Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 30, 2017
Dec. 31, 2016
Jan. 02, 2016
Cash flows from operating activities:      
Net income $ 31,558 $ 23,304 $ 33,138
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 19,190 11,318 9,557
Loss (gain) on disposal of assets 1,539 329 (171)
Stock-based compensation expense 4,042 4,848 4,324
Deferred director and phantom stock unit expense   10 17
Stock compensation income tax expense   113 112
Amortization of debt issuance costs 334 47  
Allowance for doubtful accounts 159 (61) 12
Provision for slow moving inventory 159 117 (193)
(Benefit) provision for deferred income taxes (6,791) 77 (846)
Amortization of acquisition-related inventory step-up 1,774 1,021  
Change in fair value of contingent consideration 9,476 0 0
Non-cash restructuring and related charges 390    
(Increase) decrease in, net of acquisition:      
Accounts receivable (11,063) (3,158) 3,958
Inventories (13,063) (1,380) 1,244
Income taxes receivable 512 (1,628) (235)
Other current assets 254 (153) (741)
Other assets (820) (106) 289
Increase (decrease) in, net of acquisition:      
Accounts payable 5,780 2,566 (451)
Accrued expenses and other liabilities 1,497 656 476
Income taxes payable 3,404 838 (559)
Other noncurrent liabilities 1,051 (252) (29)
Net cash provided by operating activities 49,382 38,506 49,902
Cash flows from investing activities:      
Acquisition of business, net of cash acquired (500) (200,056)  
Investment in licensed technology   (1,227) (1,425)
Capital expenditures (22,205) (6,187) (6,106)
Proceeds from dispositions of equipment 47 7 1,645
Purchases of short-term investments   (24,699) (30,125)
Proceeds from sale of short-term investments 6,684 62,374 26,698
Net cash used in investing activities (15,974) (169,788) (9,313)
Cash flows from financing activities:      
Borrowings on revolving line of credit   140,000  
Repayment of borrowings on revolving credit facility (24,000)    
Stock compensation income tax expense   (113) (112)
Proceeds from stock issued 1,156 1,039 1,019
Dividends to shareholders (10,260) (10,744) (11,999)
Change in restricted cash 88   275
Debt issuance costs   (1,959)  
Payment of contingent consideration liability (16,985)    
Net cash (used in) provided by financing activities (50,001) 128,223 (10,817)
Effect of exchange rate changes on cash and cash equivalents 6,254 (4,652) (4,683)
Net (decrease) increase in cash and cash equivalents (10,339) (7,711) 25,089
Cash and cash equivalents, beginning of period 74,221 81,932 56,843
Cash and cash equivalents, end of period 63,882 74,221 81,932
Cash paid:      
Income taxes 17,470 12,785 17,857
Interest 3,723 364  
Supplemental disclosure of noncash transactions:      
Common stock issued for shared distribution through accrued expenses and other liabilities 628 1,679 3,535
Contingent consideration incurred in connection with acquisition   35,077  
Unrealized gain (loss) on available for sale securities 391 $ 871 $ (403)
Measurement period adjustment to goodwill and contingent consideration $ 4,504