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, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities      
Net Income $ 19,679,000 $ 48,424,000 $ 66,974,000
Adjustments to Reconcile Net Income to Cash Provided By Operating Activities, Excluding the Effects of Acquisitions:      
Impairment charge 16,237,000 0 0
Depreciation and Amortization 27,063,000 25,790,000 25,309,000
Provision for Non-Cash Losses on Inventory and Receivables 2,973,000 2,404,000 3,187,000
Stock Compensation Expense 2,598,000 2,281,000 2,274,000
Deferred Tax Benefit (5,494,000) (4,756,000) (252,000)
Non-cash Adjustment to Contingent Consideration 0 0 (1,751,000)
Other (937,000) 165,000 (294,000)
Cash Flows from Changes in Operating Assets and Liabilities, net of the Effects from Acquisitions of Businesses:      
Accounts Receivable (9,844,000) (14,622,000) (729,000)
Inventories (18,116,000) (2,671,000) (2,537,000)
Prepaid Expenses and Other Current Assets (2,132,000) 108,000 (799,000)
Accounts Payable 10,439,000 (2,000,000) (2,168,000)
Accrued Expenses (702,000) (174,000) 3,738,000
Income Taxes Payable (376,000) 7,926,000 (9,266,000)
Customer Advanced Payments and Deferred Revenue (4,918,000) (15,539,000) (7,485,000)
Supplemental Retirement Plan and Other Liabilities 1,313,000 1,518,000 2,300,000
Cash Provided By Operating Activities 37,783,000 48,854,000 78,501,000
Cash Flows from Investing Activities      
Acquisitions of Business, Net of Cash Acquired (114,039,000) 0 (52,276,000)
Capital Expenditures (13,478,000) (13,037,000) (18,641,000)
Other (2,044,000) (1,585,000) (2,669,000)
Cash Used For Investing Activities (129,561,000) (14,622,000) (73,586,000)
Cash Flows from Financing Activities      
Proceeds From Long-term Debt 147,086,000 20,000,000 55,000,000
Principal Payments on Long-term Debt (23,720,000) (41,835,000) (67,694,000)
Purchase of Outstanding Shares for Treasury (32,382,000) (17,618,000) 0
Proceeds from Exercise of Stock Options 441,000 3,813,000 2,996,000
Excess Tax Benefit from Exercise of Stock Options 0 834,000 2,973,000
Cash Provided by (Used for) Financing Activities 91,425,000 (34,806,000) (6,725,000)
Effect of Exchange Rates on Cash 366,000 (86,000) (826,000)
Increase (Decrease) in Cash and Cash Equivalents 13,000 (660,000) (2,636,000)
Cash and Cash Equivalents at Beginning of Year 17,901,000 18,561,000 21,197,000
Cash and Cash Equivalents at End of Year 17,914,000 17,901,000 18,561,000
Supplemental Cash Flow Information:      
Interest Paid 4,775,000 4,536,000 4,734,000
Income Taxes Paid, Net of Refunds $ 10,777,000 $ 15,898,000 $ 32,990,000