Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 2,555 $ 2,664
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 108 122
Deferred income tax expense 33 42
Provision for doubtful accounts receivable   6
Share-based compensation expense 839 534
Changes in operating assets and liabilities:    
Accounts receivable (985) 6,515
Inventory (165) (870)
Prepaid expenses and other current assets (276) (321)
Accounts payable and accrued expenses 2,610 (8,930)
Other assets (50) 46
Net cash provided by (used in) operating activities 4,669 (192)
Cash flows used in investing activities    
Purchase of equipment and leasehold improvements (210) (105)
Net cash used in investing activities (210) (105)
Cash flows used in financing activities    
Purchase of treasury stock (1,959) (2,776)
Proceeds from stock option exercises   574
Tax benefit from share-based compensation 78 135
Dividends paid (1,621) (1,637)
Net cash used in financing activities (3,502) (3,704)
Effect of foreign exchange rate on cash (204) (245)
Net increase in cash and cash equivalents 753 (4,246)
Cash and cash equivalents at beginning of period 23,823 23,124
Cash and cash equivalents at end of period 24,576 18,878
Supplementary disclosure of cash flow information:    
Income taxes paid $ 1,207 $ 1,803