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, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net income $ 480 $ 2,592
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 236 233
(Benefit) for doubtful accounts receivable   (54)
Deferred income tax expense (benefit) 7 (28)
Share-based compensation expense 2,387 703
Loss on disposal of fixed assets 10  
Changes in operating assets and liabilities:    
Accounts receivable 7,075 19,769
Inventory 453 (20)
Prepaid expenses and other current assets (25) (259)
Vendor prepayments 1,994  
Accounts payable and accrued expenses (4,723) (22,660)
Other assets and liabilities (110) (104)
Net cash provided by operating activities 7,784 172
Cash flows used in investing activities    
Purchase of equipment and leasehold improvements (189) (285)
Net cash used in investing activities (189) (285)
Cash flows used in financing activities    
Purchase of treasury stock (993) (2,376)
Borrowings under revolving credit facility 2,000  
Repayment of borrowings under revolving credit facility (2,000)  
Dividends paid (1,535) (1,539)
Net cash used in financing activities (2,528) (3,915)
Effect of foreign exchange rate on cash (188) 233
Net increase (decrease) in cash and cash equivalents 4,879 (3,795)
Cash and cash equivalents at beginning of period 5,530 13,524
Cash and cash equivalents at end of period 10,409 9,729
Supplementary disclosure of cash flow information:    
Income taxes paid $ 1,368 $ 1,359