Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income (loss) $ 2,996 $ (1,608)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 12,607 10,611
Deferred taxes 1,539 (2,108)
Stock-based compensation 8,391 10,747
Excess tax benefit from stock options (27) 0
Impairment of identified intangible assets 0 527
Loss on disposal and impairment of other long-lived assets 0 592
Acquisition-related consideration (126) 377
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:    
Accounts receivable 4,952 4,032
Prepaid expenses and other current assets (17) (1,176)
Other assets 117 79
Accounts payable 1,106 170
Accrued compensation, taxes, and benefits (2,332) 1,372
Deferred revenue (1,597) (1,227)
Other current and long-term liabilities 1,360 110
Net cash provided by operating activities 28,969 22,498
Cash flows from investing activities:    
Purchases of property, equipment, and software (10,217) (6,182)
Acquisition of businesses, net of cash acquired (59,152) 0
Net cash used in investing activities (69,369) (6,182)
Cash flows from financing activities:    
Proceeds from term loan 124,688 0
Payments on revolving line of credit (40,000) (5,000)
Deferred financing costs (392) (8)
Payments on capital lease obligations (152) (143)
Payments of acquisition-related consideration (2,361) (1,139)
Issuance of common stock 2,482 755
Net excess tax benefit from stock-based compensation 27 0
Purchase of treasury stock (17,400) (9,766)
Net cash provided by (used in) financing activities 66,892 (15,301)
Net increase in cash and cash equivalents 26,492 1,015
Effect of exchange rate on cash 96 (164)
Cash and cash equivalents:    
Beginning of period 30,911 26,936
End of period 57,499 27,787
Supplemental cash flow information:    
Cash paid for interest 512 180
Cash paid for income taxes, net of refunds 191 76
Non-cash investing activities:    
Accrued property, equipment, and software $ 8,640 $ 647