Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 2,664 $ 2,542
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization expense 122 114
Deferred income tax expense (benefit) 42 (18)
Provision for doubtful accounts receivable 6  
Share-based compensation expense 534 575
Changes in operating assets and liabilities:    
Accounts receivable 6,515 2,834
Inventory (870) 94
Prepaid expenses and other current assets (321) 1,142
Accounts payable and accrued expenses (8,930) (12,493)
Other assets 46 (5)
Net cash used in operating activities (192) (5,215)
Cash flows used in investing activities    
Purchase of equipment and leasehold improvements (105) (116)
Net cash used in investing activities (105) (116)
Cash flows (used in) provided by financing activities    
Dividends paid (1,637) (1,592)
Purchase of treasury stock (2,776) (315)
Tax benefit from share-based compensation 135 664
Proceeds from stock option exercises 574 1,791
Net cash (used in) provided by financing activities (3,704) 548
Effect of foreign exchange rate on cash (245) (110)
Net decrease in cash and cash equivalents (4,246) (4,893)
Cash and cash equivalents at beginning of period 23,124  
Cash and cash equivalents at end of period 18,878 14,716
Supplementary disclosure of cash flow information:    
Income taxes paid $ 1,803 $ 1,414