Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Oct. 01, 2016
Cash flows from operating activities:    
Net income $ 28,790 $ 20,186
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,559 7,550
Loss on disposal of assets 812 316
Stock-based compensation expense 3,180 3,890
Amortization of debt issuance costs 334  
Allowance for doubtful accounts 109 (21)
Provision for slow moving inventory 79  
(Benefit) provision for deferred income taxes (2,660) 998
Amortization of acquisition related inventory step-up 1,774  
Change in fair value of contingent consideration 8,855 0
(Increase) decrease in:    
Accounts receivable (14,419) (4,149)
Inventories (15,063) 517
Income taxes receivable 512 (386)
Other current assets 12 310
Other assets (359) (773)
Increase (decrease) in:    
Accounts payable 7,146 1,114
Accrued expenses and other liabilities 3,005 2,033
Income taxes payable 2,378  
Other noncurrent liabilities (623) (260)
Net cash provided by operating activities 38,421 31,325
Cash flows from investing activities:    
Investment in licensed technology   (850)
Capital expenditures (8,268) (4,507)
Proceeds from dispositions of equipment 37 2
Purchases of short-term investments   (24,699)
Proceeds from sale of short-term investments 2,887 35,389
Acquisition post-closing adjustment (500)  
Net cash (used in) provided by investing activities (5,844) 5,335
Cash flows from financing activities:    
Repayment of borrowings on revolving line of credit (24,000)  
Proceeds from stock issued 776 830
Dividends to shareholders (7,824) (8,321)
Change in restricted cash 88 5
Net cash used in financing activities (30,960) (7,486)
Effect of exchange rate changes on cash and cash equivalents 5,353 (1,084)
Net increase in cash and cash equivalents 6,970 28,090
Cash and cash equivalents, beginning of period 74,221 81,932
Cash and cash equivalents, end of period 81,191 110,022
Cash paid:    
Income taxes 13,045 9,047
Interest 3,103  
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 69 $ 852
Measurement period adjustment to goodwill and contingent consideration $ 6,314