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
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net income $ 1,575 $ (3,404)
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 2,279 2,015
Amortization of deferred financing costs and debt discount 190 189
Loss recognized on impairment of assets held for sale   647
Stock-based compensation 1,022 935
Provision for losses on accounts receivable 76 113
Deferred income taxes 1,302 1,222
Earnout liability 136  
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 28,777 14,013
Inventories (18,902) (14,807)
Prepaid and other assets and prepaid income taxes (1,318) (4,128)
Accounts payable (2,761) (2,849)
Accrued expenses and other current liabilities (1,931) (1,584)
Deferred compensation (70) (157)
Benefit obligations and other long-term liabilities (151) 647
Net cash used in operating activities 10,224 (7,148)
Investing activities    
Capital expenditures (1,290) (843)
Net cash used in investing activities (1,290) (843)
Financing activities    
Shares withheld on restricted stock vesting paid for employees' taxes (69) (137)
Dividends paid (4,893) (4,647)
Revolver borrowings (13,000)  
Repayment of long-term debt (288) (288)
Net cash provided by (used in) financing activities (18,250) (5,072)
Change in cash and cash equivalents (9,316) (13,063)
Cash and cash equivalents at beginning of period 19,864 24,136
Cash and cash equivalents at end of period $ 10,548 $ 11,073