|
Condensed Consolidated Statements Of Cash Flows (USD $)
|
6 Months Ended |
|
Jun. 30, 2012
|
Jun. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net earnings |
$ 1,018,000 |
$ 570,000 |
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
1,661,000 |
1,541,000 |
| Bad debt expense |
106,000 |
179,000 |
| Provision for inventory reserves |
16,000 |
16,000 |
| Non-cash interest expense |
21,000 |
17,000 |
| Share based compensation expense |
747,000 |
437,000 |
| Stock issued in lieu of directors fees |
20,000 |
40,000 |
| Changes in assets and liabilities which provided (used) cash: |
|
|
| Accounts and note receivable |
(1,605,000) |
(95,000) |
| Inventory |
161,000 |
(185,000) |
| Prepaid expenses and other assets |
46,000 |
(469,000) |
| Other assets |
(311,000) |
(21,000) |
| Accounts payable |
(1,504,000) |
(1,535,000) |
| Other liabilities |
(102,000) |
(2,578,000) |
| Deferred revenues |
444,000 |
(27,000) |
| Income taxes |
(61,000) |
(93,000) |
| Other long-term liabilities |
(20,000) |
(66,000) |
| Other |
4,000 |
|
| Net cash provided by (used in) operating activities: |
641,000 |
(2,269,000) |
| Cash flows from investing activities: |
|
|
| Purchase of property and equipment |
(410,000) |
(433,000) |
| Purchase of intangible and other assets |
(1,337,000) |
(705,000) |
| Purchase of investment |
|
(322,000) |
| Net cash used in investing activities |
(1,747,000) |
(1,460,000) |
| Cash flows from financing activities: |
|
|
| Proceeds from exercise of common stock options and warrants |
185,000 |
1,240,000 |
| Purchase of treasury stock |
|
(2,897,000) |
| Principal payments on capital lease obligations |
(237,000) |
(221,000) |
| Fees paid for credit facility |
|
(100,000) |
| Proceeds from debt |
1,000,000 |
6,000,000 |
| Principal payments on debt |
(600,000) |
|
| Net cash provided by financing activities: |
348,000 |
4,022,000 |
| Effect of exchange differences on cash |
|
(1,000) |
| Net (decrease) increase in cash and cash equivalents |
(758,000) |
292,000 |
| Cash and cash equivalents at beginning of year |
9,547,000 |
10,251,000 |
| Cash and cash equivalents at end of period |
8,789,000 |
10,543,000 |
| Supplemental Disclosures of Cash Flow Information |
|
|
| Interest |
126,000 |
30,000 |
| Taxes |
$ 111,000 |
$ 123,000 |