Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net (loss) income $ (7,127) $ 5,628
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 19,571 15,218
Deferred tax expense (benefit) (3,850) 3,046
Stock-based compensation 19,258 13,306
Loss on disposal of assets 20 273
Acquisition-related contingent consideration (66) 1,445
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:    
Accounts receivable 6,795 (6,506)
Customer deposits (1) 0
Other current assets (1,187) (1,230)
Other assets (888) (274)
Accounts payable 7,458 2,992
Accrued compensation, taxes and benefits (84) (1,377)
Deferred revenue 1,588 810
Other current and long-term liabilities 1,261 1,252
Net cash provided by operating activities 42,748 34,583
Cash flows from investing activities:    
Purchases of property, equipment and software (19,135) (13,393)
Acquisition of businesses, net of cash acquired (42,053) (10,196)
Intangible asset additions 0 (600)
Net cash used in investing activities (61,188) (24,189)
Cash flows from financing activities:    
Proceeds from (payments on) revolving credit facility, net 25,000 (10,000)
Payments on capital lease obligations (280) (273)
Payments of deferred acquisition-related consideration (748) (486)
Issuance of common stock 5,016 2,993
Purchase of treasury stock (5,824) (2,065)
Net cash provided by (used in) financing activities 23,164 (9,831)
Net increase (decrease) in cash and cash equivalents 4,724 563
Effect of exchange rate on cash (9) (48)
Cash and cash equivalents:    
Beginning of period 34,502 33,804
End of period 39,217 34,319
Supplemental cash flow information:    
Cash paid for interest 282 369
Cash paid for income taxes, net of refunds 287 365
Non-cash financing activities:    
Fixed assets acquired under capital lease $ 0 $ 1,976