Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 3,929 $ 4,218
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 192 188
Provision (recovery) for doubtful accounts receivable (57) 67
Deferred income tax expense 32 6
Share-based compensation expense 1,168 797
Changes in operating assets and liabilities:    
Accounts receivable (2,271) 4,686
Inventory 62 (531)
Prepaid expenses and other current assets (204) (176)
Accounts payable and accrued expenses 1,312 (6,642)
Other assets (45) 55
Net cash provided by operating activities 4,118 2,668
Cash flows used in investing activities    
Purchase of equipment and leasehold improvements (779) (164)
Net cash used in investing activities (779) (164)
Cash flows used in financing activities    
Purchase of treasury stock (3,612) (3,916)
Proceeds from stock option exercises   574
Tax benefit from share-based compensation 115 172
Dividends paid (2,420) (2,446)
Net cash used in financing activities (5,917) (5,616)
Effect of foreign exchange rate on cash (287) (405)
Net increase in cash and cash equivalents (2,865) (3,517)
Cash and cash equivalents at beginning of period 23,823 23,124
Cash and cash equivalents at end of period 20,958 19,607
Supplementary disclosure of cash flow information:    
Income taxes paid 1,915 $ 2,347
Leasehold improvements funded by a tenant allowance $ 840