| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||
Net income for the period | ||||||||
46,361 | 34,728 | 26,572 | 32,907 | 25,554 | 25,960 | 22,186 | 9,773 | 18,860 |
Adjustments to reconcile net income to net cash from operating activities: | ||||||||
Depreciation amortization and impairment of goodwill | ||||||||
13,519 | 11,635 | 11,962 | 12,219 | 16,196 | 14,671 | 17,801 | 15,875 | 12,530 |
Gain from sale of subsidiary, net (Appendix A) | ||||||||
0 | 0 | 951 | 0 | 0 | - | - | - | - |
Losses of sale affiliated company | ||||||||
- | - | - | - | -166 | 0 | 0 | - | - |
Exchange differences on principal of deposit and loans, net | ||||||||
- | - | - | 23 | -317 | -55 | 429 | -839 | -28 |
Gains in respect of trading marketable securities | ||||||||
397 | 115 | 666 | 133 | 0 | 2 | 27 | 5 | 1,421 |
Increase (decrease) in liability for employee rights upon retirement | ||||||||
1,025 | 890 | 717 | 1,655 | 1,095 | 888 | 854 | 667 | 676 |
Share in gains of affiliated companies, net | ||||||||
8,520 | -449 | -2,439 | -421 | -1 | -39 | -23 | -3 | 13 |
Deferred income taxes | ||||||||
516 | 1,114 | 85 | 737 | 1,812 | -955 | 2,139 | 1,159 | - |
Deferred income taxes | ||||||||
- | - | - | - | - | - | - | - | 988 |
Capital losses (gains) on sale of property and equipment, net | ||||||||
1 | 52 | 31 | 270 | -19 | -23 | -63 | 299 | 2 |
Increase in accounts receivable | ||||||||
4,769 | 4,552 | -117 | 1,864 | 609 | 300 | -3,649 | 4,669 | -722 |
Increase in other current assets | ||||||||
11,517 | 5,033 | 879 | 4,749 | -580 | -2,766 | 1,869 | - | - |
Decrease (increase) in other current assets | ||||||||
- | - | - | - | - | - | - | 3,728 | 1,716 |
Decrease (increase) in inventories | ||||||||
-1,632 | 1,424 | 658 | -783 | -1,354 | 3,609 | 2,985 | 73 | -646 |
Increase (decrease) in accounts payable | ||||||||
3,751 | 5,884 | -1,176 | 927 | 1,446 | -372 | -180 | -3,810 | 1,734 |
Increase (decrease) in deferred revenues | ||||||||
2,238 | -1,122 | -246 | 749 | -227 | 1,532 | 1,550 | 1,752 | 631 |
Increase (decrease) in other current liabilities | ||||||||
- | - | - | - | - | - | - | 3,568 | 4,063 |
Increase (decrease) in other current and non-current liabilities | ||||||||
1,101 | 1,298 | -1,201 | -4,154 | 2,617 | -3,413 | 7,355 | - | - |
Net cash provided by operating activities | ||||||||
43,907 | 41,472 | 35,914 | - | - | - | - | 33,479 | 37,726 |
Write-off of account receivable in respect of sale of subsidiary | ||||||||
- | - | - | - | - | -484 | 0 | - | - |
Litigation obligation adjustment | ||||||||
- | - | - | - | - | -7,462 | 0 | 14,745 | - |
Net cash provided by operating activities | ||||||||
- | - | - | 37,731 | 46,697 | 32,215 | 45,852 | - | - |
Cash flows from investment activities | ||||||||
Decrease (Increase) in long-term funds in respect of employee rights upon retirement, net of withdrawals | ||||||||
-844 | -644 | -804 | -708 | -718 | -662 | -563 | -662 | -794 |
Capital expenditures | ||||||||
16,159 | 13,645 | 18,724 | 14,976 | 14,216 | 9,676 | 16,161 | 18,344 | 15,698 |
Investments in affiliated companies | ||||||||
900 | 8,920 | 5,966 | 0 | 1,400 | 0 | 0 | - | - |
Investments in available for sale marketable securities | ||||||||
- | - | - | - | - | - | - | - | 182 |
Investments in marketable securities | ||||||||
8,623 | 3,154 | 11 | 2,771 | 0 | 0 | - | 2,664 | 34,467 |
Sale of marketable securities | ||||||||
5,368 | 4,633 | 0 | 0 | - | 70 | 1,418 | 5,552 | 60,600 |
Repayment of loans from affiliated companies | ||||||||
-6,982 | -1,512 | 0 | 0 | - | - | - | - | - |
Deposit in escrow | ||||||||
- | - | - | 5,005 | 0 | - | - | - | - |
Proceeds from (Investment in) long - term deposit | ||||||||
-450 | -16 | 341 | 283 | -217 | - | - | - | - |
Investments in other companies | ||||||||
1,274 | 0 | 0 | - | - | - | - | - | - |
Intangible assets expenditures | ||||||||
- | - | - | - | - | - | 74 | 90 | - |
Deposit in escrow | ||||||||
- | - | - | - | - | 0 | -8,223 | - | - |
Proceeds from (Investment in) short- term deposit | ||||||||
- | - | - | - | - | 291 | - | - | - |
Deposit | ||||||||
- | - | - | - | - | - | -384 | 52 | 389 |
Proceeds from sale of property and equipment | ||||||||
315 | 342 | 406 | 489 | 651 | 319 | 614 | 1,286 | 106 |
Repayment of loan to a former employee | ||||||||
- | - | - | - | - | 355 | 0 | - | - |
Sale of subsidiary (Appendix A) | ||||||||
0 | 0 | 266 | 0 | 0 | -326 | 0 | - | - |
Net cash used in investment activities | ||||||||
-14,685 | -19,860 | -25,706 | - | - | - | - | -14,974 | 13,062 |
Sale of available for sale marketable securities | ||||||||
- | - | - | - | - | - | - | - | 3,886 |
Adjustment of proceeds received from sale of subsidiary | ||||||||
- | - | - | - | - | - | -4,650 | - | - |
Net cash used in investment activities | ||||||||
- | - | - | -13,244 | -15,466 | -9,559 | -10,809 | - | - |
Cash flows from financing activities | ||||||||
Short term credit from banking institutions, net | ||||||||
23 | -152 | 160 | -38 | -7 | -310 | 299 | 46 | -316 |
Repayment of long term loans | ||||||||
- | - | - | - | 182 | 44 | 46 | 18 | - |
Acquisition of non-controlling interests | ||||||||
- | - | - | 500 | 0 | - | - | - | - |
Acquisition of non-controlling interests | ||||||||
- | - | - | - | - | 0 | - | -2,250 | - |
Dividend paid | ||||||||
22,645 | 17,088 | 17,590 | 19,324 | 16,072 | 33,308 | 21,782 | 31,620 | 3,566 |
Dividend paid to non-controlling interest | ||||||||
1,644 | 994 | 1,229 | 2,564 | 1,286 | 1,141 | 767 | - | 169 |
Settlement of litigation obligation in connection with financing transaction | ||||||||
- | - | - | - | - | -7,462 | 22,419 | - | - |
Net cash used in financing activities | ||||||||
- | - | - | -22,426 | -17,547 | -27,341 | -44,715 | - | - |
Net cash used in financing activities | ||||||||
-24,266 | -18,234 | -18,659 | - | - | - | - | -33,842 | -4,051 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||
863 | 693 | -2,951 | -5,340 | -1,440 | -1,132 | -1,732 | 1,198 | 1,565 |
Net increase (decrease) in cash and cash equivalents | ||||||||
5,819 | 4,071 | -11,402 | -3,279 | 12,244 | -5,817 | -11,404 | -14,139 | 48,302 |
Supplementary information on investing activities not involving cash flows: | ||||||||
Purchasing of property and equipment using a directly related liability | ||||||||
373 | 224 | - | - | 104 | - | 259 | 297 | - |
Dividends declared | ||||||||
4,994 | 4,193 | 3,128 | 4,496 | 3,616 | 2,570 | 0 | - | - |
Payment to purchase non-controlling interests | ||||||||
- | - | - | - | 500,000 | - | 0 | - | - |
Working capital (excluding cash and cash equivalents), net | ||||||||
- | - | -1,797 | - | - | -130 | 0 | - | - |
Receivables from Sale of Subsidiary | ||||||||
- | - | 582 | - | - | - | - | - | - |
Funds in respect of employee rights upon retirement | ||||||||
- | - | 250 | - | - | - | - | - | - |
Account receivable in respect of sale of subsidiary | ||||||||
- | - | - | - | - | -430 | 0 | - | - |
Liability for employee rights upon retirement | ||||||||
- | - | -275 | - | - | - | - | - | - |
Gain from sale of subsidiary | ||||||||
0 | 0 | 951 | 0 | 0 | - | - | - | - |
Sale of subsidiary | ||||||||
0 | 0 | 266 | 0 | 0 | -326 | 0 | - | - |
Interest paid | ||||||||
2,651 | 324 | 203 | 397 | 254 | 318 | 470 | 85 | 173 |
Income taxes paid, net of refunds | ||||||||
22,891 | 17,699 | 10,181 | 15,078 | 9,280 | 8,950 | 9,007 | 10,475 | 3,466 |