CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Operating activities |
|
|
| Net income |
$ 966
|
$ 821
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation expense |
969
|
929
|
| Amortization of intangible assets |
1,446
|
1,230
|
| Loss on disposal of fixed assets |
14
|
|
| Provision for doubtful accounts |
71
|
137
|
| Investment discount and premium amortization |
(83)
|
|
| Stock-based compensation |
3,335
|
3,254
|
| Tax benefit from business acquisition |
|
(2,415)
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable, net |
3,235
|
2,199
|
| Inventories |
(2,003)
|
(928)
|
| Prepaid expenses and other current assets |
(916)
|
345
|
| Other assets |
194
|
(385)
|
| Accounts payable |
(3,923)
|
(136)
|
| Accrued liabilities |
(3,083)
|
(2,662)
|
| Deferred revenue |
163
|
65
|
| Other long-term liabilities |
84
|
5
|
| Net cash provided by operating activities |
469
|
2,459
|
| Investing activities |
|
|
| Purchases of available-for-sale investments |
(19,501)
|
(14,678)
|
| Proceeds from sales of available-for-sale investments |
1,000
|
|
| Proceeds from maturities of available-for-sale investments |
18,200
|
14,560
|
| Purchases of property and equipment |
(892)
|
(922)
|
| Business acquisitions, net of cash acquired |
|
(7,917)
|
| Net cash used in investing activities |
(1,193)
|
(8,957)
|
| Financing activities |
|
|
| Proceeds from exercise of options for common stock |
2,089
|
3,535
|
| Payments for taxes related to net share settlement of equity awards |
(3,614)
|
(2,067)
|
| Repurchase of common stock |
(7,448)
|
(1,821)
|
| Payment of debt issuance costs |
(113)
|
|
| Net cash used in financing activities |
(9,086)
|
(353)
|
| Effect of exchange rate changes on cash and cash equivalents |
48
|
258
|
| Net change in cash and cash equivalents |
(9,762)
|
(6,593)
|
| Unrestricted and restricted cash and cash equivalents at beginning of period |
30,034
|
35,060
|
| Unrestricted and restricted cash and cash equivalents at end of period |
20,272
|
28,467
|
| Supplemental disclosure of cash flow information |
|
|
| Cash paid for interest |
25
|
34
|
| Cash paid for taxes |
167
|
12
|
| Supplemental schedule of non-cash investing and financing activities |
|
|
| Business acquisitions holdback liability |
|
1,438
|
| Purchases of property and equipment financed by accounts payable |
207
|
93
|
| Net unrealized losses on available-for-sale investments |
$ (64)
|
$ (4)
|