|
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 22,898 |
$ 15,756 |
$ 13,301 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
12,160 |
9,332 |
8,732 |
| Loss on disposal of property and equipment |
31 |
81 |
33 |
| Amortization and loss on investments |
443 |
254 |
376 |
| Gain on auction-rate securities |
|
(40) |
|
| Deferred income tax assets |
(81) |
(8) |
(403) |
| Excess tax benefit from stock option transactions |
|
(869) |
(27) |
| Stock-based compensation |
20,701 |
18,652 |
13,126 |
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
(4,347) |
(4,286) |
3,250 |
| Inventories |
(7,606) |
(12,004) |
5,699 |
| Prepaid expenses and other current assets |
121 |
(456) |
673 |
| Accounts payable |
1,440 |
754 |
(957) |
| Accrued liabilities |
12,149 |
(2,097) |
(438) |
| Accrued income taxes payable and long-term income tax liabilities |
86 |
1,476 |
(169) |
| Accrued compensation and related benefits |
2,691 |
(1,633) |
489 |
| Net cash provided by operating activities |
60,686 |
24,912 |
43,685 |
| Cash flows from investing activities: |
|
|
|
| Property and equipment purchases |
(15,764) |
(21,059) |
(21,022) |
| Proceeds from sale of property and equipment |
88 |
13 |
|
| Premiums paid on deferred compensation plan |
(617) |
|
|
| Purchases of short-term investments |
(125,756) |
(143,094) |
(78,250) |
| Proceeds from sale of short-term investments |
85,700 |
135,183 |
129,719 |
| Proceeds from sale of long-term investments |
2,025 |
2,100 |
5,775 |
| Change in restricted assets |
|
20 |
|
| Net cash provided by (used in) investing activities |
(54,324) |
(26,837) |
36,222 |
| Cash flows from financing activities: |
|
|
|
| Property and equipment purchased on extended payment terms |
(557) |
|
|
| Proceeds from issuance of common shares |
37,877 |
13,390 |
4,697 |
| Proceeds from employee stock purchase plan |
2,145 |
1,852 |
1,773 |
| Repurchases of common shares |
(20,615) |
|
(38,472) |
| Dividend payment |
|
(35,664) |
|
| Excess tax benefits from stock option transactions |
|
869 |
27 |
| Net cash provided by (used in) financing activities |
18,850 |
(19,553) |
(31,975) |
| Effect of change in exchange rates |
897 |
211 |
429 |
| Net increase (decrease) in cash and cash equivalents |
26,109 |
(21,267) |
48,361 |
| Cash and cash equivalents, beginning of period |
75,104 |
96,371 |
48,010 |
| Cash and cash equivalents, end of period |
101,213 |
75,104 |
96,371 |
| Supplemental disclosures for cash flow information: |
|
|
|
| Cash paid for taxes |
1,116 |
807 |
675 |
| Supplemental disclosures of non-cash activities: |
|
|
|
| Liability accrued for property and equipment purchases |
$ 1,941 |
$ 1,728 |
$ 1,483 |