Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Operating activities    
Net income $ 2,505 $ 4,705
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 4,149 4,003
Amortization of deferred financing costs and debt discount 378 565
Loss recognized on impairment of assets held for sale 647  
Stock-based compensation 1,459 906
Provision for losses on accounts receivable 98 227
Deferred income taxes 1,849 2,539
Changes in operating assets and liabilities:    
Accounts receivable (12,566) (16,821)
Inventories (7,985) (8,820)
Prepaid and other assets and prepaid income taxes (1,091) (610)
Accounts payable (2,449) (527)
Accrued expenses and other current liabilities 583 (3,430)
Deferred compensation (156) (156)
Benefit obligations and other long-term liabilities 749 375
Net cash used in operating activities (11,830) (17,044)
Investing activities    
Capital expenditures (1,463) (1,016)
Proceeds from sale of equipment   80
Acquisition of Trynex (26,734)  
Net cash used in investing activities (28,197) (936)
Financing activities    
Shares withheld on restricted stock vesting paid for employees' taxes (160)  
Dividends paid (9,290) (9,087)
Revolver borrowings 28,000 2,000
Repayment of long-term debt (575) (10,575)
Net cash provided by (used in) financing activities 17,975 (17,662)
Change in cash and cash equivalents (22,052) (35,642)
Cash and cash equivalents at beginning of period 24,136 39,432
Cash and cash equivalents at end of period $ 2,084 $ 3,790