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
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 15,202 $ 17,446
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 14,274 15,055
Loss on Disposition of Property Plant Equipment, Total 79 235
Deferred taxes 2,551 (423)
Stock-based compensation cost, net 1,610 1,173
Earn-out obligation adjustment 2,758 108
Changes in operating assets and liabilities:    
Receivables, net 14,548 19,857
Inventories (7,672) 1,292
Other current assets and noncurrent assets (2,560) (6,176)
Accounts payable and deferred compensation 2,429 (3,293)
Accrued expenses and other current liabilities (2,898) (4,631)
Other liabilities 232 (236)
Long-term lease obligations (835) (765)
Net cash provided by operating activities 39,718 39,642
Cash flows from investing activities:    
Purchases of property and equipment (2,725) (3,259)
Net cash used in investing activities (2,725) (3,259)
Cash flows from financing activities:    
Borrowings on loan arrangement 210,552 217,297
Repayments on loan arrangement (243,023) (252,596)
Earn-out obligation payments (1,972) (180)
Payments on capital lease obligations (629) (537)
Payment of taxes for equity transactions (314) (257)
Dividends paid (1,499) (1,331)
Net cash used in financing activities (36,885) (37,604)
Net increase (decrease) in cash and cash equivalents 108 (1,221)
Cash and cash equivalents at beginning of period 220 1,501
Cash and cash equivalents at end of period $ 328 $ 280