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, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net (loss) income $ (1,231) $ 67 $ 28,429
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 29,147 20,956 14,769
Deferred tax expense (benefit) 524 (85) (26,308)
Stock-based compensation 22,618 7,340 2,805
Excess tax benefit from stock options 161 (161)  
Loss on disposal of assets 398 57 127
Impairment of assets   33 119
Acquisition-related contingent consideration (410) 8  
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:      
Accounts receivable (11,101) (2,068) 2,407
Customer deposits 12 (334) 255
Other current assets 342 (3,162) 559
Other assets (930) 155 (1,140)
Accounts payable 4,224 699 645
Accrued compensation, taxes and benefits (1,186) 404 (461)
Deferred revenue 7,810 1,319 1,094
Other current and long-term liabilities (1,152) 2,462 1,458
Net cash provided by operating activities 49,226 27,690 24,758
Cash flows from investing activities:      
Purchases of property, equipment and software (16,147) (12,178) (9,509)
Acquisition of businesses, net of cash acquired (91,231) (71,941) (15,167)
Intangible asset additions (1,850)    
Net cash used by investing activities (109,228) (84,119) (24,676)
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 35,000
Payments on notes payable (58,086) (26,257) (16,853)
Proceeds from revolving credit facility 50,312   (10,000)
Payments on revolving credit facility (7,953)    
Payments on capital lease obligations (525) (1,539) (5,592)
Preferred stock dividend   (666) (2,516)
Issuance of common stock 12,674 2,403 547
Excess tax benefit from stock options (161) 161  
Purchase of treasury stock (2,180) (20) (489)
Net cash (used) provided by financing activities (6,694) 170,028 97
Net (decrease) increase in cash and cash equivalents (66,696) 113,599 179
Effect of exchange rate on cash (41) (16)  
Cash and cash equivalents:      
Beginning of period 118,010 4,427 4,248
End of period 51,273 118,010 4,427
Supplemental cash flow information:      
Cash paid for interest 2,498 5,268 3,833
Cash paid for income taxes, net of refunds 1,024 193 228
Non-cash financing activities:      
Fixed assets acquired under capital leases     2,462
Accrued dividends and accretion of preferred stock   3,030 5,678
Conversion of preferred stock to common shares   $ 73,761 $ 3,005