Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net income $ 5,830 $ 5,760 $ 6,393
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization expense 253 226 274
Deferred income tax expense (benefit) (43) 7 82
Provision for doubtful accounts receivable 13 43 188
Share-based compensation expense 1,213 1,305 1,127
Changes in operating assets and liabilities:      
Accounts receivable 1,085 1,740 1,975
Inventory (481) (176) 402
Prepaid expenses and other current assets (72) 1,171 (840)
Accounts payable and accrued expenses 322 (4,333) 827
Net change in other operating assets and liabilities 65 2 (90)
Net cash provided by (used in) operating activities 8,185 5,745 10,338
Cash flows used in investing activities      
Purchase of available-for-sale securities     (920)
Redemptions of available-for-sale securities     5,342
Purchase of equipment and leasehold improvements (200) (311) (219)
Net cash used in investing activities (200) (311) 4,203
Cash flows used in financing activities      
Dividends paid (3,242) (3,230) (3,014)
Purchase of treasury stock (4,638) (772) (2,056)
Tax benefit from share-based compensation 213 716 163
Repayment of capital lease obligations     (55)
Proceeds from stock option exercises 574 1,791 201
Net cash used in financing activities (7,093) (1,495) (4,761)
Effect of foreign exchange rate on cash (193) (424) (6)
Net decrease in cash and cash equivalents 699 3,515 9,774
Cash and cash equivalents at beginning of period 23,124 19,609 9,835
Cash and cash equivalents at end of period 23,823 23,124 19,609
Supplementary disclosure of cash flow information:      
Income taxes paid $ 3,191 $ 2,431 $ 2,980