Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.4.0.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 1,029 $ 1,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 54 60
Deferred income tax expense 8 1
Provision for doubtful accounts receivable   3
Share-based compensation expense 399 267
Changes in operating assets and liabilities:    
Accounts receivable 4,332 4,987
Inventory (418) (713)
Prepaid expenses and other current assets (143) (416)
Accounts payable and accrued expenses (2,901) (4,004)
Other assets (58) 40
Net cash provided by operating activities 2,302 1,528
Cash flows used in investing activities    
Purchase of equipment and leasehold improvements (24) (40)
Net cash used in investing activities (24) (40)
Cash flows used in financing activities    
Dividends paid (816) (827)
Purchase of treasury stock (910) (2,543)
Tax benefit from share-based compensation 44 70
Proceeds from stock option exercises   325
Net cash used in financing activities (1,682) (2,975)
Effect of foreign exchange rate on cash (129) (272)
Net increase (decrease) in cash and cash equivalents 467 (1,759)
Cash and cash equivalents at beginning of period 23,823  
Cash and cash equivalents at end of period 24,290 21,365
Supplementary disclosure of cash flow information:    
Income taxes paid $ 313 $ 532