| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net (loss) income | ||||||||||
60,268 | 46,730 | 31,558 | 23,304 | 33,138 | 43,775 | 37,984 | 37,398 | 37,677 | 21,400 | 1,856 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
35,215 | 39,714 | 19,190 | 11,318 | 9,557 | 8,718 | 7,227 | 7,186 | 6,721 | 6,873 | 6,968 |
Loss on disposal of assets | ||||||||||
-2,843 | -56 | -1,539 | -329 | 171 | -171 | -462 | -193 | 32 | 43 | -30 |
Gain on investment in business | ||||||||||
- | - | - | - | - | - | 528 | 0 | 1,244 | - | - |
Stock-based compensation expense | ||||||||||
5,207 | 4,271 | 4,042 | 4,848 | 4,324 | 3,899 | 3,047 | 2,333 | 1,752 | 1,149 | 960 |
Deferred director and phantom stock unit expense | ||||||||||
- | - | - | - | 17 | 35 | 70 | 20 | -22 | 557 | 398 |
Stock compensation income tax expense | ||||||||||
- | - | - | - | 112 | 137 | - | - | - | - | - |
Amortization of debt issuance costs | ||||||||||
717 | 729 | 334 | 47 | - | - | - | - | - | - | - |
Provision (benefit) for deferred income taxes | ||||||||||
- | - | - | - | - | - | - | - | - | - | 4 |
Stock compensation income tax benefit | ||||||||||
- | - | - | - | - | - | 303 | 88 | 144 | 175 | 9 |
Allowance for doubtful accounts | ||||||||||
- | - | - | - | 12 | 55 | -7 | 26 | 1 | -8 | -2 |
Provision for slow moving inventory | ||||||||||
- | - | - | - | -193 | -37 | 0 | 112 | 19 | 159 | 41 |
Benefit for deferred income taxes | ||||||||||
-551 | -1,455 | -6,791 | 77 | -846 | 1,265 | - | - | - | - | - |
Amortization of acquisition-related inventory step-up | ||||||||||
- | 4,441 | 1,774 | 1,021 | - | - | - | - | - | - | - |
Change in fair value of contingent consideration | ||||||||||
615 | 1,482 | 9,476 | 0 | 0 | - | - | - | - | - | - |
Forward contract (gains) losses, net | ||||||||||
2,863 | -3,496 | - | - | - | - | - | - | - | - | - |
Other, net | ||||||||||
-1,156 | 86 | -708 | -179 | - | - | - | - | - | - | - |
Provision for Deferred Income Taxes | ||||||||||
- | - | - | - | - | - | 291 | 325 | 1,419 | 622 | - |
(Increase) decrease in: | ||||||||||
Accounts receivable | ||||||||||
-5,657 | 5,976 | 11,063 | 3,158 | -3,958 | 572 | 3,210 | -1,903 | -741 | 6,442 | -2,555 |
Inventories | ||||||||||
1,450 | 11,703 | 13,063 | 1,380 | -1,244 | 208 | 1,226 | -268 | 1,631 | 2,815 | -2,202 |
Income taxes receivable | ||||||||||
2,459 | 4,054 | -512 | 1,628 | 235 | -1,091 | -77 | 520 | -1,178 | -506 | 123 |
Other current assets | ||||||||||
4,043 | -565 | -254 | 153 | 741 | 150 | 167 | 650 | 662 | 759 | 507 |
Other assets | ||||||||||
-1,772 | 1,299 | 820 | 106 | -289 | -69 | -383 | -240 | 1,081 | -750 | -560 |
Increase (decrease) in: | ||||||||||
Accounts payable | ||||||||||
-10,750 | 5,894 | 5,780 | 2,566 | -451 | 243 | 24 | -742 | 499 | 861 | -816 |
Accrued expenses and other liabilities | ||||||||||
5,700 | -1,400 | 1,497 | 656 | 476 | 4,118 | 3,155 | 4,547 | 4,390 | 2,775 | -672 |
Income taxes payable | ||||||||||
6,234 | -5,031 | 3,404 | 838 | -559 | 559 | 0 | 0 | - | - | - |
Other noncurrent liabilities | ||||||||||
-2,057 | 1,076 | 1,051 | -252 | -29 | -48 | -156 | -353 | -37 | -2 | 304 |
Contingent consideration payments in excess of acquisition date fair value | ||||||||||
10,731 | - | - | - | - | - | - | - | - | - | - |
Net cash provided by operating activities | ||||||||||
90,480 | 77,450 | 49,382 | 38,506 | 49,902 | 62,846 | 47,123 | 52,198 | 49,544 | 25,090 | 13,667 |
Proceeds from sale of joint venture | ||||||||||
- | - | - | - | - | - | - | - | 1,451 | - | - |
Acquisitions of businesses, net of cash acquired | ||||||||||
- | 534,662 | 500 | 200,056 | - | - | 923 | 1,140 | 1,776 | - | - |
Investment in licensed technology | ||||||||||
- | - | - | 1,227 | 1,425 | 1,075 | 0 | 0 | - | - | - |
Capital expenditures | ||||||||||
25,025 | 28,380 | 22,205 | 6,187 | 6,106 | 10,667 | 17,935 | 13,359 | 10,143 | 3,856 | 5,096 |
Proceeds from dispositions of equipment | ||||||||||
196 | 62 | 47 | 7 | 1,645 | 37 | 230 | 56 | 35 | 175 | - |
Purchases of short-term investments | ||||||||||
- | - | - | 24,699 | 30,125 | 51,236 | 28,356 | 40,495 | 26,833 | 14,175 | 10,600 |
Proceeds from sale of short-term investments | ||||||||||
- | - | 6,684 | 62,374 | 26,698 | 44,765 | 26,764 | 32,912 | 7,517 | 10,230 | 2,863 |
Cash settlement of forward contracts | ||||||||||
-2,478 | 2,535 | - | - | - | - | - | - | - | - | - |
Net cash used in investing activities | ||||||||||
-22,351 | -565,515 | -15,974 | -169,788 | -9,313 | -18,176 | -20,220 | -22,026 | -29,749 | -7,626 | -12,833 |
Borrowings on revolving credit facility | ||||||||||
129,951 | 282,500 | - | 140,000 | - | - | - | - | - | - | - |
Repayment of borrowings on revolving credit facility | ||||||||||
176,750 | 142,750 | 24,000 | - | - | - | - | - | - | - | - |
Borrowings on long-term non-revolving debt | ||||||||||
- | 101,447 | - | - | - | - | - | - | - | - | - |
Repayment of borrowings on long-term non-revolving debt | ||||||||||
5,465 | 3,825 | - | - | - | - | - | - | - | - | - |
Borrowings under factoring arrangements | ||||||||||
- | 3,184 | - | - | - | - | - | - | - | - | - |
Repayment of borrowings under factoring arrangements | ||||||||||
- | 3,120 | - | - | - | - | - | - | - | - | - |
Stock compensation income tax expense | ||||||||||
- | - | - | 113 | 112 | 137 | 303 | 88 | 144 | 175 | 9 |
Repayment of debt | ||||||||||
- | - | - | - | - | - | - | 169 | 100 | - | 261 |
Proceeds from stock issued | ||||||||||
1,650 | 241,338 | 1,156 | 1,039 | 1,019 | 846 | 859 | 700 | 574 | 423 | 392 |
Proceeds from stock issued | ||||||||||
- | - | - | - | - | - | - | - | 61 | 44 | 11 |
Dividends to shareholders | ||||||||||
11,525 | 11,003 | 10,260 | 10,744 | 11,999 | 38,357 | 9,435 | 40,900 | 9,596 | 14,635 | 7,547 |
Change in restricted cash | ||||||||||
- | - | - | - | -275 | -15 | 5 | 272 | -84 | - | 5 |
Debt issuance costs | ||||||||||
- | 1,763 | - | 1,959 | - | - | - | - | - | - | - |
Payment of contingent consideration liability | ||||||||||
8,016 | 17,342 | 16,985 | - | - | - | - | - | - | - | - |
Other financing activities | ||||||||||
-1,588 | -1,326 | - | - | - | - | - | - | - | - | - |
Net cash used in financing activities | ||||||||||
-71,743 | 447,340 | -50,089 | 128,223 | -10,817 | -37,359 | -8,278 | -40,553 | -8,833 | -13,993 | -7,396 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||
2,261 | 318 | 6,345 | -4,659 | -4,683 | -5,380 | 1,809 | 2,025 | -1,334 | -579 | 1,705 |
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||||||
-1,353 | -40,407 | -10,336 | -7,718 | 25,089 | 1,931 | 20,434 | -8,356 | 9,628 | 2,892 | -4,862 |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid: | ||||||||||
Income taxes | ||||||||||
11,421 | 20,227 | 17,470 | 12,785 | 17,857 | 19,693 | 19,123 | - | 17,456 | -9,290 | 289 |
Interest | ||||||||||
14,252 | 12,783 | 3,723 | 364 | - | - | - | - | - | - | 9 |
Supplemental disclosure of noncash transactions: | ||||||||||
Common stock issued to ESOP through accrued expenses and other liabilities | ||||||||||
1,152 | - | 628 | 1,679 | 3,535 | 3,226 | 3,486 | 4,407 | 2,412 | - | 2,796 |
Unrealized loss on interest rate swap | ||||||||||
-3,482 | -2,309 | - | - | - | - | - | - | - | - | - |
Common stock issued for deferred directors compensation through other noncurrent liabilities | ||||||||||
- | - | - | - | - | - | 294 | - | 0 | - | - |
Unrealized gain on available-for-sale securities | ||||||||||
- | - | - | 871 | -403 | -671 | -22 | 326 | -549 | -59 | 116 |
Contingent consideration incurred in connection with acquisition | ||||||||||
- | 938 | - | 35,077 | - | - | - | - | - | - | - |
Measurement period adjustment to goodwill and contingent consideration | ||||||||||
- | - | 4,504 | - | - | - | - | - | - | - | - |
Stock issued for acquisition | ||||||||||
- | 17,339 | - | - | - | - | - | - | - | - | - |