|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Cash flows from operating activities: |
|
|
|
| Net income (loss) |
$ (19,090) |
$ 1,817 |
$ (35,196) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
| Amortization and depreciation |
4,105 |
6,683 |
8,457 |
| Accretion of interest expense |
|
|
362 |
| Acquisition and separation related costs |
(68) |
(62) |
(132) |
| Impairment of goodwill |
|
|
16,739 |
| (Gain) loss on sales of fixed assets, net |
|
7 |
|
| Gain on sale of discontinued operations |
(422) |
(1,492) |
|
| Gain on sales and disposals of intangible assets, net |
|
(3,774) |
(6,296) |
| Allowance for doubtful accounts and advertiser credits |
1,528 |
1,722 |
1,780 |
| Stock-based compensation |
11,903 |
9,264 |
15,696 |
| Deferred income taxes |
24,390 |
1,968 |
16,586 |
| Excess tax benefit related to stock-based compensation |
|
|
(308) |
| Change in certain assets and liabilities: |
|
|
|
| Accounts receivable, net |
2,536 |
(5,732) |
2,948 |
| Refundable taxes, net |
(34) |
167 |
(100) |
| Prepaid expenses and other current assets |
(104) |
(338) |
1,884 |
| Accounts payable |
(2,199) |
3,513 |
(550) |
| Accrued expenses and other current liabilities |
(480) |
(39) |
(1,704) |
| Deferred revenue |
729 |
(49) |
79 |
| Other non-current liabilities |
(375) |
(59) |
(344) |
| Net cash provided by operating activities |
22,419 |
13,596 |
19,901 |
| Cash flows from investing activities: |
|
|
|
| Purchases of property and equipment |
(3,265) |
(3,041) |
(2,879) |
| Proceeds from sales of property and equipment |
|
9 |
|
| Proceeds from sales of intangible assets |
|
3,775 |
6,319 |
| Purchases of intangibles and changes in other non-current assets |
(217) |
(154) |
(120) |
| Proceeds from sale of discontinued operations |
304 |
1,058 |
|
| Net cash provided by (used in) investing activities |
(3,178) |
1,647 |
3,320 |
| Cash flows from financing activities: |
|
|
|
| Excess tax benefit related to stock-based compensation |
|
|
308 |
| Proceeds from offering, net of costs |
32,527 |
|
|
| Tax withholding related to restricted stock awards |
(1,080) |
(3,150) |
(226) |
| Repurchase of Class B common stock for treasury stock |
(2,486) |
(119) |
(1,651) |
| Common stock dividends payments |
(3,330) |
|
(9,376) |
| Proceeds from exercises of stock option and vesting of restricted stock units |
4,181 |
2,931 |
27 |
| Proceeds from issuance of restricted stock to employees, net of repurchases of forfeited unvested restricted stock |
|
5 |
8 |
| Deferred acquisition payments |
|
|
(33,860) |
| Proceeds from employee stock purchase plan |
67 |
72 |
36 |
| Net cash provided by (used in) financing activities |
29,879 |
(261) |
(44,734) |
| Net increase (decrease) in cash and cash equivalents |
49,120 |
14,982 |
(21,513) |
| Cash and cash equivalents at beginning of period |
30,912 |
15,930 |
37,443 |
| Cash and cash equivalents at end of period |
80,032 |
30,912 |
15,930 |
| Supplemental disclosure of cash flow information: |
|
|
|
| Cash received (paid) during the period for income taxes, net |
(70) |
19 |
117 |
| Cash paid during the period for interest accretion on deferred payment |
|
|
881 |
| Cash paid during the period for interest, net |
74 |
80 |
62 |
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
|
| Deferred payments related to acquisition |
|
|
835 |
| Property and equipment acquired in accounts payable and accrued expenses |
157 |
167 |
239 |
| Tax withholding related to restricted stock awards in accrued expenses |
|
|
$ 1,384 |