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 $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (155,018) $ 2,146,153
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 1,627,804 1,636,887
Share-based compensation 7,763 366,574
Deferred taxes (693,619) 129,918
Impairment loss 5,849,853  
Change in fair value of acquisition-related contingent consideration (352,462) (161,644)
Loss/(gain) on sale of assets 78,065 (87,801)
Excess tax benefit from share based payments (13,562) (67,932)
Changes in assets and liabilities:    
Trade receivables (22,042,463) (2,101,517)
Inventories 5,187,881 (2,493,891)
Prepaid income taxes 2,126,683 890,067
Other assets 106,675 (2,815)
Accounts payable (4,243,547) (797,081)
Accrued compensation and benefits 560,605 (2,554,475)
Other accrued liabilities 161,650 (109,789)
Income taxes payable (38,272) (23,475)
Net cash used in operating activities (11,831,964) (3,230,821)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (1,977,058) (2,047,771)
Purchases of investments (2,824,848) (13,599,917)
Proceeds from the sale of fixed assets 56,394 161,663
Proceeds from the sale of investments 9,794,000 15,556,039
Net cash provided by investing activities 5,048,488 70,014
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (2,730,265) (4,005,003)
Mortgage principal payments (340,161) (317,765)
Proceeds from issuance of common stock 247,178 249,847
Excess tax benefit from stock based payments 13,562 67,932
Payment of contingent consideration related to acquisition (161,060) (357,879)
Purchase of common stock   (252,647)
Net cash used in financing activities (2,970,746) (4,615,515)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH (11,612) 25,011
NET DECREASE IN CASH AND CASH EQUIVALENTS (9,765,834) (7,751,311)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 17,869,712 22,515,710
CASH AND CASH EQUIVALENTS AT END OF YEAR 8,103,878 14,764,399
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes (refunded)/paid (85,297) 74,508
Interest paid 79,293 103,945
Dividends declared not paid $ 1,367,724 $ 1,363,430