|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Jun. 30, 2012
|
Jun. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 717 |
$ 22,892 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation of property and equipment |
12,156 |
7,504 |
| Amortization of intangibles |
14,705 |
7,268 |
| Deferred income taxes |
(2,806) |
801 |
| Provision for accounts receivable losses |
1,503 |
927 |
| Share-based compensation |
9,377 |
3,210 |
| Loss on sale of Springbox unit |
1,000 |
|
| Other |
423 |
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
6,243 |
10,813 |
| Other assets |
2,995 |
(4,604) |
| Accounts payable and other liabilities |
(15,435) |
2,862 |
| Deferred revenue |
(579) |
473 |
| Net cash provided by operating activities |
30,299 |
52,146 |
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment |
(13,815) |
(3,030) |
| Capitalized costs of developing software |
(6,274) |
(3,206) |
| Acquisitions, net of cash acquired |
(8,594) |
(43,800) |
| Long-term investment |
(1,017) |
|
| Proceeds from sale of short-term investments |
10,390 |
|
| Other |
1,037 |
29 |
| Net cash used in investing activities |
(18,273) |
(50,007) |
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of common stock, net of costs |
127 |
257 |
| Purchases of treasury stock |
|
(16,571) |
| Repayments of capital leases |
(266) |
(199) |
| Repayments of long-term debt |
(27,450) |
|
| Net cash used in financing activities |
(27,589) |
(16,513) |
| Effect of exchange rate changes on cash and cash equivalents |
16 |
136 |
| Net decrease in cash and cash equivalents |
(15,547) |
(14,238) |
| Cash and cash equivalents at beginning of year |
72,575 |
73,409 |
| Cash and cash equivalents at end of period |
57,028 |
59,171 |
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid for interest |
14,195 |
92 |
| Cash (received) paid for income taxes |
(1,112) |
16,618 |
| Non-cash component of purchase price to acquire a business |
5,645 |
|
| Landlord lease incentives |
$ 5,599 |
|