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, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net income (loss) $ 5,183 $ (1,231) $ 67
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 32,469 29,147 20,956
Deferred tax expense (benefit) 2,624 524 (85)
Stock-based compensation 18,178 22,618 7,340
Excess tax benefit from stock options   161 (161)
Loss on disposal of assets 390 398 57
Impairment of assets 178   33
Acquisition-related contingent consideration (722) (410) 8
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:      
Accounts receivable (7,681) (11,101) (2,068)
Customer deposits 50 12 (334)
Other current assets 3,775 342 (3,162)
Other assets (359) (930) 155
Accounts payable (2,763) 4,224 699
Accrued compensation, taxes and benefits 2,505 (1,186) 404
Deferred revenue 3,977 7,810 1,319
Other current and long-term liabilities 608 (1,152) 2,462
Net cash provided by operating activities 58,412 49,226 27,690
Cash flows from investing activities:      
Purchases of property, equipment and software (18,774) (16,147) (12,178)
Acquisition of businesses, net of cash acquired (10,627) (89,749) (70,917)
Intangible asset additions (3,375) (1,850)  
Net cash used by investing activities (32,776) (107,746) (83,095)
Cash flows from financing activities:      
Proceeds from public offerings, net of underwriting discount and offering costs   (775) 155,946
Proceeds from notes payable     40,000
Payments on notes payable   (58,086) (26,257)
Proceeds from revolving credit facility   50,312  
Payments on revolving credit facility (40,312) (7,953)  
Payments on capital lease obligations (65) (525) (1,539)
Payments of deferred acquisition-related consideration (11,557) (1,482) (1,024)
Preferred stock dividend     (666)
Issuance of common stock 12,065 12,674 2,403
Excess tax benefit from stock options   (161) 161
Purchase of treasury stock (3,185) (2,180) (20)
Net cash (used) provided by financing activities (43,054) (8,176) 169,004
Net (decrease) increase in cash and cash equivalents (17,418) (66,696) 113,599
Effect of exchange rate on cash (51) (41) (16)
Cash and cash equivalents:      
Beginning of period 51,273 118,010 4,427
End of period 33,804 51,273 118,010
Supplemental cash flow information:      
Cash paid for interest 1,584 2,498 5,268
Cash paid for income taxes, net of refunds 510 1,024 193
Non-cash financing activities:      
Accrued dividends and accretion of preferred stock     3,030
Conversion of preferred stock to common shares     $ 73,761