Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 31,035 $ 23,578
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 424 536
Stock-based compensation 0 35
Cumulative translation adjustment realized in net income 0 (258)
Deferred income taxes 358 (1,644)
Changes in assets and liabilities:    
Inventories (3,879) 2,843
Other current assets 2,065 (3,399)
Other assets (55) (61)
Accounts payable (116) (392)
Income taxes payable (2,077) 18,676
Accrued commissions 1,410 (2,417)
Other accrued expenses (883) (6,033)
Deferred revenue 2,359 (481)
Amounts held in eWallets (509) (3,875)
Other current liabilities (326) (179)
Long-term incentive (96) (324)
Net cash provided by operating activities 29,710 26,605
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (214) (278)
Net cash used in investing activities (214) (278)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Dividends paid (31,512) (17,218)
Net cash used in financing activities (31,512) (17,218)
Effect of exchange rates on cash, cash equivalents and restricted cash (811) 485
Net (decrease) increase in cash, cash equivalents and restricted cash (2,827) 9,594
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 138,478 128,884
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 135,651 138,478
SUPPLEMENTAL CASH FLOW DISCLOSURE:    
Cash paid for income taxes, net 3,130 6,772
Issuance of treasury stock for employee awards, net $ 554 $ 1,393