Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income $ 1,463 $ 1,598
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 135 114
Deferred income tax expense 66 31
Share-based compensation expense 165 349
Loss on disposal of fixed assets   10
Amortization of discount on accounts receivable (153) (220)
Amortization of right-of-use assets 94  
Changes in operating assets and liabilities:    
Accounts receivable (2,539) (5,122)
Inventory (163) 427
Prepaid expenses and other current assets (728) (62)
Vendor prepayments 1,597 125
Accounts payable and accrued expenses 94 5,372
Lease liability, net (33)  
Other assets and liabilities 30 (142)
Net cash provided by operating activities 28 2,480
Cash flows used in investing activities    
Purchase of equipment and leasehold improvements (82) (67)
Net cash used in investing activities (82) (67)
Cash flows used in financing activities    
Purchase of treasury stock (20) (127)
Dividends paid (767) (765)
Net cash used in financing activities (787) (892)
Effect of foreign exchange rate on cash 20 (57)
Net (decrease) increase in cash and cash equivalents (821) 1,464
Cash and cash equivalents at beginning of period 14,883 5,530
Cash and cash equivalents at end of period 14,062 6,994
Supplementary disclosure of cash flow information:    
Income taxes paid $ 161 $ 56