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, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income (loss) $ 20,692 $ 5,183 $ (1,231)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 31,745 32,469 29,147
Deferred tax expense (benefit) (2,503) 2,624 524
Stock-based compensation 29,697 18,178 22,618
Excess tax benefit from stock options 0 0 161
Loss on disposal of assets 72 390 398
Impairment of assets 242 178 0
Acquisition-related contingent consideration 1,284 (722) (410)
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:      
Accounts receivable (13,669) (7,681) (11,101)
Customer deposits 0 50 12
Other current assets (341) 3,775 342
Other assets (330) (359) (930)
Accounts payable 1,765 (2,763) 4,224
Accrued compensation, taxes and benefits (1,259) 2,505 (1,186)
Deferred revenue 969 3,977 7,810
Other current and long-term liabilities 845 608 (1,152)
Net cash provided by operating activities 69,209 58,412 49,226
Cash flows from investing activities:      
Purchases of property, equipment and software (32,952) (18,774) (16,147)
Acquisition of businesses, net of cash acquired (28,229) (10,627) (89,749)
Intangible asset additions (927) (3,375) (1,850)
Net cash used by investing activities (62,108) (32,776) (107,746)
Cash flows from financing activities:      
Proceeds from public offerings, net of underwriting discount and offering costs 0 0 (775)
Payments on notes payable 0 0 (58,086)
Proceeds from revolving credit facility 0 0 50,312
Payments on revolving credit facility (10,000) (40,312) (7,953)
Payments on capital lease obligations (548) (65) (525)
Payments of deferred acquisition-related consideration (1,549) (11,557) (1,482)
Issuance of common stock 10,608 12,065 12,674
Excess tax benefit from stock options 0 0 (161)
Purchase of treasury stock (4,860) (3,185) (2,180)
Net cash used by financing activities (6,349) (43,054) (8,176)
Net increase (decrease) in cash and cash equivalents 752 (17,418) (66,696)
Effect of exchange rate on cash (54) (51) (41)
Cash and cash equivalents:      
Beginning of period 33,804 51,273 118,010
End of period 34,502 33,804 51,273
Supplemental cash flow information:      
Cash paid for interest 974 1,584 2,498
Cash paid for income taxes, net of refunds $ 525 $ 510 $ 1,024