Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net earnings (loss) $ 16,434 $ (4,754)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation of property and equipment 20,542 20,769
Amortization of deferred financing costs 838 475
Amortization of intangible assets 453 453
Provision for bad debts and returns 1,424 1,707
Tax benefits from share-based compensation (4) (79)
Non-cash share-based compensation 1,159 6,650
Loss on disposal of property, plant and equipment 194 7
Deferred income taxes 3,299 (8,748)
(Increase) decrease in assets:    
Receivables (39,801) (58,258)
Inventories 51,392 (31,375)
Prepaid expenses and other current assets 3,271 56,563
Other assets (3,279) (538)
Increase (decrease) in liabilities:    
Accounts payable (18,666) 54,255
Accrued expenses (7,131) 2,731
Net cash provided by operating activities 30,125 39,858
Cash flows from investing activities:    
Capital expenditures (17,578) (22,588)
Net cash used in investing activities (17,578) (22,588)
Cash flows from financing activities:    
Net proceeds from the issuances of stock through employee stock purchase plan and the exercise of stock options 1,417 1,349
Payments on long-term debt (5,748) (5,030)
Increase in short-term borrowings (1,116) 9,805
Contribution from non-controlling interest of consolidated entity 3,152 0
Distributions to non-controlling interest of consolidated entity (1,675) 0
Net cash (used in) provided by financing activities (3,970) 6,124
Net increase in cash and cash equivalents 8,577 23,394
Effect of exchange rates on cash and cash equivalents (1,397) (349)
Cash and cash equivalents at beginning of the period 325,826 351,144
Cash and cash equivalents at end of the period 333,006 374,189
Cash paid (received) during the period for:    
Interest 5,152 5,749
Income taxes $ 4,600 $ (50,572)