|
CONSOLIDATED STATEMENTS OF CASH FLOWS (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 (loss) |
$ 7,370 |
$ (2,805) |
$ 12,261 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
8,896 |
10,724 |
12,068 |
| Charge to vacate a facility |
0 |
1,980 |
0 |
| Loss (gain) on disposal of fixed assets |
145 |
8 |
(62) |
| Share-based compensation expense |
5,832 |
9,912 |
9,758 |
| Deferred income tax benefit |
(1,560) |
(4,125) |
(384) |
| Impairment of supplier advance |
0 |
2,100 |
0 |
| Write-off of debt issuance costs |
0 |
1,079 |
0 |
| Other non-cash charges |
48 |
179 |
41 |
| Changes in operating assets and liabilities: |
|
|
|
| Receivables |
749 |
2,711 |
(1,942) |
| Inventories |
(2,451) |
7,877 |
(2,767) |
| Other assets |
1,192 |
2,466 |
15,313 |
| Accounts payable |
6,018 |
(9,213) |
6,777 |
| Accrued payroll and related benefits |
5,397 |
647 |
(4,195) |
| Deferred revenue |
885 |
427 |
(1,572) |
| Income taxes |
2,316 |
(764) |
2,144 |
| Other accrued expenses and liabilities |
549 |
(413) |
(111) |
| Net cash provided by operating activities |
35,386 |
22,790 |
47,329 |
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
| Purchases of short term investments |
(24,513) |
(10,549) |
(10,067) |
| Proceeds from sales of short term investments |
11,137 |
17,382 |
20,897 |
| Capital additions |
(7,614) |
(9,601) |
(8,041) |
| Proceeds from the sale of fixed assets |
28 |
0 |
122 |
| Net cash (used in) provided by investing activities |
(20,962) |
(2,768) |
2,911 |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
| Borrowings under credit facility |
0 |
0 |
30,000 |
| Repayments of borrowings under credit facility |
0 |
(30,000) |
(30,000) |
| Debt issuance costs |
0 |
(207) |
(991) |
| Exercise of stock options |
0 |
10 |
129 |
| Taxes related to equity compensation awards, net |
(825) |
(1,361) |
(2,842) |
| Payment of dividends |
(20,013) |
(19,872) |
(19,318) |
| Net cash used in financing activities |
(20,838) |
(51,430) |
(23,022) |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |
(6,414) |
(31,408) |
27,218 |
| CASH AND CASH EQUIVALENTS, beginning of year |
16,186 |
47,594 |
20,376 |
| CASH AND CASH EQUIVALENTS, end of year |
$ 9,772 |
$ 16,186 |
$ 47,594 |