CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands |
6 Months Ended |
|
Jun. 30, 2018
USD ($)
|
Jun. 30, 2017
USD ($)
|
| Operating activities |
|
|
| Net income |
$ 7,606
|
$ 4,562
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation expense |
1,853
|
1,762
|
| Amortization of intangible assets |
2,885
|
2,551
|
| Loss on disposal of fixed assets |
10
|
|
| Provision for doubtful accounts |
286
|
264
|
| Investment discount and premium amortization |
(192)
|
(23)
|
| Stock-based compensation |
6,656
|
6,163
|
| Tax benefit from business acquisition |
|
(2,415)
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable, net |
(374)
|
(1,186)
|
| Inventories |
(4,942)
|
(3,369)
|
| Prepaid expenses and other current assets |
(1,081)
|
1,198
|
| Other assets |
161
|
(601)
|
| Accounts payable |
550
|
875
|
| Accrued liabilities |
(2,090)
|
(1,653)
|
| Deferred revenue |
421
|
412
|
| Other long-term liabilities |
295
|
252
|
| Net cash provided by operating activities |
12,044
|
8,792
|
| Investing activities |
|
|
| Purchases of available-for-sale investments |
(32,372)
|
(28,933)
|
| Proceeds from sales of available-for-sale investments |
1,000
|
950
|
| Proceeds from maturities of available-for-sale investments |
31,750
|
20,268
|
| Purchases of property and equipment |
(1,851)
|
(1,618)
|
| Business acquisitions, net of cash acquired |
(343)
|
(7,881)
|
| Net cash used in investing activities |
(1,816)
|
(17,214)
|
| Financing activities |
|
|
| Proceeds from exercise of options for common stock |
3,155
|
7,775
|
| Payments for taxes related to net share settlement of equity awards |
(4,608)
|
(2,596)
|
| Repurchase of common stock |
(11,050)
|
(1,821)
|
| Payment of debt issuance costs |
(113)
|
|
| Net cash (used in) provided by financing activities |
(12,616)
|
3,358
|
| Effect of exchange rate changes on cash and cash equivalents |
(150)
|
330
|
| Net change in cash and cash equivalents |
(2,538)
|
(4,734)
|
| 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 |
27,496
|
30,326
|
| Supplemental disclosure of cash flow information |
|
|
| Cash paid for interest |
66
|
63
|
| Cash paid for taxes |
685
|
834
|
| Supplemental schedule of non-cash investing and financing activities |
|
|
| Business acquisitions holdback liability |
|
1,068
|
| Purchases of property and equipment financed by accounts payable |
584
|
178
|
| Net unrealized losses on available-for-sale investments |
$ (35)
|
$ (3)
|