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
 6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Cash flows from operating activities:    
Net income $ 17,495 $ 15,198
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,855 5,034
Loss on disposal of assets 692 316
Stock-based compensation expense 2,038 2,884
Amortization of debt issuance costs 202  
Allowance for doubtful accounts 119 34
Provision for slow moving inventory 108  
Benefit for deferred income taxes (3,229) (131)
Amortization of acquisition related inventory step-up 1,774  
Change in fair value of contingent consideration 8,191 0
(Increase) decrease in:    
Accounts receivable (14,191) (6,254)
Inventories (10,120) 737
Income taxes receivable 512 123
Other current assets (303) 249
Other assets 98 (55)
Increase (decrease) in:    
Accounts payable 5,796 1,035
Accrued expenses and other liabilities 1,145 1,399
Income taxes payable 1,207 1,634
Other noncurrent liabilities 295 (260)
Net cash provided by operating activities 21,684 21,943
Cash flows from investing activities:    
Investment in licensed technology   (850)
Capital expenditures (3,305) (2,557)
Proceeds from dispositions of equipment 18 2
Purchases of short-term investments   (9,637)
Proceeds from sale of short-term investments 2,938 15,803
Net cash (used in) provided by investing activities (349) 2,761
Cash flows from financing activities:    
Repayment of borrowings on revolving line of credit (16,000)  
Proceeds from stock issued 465 418
Dividends to shareholders (5,390) (5,900)
Change in restricted cash   4
Net cash used in financing activities (20,925) (5,478)
Effect of exchange rate changes on cash and cash equivalents 4,042 (1,529)
Net increase in cash and cash equivalents 4,452 17,697
Cash and cash equivalents, beginning of period 74,221 81,932
Cash and cash equivalents, end of period 78,673 99,629
Cash paid:    
Income taxes 9,506 5,582
Interest 1,926  
Supplemental disclosure of noncash transactions:    
Common stock issued for shared distribution through accrued expenses and other liabilities 628 1,679
Unrealized gain on available for sales securities 122 $ 653
Measurement period adjustment to goodwill and contingent consideration $ 6,314