|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2012
|
Mar. 31, 2011
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 988 |
$ 12,679 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation of property and equipment |
5,965 |
3,553 |
| Amortization of intangibles |
7,264 |
3,484 |
| Deferred income taxes |
(1,156) |
2,686 |
| Provision for accounts receivable losses |
603 |
527 |
| Share-based compensation |
4,471 |
1,294 |
| Other |
230 |
(19) |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
10,102 |
7,557 |
| Other assets |
(4,606) |
(1,025) |
| Accounts payable and other liabilities |
(11,453) |
(2,569) |
| Deferred revenue |
(377) |
291 |
| Net cash provided by operating activities |
12,031 |
28,458 |
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment |
(5,445) |
(1,420) |
| Capitalized costs of developing software |
(2,940) |
(1,368) |
| Long-term investment |
(1,000) |
|
| Proceeds from sale of short-term investments |
3,350 |
|
| Other |
(13) |
29 |
| Net cash used in investing activities |
(6,048) |
(2,759) |
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of common stock, net of costs |
91 |
208 |
| Purchases of treasury stock |
|
(16,571) |
| Repayments of capital leases |
(133) |
(99) |
| Repayments of long-term debt |
(26,225) |
|
| Net cash used in financing activities |
(26,267) |
(16,462) |
| Effect of exchange rate changes on cash and cash equivalents |
580 |
85 |
| Net increase (decrease) in cash and cash equivalents |
(19,704) |
9,322 |
| Cash and cash equivalents at beginning of year |
72,575 |
73,409 |
| Cash and cash equivalents at end of period |
52,871 |
82,731 |
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid for interest |
7,238 |
11 |
| Cash paid for income taxes |
$ 3,619 |
$ 3,279 |