Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 1,598 $ 1,319
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 114 114
Deferred income tax expense (benefit) 31 (39)
Share-based compensation expense 349 347
Loss on disposal of fixed assets 10  
Changes in operating assets and liabilities:    
Accounts receivable (5,342) 14,752
Inventory 427 (136)
Prepaid expenses and other current assets (62) 71
Vendor prepayments 125  
Accounts payable and accrued expenses 5,372 (16,142)
Other assets and liabilities (142) (113)
Net cash provided by operating activities 2,480 173
Cash flows used in investing activities    
Purchase of equipment and leasehold improvements (67) (174)
Net cash used in investing activities (67) (174)
Cash flows used in financing activities    
Purchase of treasury stock (127) (1,726)
Dividends paid (765) (777)
Net cash used in financing activities (892) (2,503)
Effect of foreign exchange rate on cash (57) 70
Net increase (decrease) in cash and cash equivalents 1,464 (2,434)
Cash and cash equivalents at beginning of period 5,530 13,524
Cash and cash equivalents at end of period 6,994 11,090
Supplementary disclosure of cash flow information:    
Income taxes paid $ 56 $ 21