Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities      
Net Income $ 46,803,000 $ 19,679,000 $ 48,424,000
Adjustments to Reconcile Net Income to Cash Provided By Operating Activities, Excluding the Effects of Acquisitions:      
Depreciation and Amortization 35,032,000 27,063,000 25,790,000
Provision for Non-Cash Losses on Inventory and Receivables 3,271,000 2,973,000 2,404,000
Equity-based Compensation Expense 3,098,000 2,598,000 2,281,000
Deferred Tax Benefit (2,680,000) (5,494,000) (4,756,000)
Impairment Loss 0 16,237,000 0
Other (668,000) (937,000) 165,000
Cash Flows from Changes in Operating Assets and Liabilities, net of the Effects from Acquisitions of Businesses:      
Accounts Receivable (47,291,000) (9,844,000) (14,622,000)
Inventories (14,695,000) (18,116,000) (2,671,000)
Prepaid Expenses and Other Current Assets 464,000 (2,132,000) 108,000
Accounts Payable 9,171,000 10,439,000 (2,000,000)
Accrued Expenses 9,177,000 (702,000) (174,000)
Income Taxes Payable (4,460,000) (376,000) 7,926,000
Customer Advanced Payments and Deferred Revenue 15,735,000 (4,918,000) (15,539,000)
Supplemental Retirement Plan and Other Liabilities 1,924,000 1,313,000 1,518,000
Cash Provided By Operating Activities 54,881,000 37,783,000 48,854,000
Cash Flows from Investing Activities      
Acquisitions of Business, Net of Cash Acquired 0 (114,039,000) 0
Capital Expenditures (16,317,000) (13,478,000) (13,037,000)
Other (3,350,000) (2,044,000) (1,585,000)
Cash Used For Investing Activities (19,667,000) (129,561,000) (14,622,000)
Cash Flows from Financing Activities      
Proceeds From Long-term Debt 35,015,000 147,086,000 20,000,000
Principal Payments on Long-term Debt (72,834,000) (23,720,000) (41,835,000)
Purchase of Outstanding Shares for Treasury 0 (32,382,000) (17,618,000)
Payments of Debt Issuance Costs (516,000) 0 0
Proceeds from Exercise of Stock Options 2,201,000 441,000 3,813,000
Excess Tax Benefit from Exercise of Stock Options 0 0 834,000
Cash (Used for) Provided by Financing Activities (36,134,000) 91,425,000 (34,806,000)
Effect of Exchange Rates on Cash (372,000) 366,000 (86,000)
(Decrease) Increase in Cash and Cash Equivalents (1,292,000) 13,000 (660,000)
Cash and Cash Equivalents at Beginning of Year 17,914,000 17,901,000 18,561,000
Cash and Cash Equivalents at End of Year 16,622,000 17,914,000 17,901,000
Supplemental Cash Flow Information:      
Interest Paid 9,710,000 4,775,000 4,536,000
Income Taxes Paid, Net of Refunds $ 12,218,000 $ 10,777,000 $ 15,898,000