v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net earnings $ 45,115 $ 34,680
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and Amortization Expense 13,284 7,123
Stock-based compensation 2,900 1,775
Amortization of deferred financing costs 692 27
Deferred tax benefit (861) (2,930)
Unrealized gains on foreign currency revaluation (12,913) (355)
Gain on sale of property (4,075) 0
Other, net 1,595 652
Changes in operating assets and liabilities:    
Accounts receivable (8,203) 2,805
Unbilled receivables (1,400) 6,887
Inventories (122) 7,972
Accounts payable 3,511 (4,026)
Accrued expenses (8,641) (14,147)
Accrued restructuring costs (5,075) (1,553)
Income taxes payable 2,143 4,517
Other operating assets/liabilities, net 914 (5,083)
Net cash provided by operating activities 28,864 38,344
Cash flows from investing activities:    
Purchase of property, plant and equipment (6,718) (4,278)
Purchases of held to maturity U.S. securities 0 (122,345)
Proceeds from held to maturity securities 950 101,071
Investment in related party notes receivable (778) (633)
Proceeds from disposal/sale of property, plant and equipment 4,867 229
Net cash used in investing activities (1,679) (25,956)
Cash flows from financing activities:    
Dividends paid to common shareholders (1,660) (1,674)
Deferred financing costs (681) 0
Repayment of long-term debt (42,500) 0
Proceeds of long-term debt 5,000 0
Purchases of common stock 0 (14,175)
Net cash used in financing activities (39,841) (15,849)
Effect of exchange rate changes on cash and cash equivalents 3,687 (934)
Net decrease in cash and cash equivalents (8,969) (4,395)
Cash and cash equivalents - beginning of period 68,253 89,371
Cash and cash equivalents - end of period 59,284 84,976
Supplementary information:    
Income taxes, net of refunds received 11,422 8,277
Interest payments 8,188 1,985
ROU assets obtained in exchange for lease obligations $ 1,502 $ 4,239