Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 01, 2017
Apr. 02, 2016
Cash flows from operating activities:    
Net income $ 10,211 $ 8,208
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,091 2,527
Loss on disposal of assets 139 10
Stock-based compensation expense 975 1,425
Amortization of debt issuance costs 70  
Allowance for doubtful accounts 63 5
Provision for slow moving inventory 466  
Benefit for deferred income taxes (12) (10)
Amortization of acquisition related inventory step-up 1,774  
(Increase) decrease in:    
Accounts receivable (11,766) (5,954)
Inventories (3,952) 320
Income taxes receivable 371 123
Other current assets (1,183) (1,112)
Other assets 197 86
Increase (decrease) in:    
Accounts payable 4,566 1,439
Accrued expenses and other liabilities 1,508 2,032
Income taxes payable 3,765 1,652
Other noncurrent liabilities 150 (260)
Net cash provided by operating activities 12,433 10,491
Cash flows from investing activities:    
Investment in licensed technology   (850)
Capital expenditures (758) (999)
Proceeds from dispositions of equipment   2
Purchases of short-term investments   (4,278)
Proceeds from sale of short-term investments 2,096 6,429
Net cash provided by investing activities 1,338 304
Cash flows from financing activities:    
Repayment of borrowings on revolving line of credit (16,000)  
Proceeds from stock issued 205 213
Dividends to shareholders (2,963) (3,482)
Change in restricted cash   1
Net cash used in financing activities (18,758) (3,268)
Effect of exchange rate changes on cash and cash equivalents 1,172 442
Net (decrease) increase in cash and cash equivalents (3,815) 7,969
Cash and cash equivalents, beginning of period 74,221 81,932
Cash and cash equivalents, end of period 70,406 89,901
Cash paid:    
Income taxes 366 1,397
Interest 658  
Supplemental disclosure of noncash transactions:    
Common stock issued for shared distribution through accrued expenses and other liabilities 601 1,600
Unrealized gain on available for sales securities $ 129 $ 196