Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Cash flows - operating activities: |
|
|
|
| Net income |
$ 17,132
|
$ 6,797
|
$ 6,347
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
13,696
|
15,312
|
16,275
|
| Deferred income taxes |
(1,166)
|
237
|
(3,749)
|
| Stock-based compensation expense |
5,066
|
3,579
|
3,747
|
| Accretion expense related to earnout payments |
1,294
|
1,854
|
2,082
|
| Cash paid for restructuring charges |
0
|
(142)
|
(999)
|
| Changes in assets and liabilities, net of effects of acquisitions: |
|
|
|
| Accounts receivables |
(8,714)
|
217
|
(3,161)
|
| Accounts payable |
810
|
(2,113)
|
(504)
|
| Accrued expenses |
37,207
|
29,979
|
12,888
|
| Deferred revenue |
(236)
|
3,486
|
2,735
|
| Income taxes (payable) recoverable, net |
(3,257)
|
1,482
|
4,292
|
| Retirement and pension plan assets and liabilities |
(1,142)
|
4,477
|
1,201
|
| Prepaid expenses |
(4,388)
|
(207)
|
(625)
|
| Other assets and liabilities, net |
1,281
|
(8,194)
|
3,504
|
| Net cash provided by operating activities |
57,583
|
56,764
|
44,033
|
| Cash flows - investing activities: |
|
|
|
| Restricted cash |
0
|
(53)
|
26
|
| Acquisition of business and earnout payments, net of cash acquired |
(10,312)
|
0
|
(1,023)
|
| Capital expenditures |
(16,427)
|
(3,359)
|
(3,731)
|
| Purchases of available for sale investments |
(1,526)
|
(963)
|
(749)
|
| Proceeds from sale of available for sale investments |
758
|
1,084
|
252
|
| Net cash used in investing activities |
(27,507)
|
(3,291)
|
(5,225)
|
| Cash flows - financing activities: |
|
|
|
| Proceeds from debt issuance |
0
|
0
|
40,000
|
| Debt repayment |
(29,500)
|
(6,000)
|
(4,500)
|
| Debt issuance costs |
(473)
|
0
|
0
|
| Cash dividends paid |
(9,991)
|
(9,864)
|
(7,260)
|
| Payment of employee tax withholdings on equity transactions |
(878)
|
(406)
|
(713)
|
| Acquisition earnout payments |
(5,496)
|
(3,390)
|
(357)
|
| Net cash (used in) provided by financing activities |
(46,338)
|
(19,660)
|
27,170
|
| Effect of exchange rates fluctuations on cash and cash equivalents |
(4,638)
|
(4,107)
|
(1,937)
|
| Net (decrease) increase in cash and cash equivalents |
(20,900)
|
29,706
|
64,041
|
| Cash and cash equivalents at beginning of period |
211,352
|
181,646
|
117,605
|
| Cash and cash equivalents at end of period |
190,452
|
211,352
|
181,646
|
| Supplemental Schedule of Non-cash Financing Activities: |
|
|
|
| Term loan facility retirement |
26,500
|
0
|
0
|
| Subsequent drawing on line of credit |
26,500
|
0
|
0
|
| Cash paid for |
|
|
|
| Gross income taxes |
16,936
|
14,175
|
6,650
|
| Interest |
$ 442
|
$ 861
|
$ 879
|