Cash flows from operating activities: |
Net income |
9.24M |
Adjustments to reconcile net income to net cash provided by operating activities: |
Depreciation expense |
470K |
Amortization of intangible assets |
2.62M |
Deferred income taxes |
-340K |
Allowance for doubtful accounts |
-102K |
Loss on disposal of property and equipment |
0 |
Share-based compensation |
5.77M |
Change in current assets and liabilities: |
Accounts receivable, net |
-16.21M |
Bills receivable |
-1.25M |
Inventories |
-23.73M |
Prepaid expenses and other receivables |
2.73M |
Accounts payable |
13.8M |
Income taxes receivable |
210K |
Income taxes payable |
-855K |
Accrued expenses and other liabilities |
-1.64M |
Net cash used in operating activities |
-9.29M |
Cash flows from investing activities: |
Increase in pledged bank deposits |
-8.6M |
Payment for acquisitions of subsidiaries |
-11.07M |
Purchases of property and equipment |
-679K |
Net cash used in investing activities |
-20.35M |
Cash flows from financing activities: |
Purchase of treasury stock |
-4.87M |
Proceeds from bank borrowings |
11.36M |
Net cash provided by financing activities |
6.5M |
Effect of exchange rate changes on cash |
-515K |
Net increase (decrease) in cash |
-23.66M |
Cash at beginning of the period |
108.25M |
Cash at end of the period |
84.59M |
Supplementary cash flow information: |
Interest paid |
1.06M |
Income tax paid |
2.08M |