 |
Other assets | |||||||||||
499 | -102 | -709 | -709 | 84 | 106 | 156 | 76 | 124 | 81 | 140 | 15 |
Accounts payable | |||||||||||
-2,337 | 4,106 | 892 | 892 | -1,755 | 1,182 | 998 | -253 | -889 | 960 | 2,061 | -1,858 |
Accrued compensation | |||||||||||
-1,462 | -165 | 911 | 911 | 261 | 28 | 185 | -626 | 439 | 14 | 1,146 | -127 |
Other accrued expenses | |||||||||||
-3,315 | -387 | 1,468 | 1,468 | -146 | 196 | 29 | -637 | 1,389 | -716 | -401 | -1,097 |
Net cash provided by operating activities | |||||||||||
22,958 | 12,876 | 11,180 | 11,180 | 12,415 | 9,133 | - | - | - | 1,446 | 9,501 | 13,343 |
Investing Activities | |||||||||||
Capitalized software | |||||||||||
0 | 1,813 | - | 0 | - | - | - | - | - | - | - | - |
Proceeds from sale of equipment | |||||||||||
857 | 0 | 44 | 44 | 8 | 25 | 22 | 2 | 44 | 4 | 0 | 0 |
Purchases of property, plant and equipment | |||||||||||
5,440 | 3,596 | 2,762 | 2,762 | 2,863 | 2,538 | 3,633 | 5,523 | 4,216 | 3,394 | 4,733 | 2,226 |
Net cash provided by operating activities | |||||||||||
- | - | - | - | - | - | 9,347 | 11,317 | 13,645 | - | - | - |
Marketable securities | |||||||||||
34 | 0 | - | - | - | - | - | - | - | - | - | - |
Business acquisitions, net of cash acquired | |||||||||||
81,155 | 4,994 | 40,078 | 40,078 | 0 | 0 | 5,034 | 0 | 0 | - | - | - |
Net cash used in investing activities | |||||||||||
- | - | - | - | - | - | -8,644 | -5,520 | -4,172 | - | - | - |
Net cash used in investing activities | |||||||||||
-85,772 | -10,405 | -42,796 | -42,796 | -2,855 | -2,513 | - | - | - | -3,390 | -4,732 | -2,226 |
Financing Activities | |||||||||||
Proceeds from issuance of long-term debt | |||||||||||
100,000 | 0 | 31,000 | 31,000 | 0 | 0 | - | - | 5,000 | 0 | 5,000 | 0 |
Principal payments on long-term debt | |||||||||||
30,285 | 1,550 | 2,560 | 2,560 | 1,428 | 1,071 | 1,785 | 1,428 | 1,250 | 714 | 11,964 | 2,240 |
Proceeds from short-term borrowing (Revolver) | |||||||||||
0 | 7,000 | 6,614 | 6,614 | 0 | 0 | - | - | - | - | - | - |
Payments on Revolving Credit Note | |||||||||||
0 | 12,000 | 1,614 | 1,614 | 0 | 0 | - | - | 3,000 | - | - | - |
Proceeds from revolving credit loan | |||||||||||
- | - | - | - | - | - | - | - | - | 3,000 | 0 | 0 |
Proceeds from sales of Common Stock | |||||||||||
- | - | - | - | - | - | 271 | 13 | 61 | 651 | 1,348 | 1,584 |
Tax benefit from disqualifying dispositions of incentive stock options | |||||||||||
- | - | - | - | - | - | 8 | 0 | 0 | 106 | 107 | 202 |
Purchase common stock for treasury | |||||||||||
0 | 1,063 | - | 0 | - | - | - | - | - | - | 730 | - |
Purchases of Common Stock for treasury | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -797 |
Dividends paid | |||||||||||
2,743 | 2,756 | 2,754 | 2,754 | 2,751 | 2,810 | 2,987 | 2,612 | 3,108 | 2,224 | 3,181 | 2,155 |
Net cash used in financing activities | |||||||||||
- | - | - | - | - | - | -4,492 | -4,027 | -2,297 | - | - | - |
Net cash used in financing activities | |||||||||||
66,970 | -10,369 | 30,684 | 30,684 | -4,179 | -3,882 | - | - | - | 819 | -9,419 | -3,405 |
Effect of exchange rate changes on cash | |||||||||||
-85 | -450 | - | - | - | - | - | - | - | - | - | - |
Net change in cash and cash equivalents | |||||||||||
4,070 | -8,349 | - | - | - | - | - | - | - | - | - | - |
Effect of exchange rate changes on cash | |||||||||||
- | - | 482 | 482 | -470 | -757 | -363 | -262 | 159 | 47 | 129 | 67 |
Net change in cash and cash equivalents | |||||||||||
- | - | -449 | -449 | 4,910 | 1,980 | -4,153 | 1,506 | 7,334 | -1,077 | -4,522 | 7,779 |