Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 28, 2019 |
Jun. 29, 2018 |
| Operating activities |
|
|
| Net income |
$ 14,708
|
$ 15,307
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation expense |
1,538
|
687
|
| Amortization of intangible assets |
1,277
|
937
|
| Loss on disposal of property, plant, and equipment |
2
|
51
|
| Stock-based compensation |
4,031
|
2,521
|
| Amortization of debt issuance costs |
201
|
213
|
| Changes in assets and liabilities: |
|
|
| Receivables |
(224)
|
(8,820)
|
| Other assets |
(7,128)
|
(4,518)
|
| Accounts payable |
2,038
|
693
|
| Deferred taxes |
(2,579)
|
(1,274)
|
| Compensation and other employee benefits |
3,324
|
(1,950)
|
| Other liabilities |
(1,738)
|
325
|
| Net cash provided by operating activities |
15,450
|
4,172
|
| Investing activities |
|
|
| Purchases of capital assets and intangibles |
(11,739)
|
(764)
|
| Acquisition of business, net of cash acquired |
0
|
(37,210)
|
| Net cash used in investing activities |
(11,739)
|
(37,974)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(2,000)
|
(2,000)
|
| Proceeds from revolver |
98,000
|
55,000
|
| Repayments of revolver |
(98,000)
|
(55,000)
|
| Proceeds from exercise of stock options |
3,467
|
1,358
|
| Payments of employee withholding taxes on share-based compensation |
(768)
|
(803)
|
| Net cash provided by (used in) financing activities |
699
|
(1,445)
|
| Exchange rate effect on cash |
(226)
|
(1,248)
|
| Net change in cash |
4,184
|
(36,495)
|
| Cash-beginning of year |
66,145
|
77,453
|
| Cash-end of period |
70,329
|
40,958
|
| Supplemental disclosure of cash flow information: |
|
|
| Interest paid |
2,818
|
2,119
|
| Income taxes paid |
4,198
|
7,891
|
| Non-cash investing activities: |
|
|
| Purchase of capital assets on account |
$ 301
|
$ 481
|