Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash Flows from Operating Activities      
Net Income $ 21,874 $ 21,591 $ 14,948
Adjustments to Reconcile Net Income to Cash Provided By Operating Activities:      
Impairment Loss   2,500  
Depreciation and Amortization 6,905 4,943 4,881
Provision for Non-Cash Losses on Inventory and Receivables 1,632 802 1,134
Stock Compensation Expense 1,351 1,061 884
Deferred Tax Expense (Benefit) (1,544) 423 1,385
Other 154 (220) 67
Cash Flows from Changes in Operating Assets and Liabilities:      
Accounts Receivable (8,097) (3,042) (290)
Inventories (9,330) (883) (6,891)
Prepaid Expenses 335 291 (650)
Accounts Payable (537) (349) 3,156
Accrued Expenses 3,374 638 318
Customer Advanced Payments and Deferred Revenue 6,490 1,943 (1,099)
Billings in Excess of Recoverable Costs and Accrued Profits on Uncompleted Contracts (76) (1,255) (660)
Income Taxes Payable 669 (404) (347)
Supplemental Retirement Plan and Other Liabilities 978 (131) (333)
Cash Provided By Operating Activities 24,178 27,908 16,503
Cash Flows from Investing Activities      
Acquisition of Business (10,659) (23,926)  
Capital Expenditures (16,720) (14,281) (3,568)
Other   75 (46)
Cash Used For Investing Activities (27,379) (38,132) (3,614)
Cash Flows from Financing Activities      
Principal Payments on Long-term Debt (10,307) (5,302) (6,245)
Proceeds from Note Payable 10,000    
Payments on Note Payable (3,000)    
Debt Acquisition Costs   (143)  
Proceeds from Exercise of Stock Options 1,714 2,266 1,092
Income Tax Benefit from Exercise of Stock Options 1,252 1,614 22
Cash Used For Financing Activities (341) (1,565) (5,131)
Effect of Exchange Rates on Cash 3 (1) 2
(Decrease) Increase in Cash and Cash Equivalents (3,539) (11,790) 7,760
Cash and Cash Equivalents at Beginning of Year 10,919 22,709 14,949
Cash and Cash Equivalents at End of Year 7,380 10,919 22,709
Disclosure of Cash Payments for:      
Interest 1,068 1,900 2,604
Income Taxes, net $ 9,330 $ 5,785 $ 5,812