CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net income (loss) |
$ 22,251
|
$ (3,410)
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
| Amortization of deferred revenue |
(5,281)
|
(7,031)
|
| Depreciation |
3,002
|
2,223
|
| Amortization of intangibles |
11,039
|
8,249
|
| Inventory write-down |
|
33,000
|
| Amortization of premium and discount on investments, net |
(1,316)
|
(479)
|
| Stock-based compensation to employees |
8,231
|
6,759
|
| Stock-based compensation to Board of Directors and Scientific Advisory Board |
1,273
|
818
|
| Deferred income tax benefit |
4,726
|
4,291
|
| Retirement plan benefit expense |
3,004
|
2,433
|
| Decrease (increase) in assets, net of effect of acquisition: |
|
|
| Accounts receivable |
3,723
|
(6,275)
|
| Inventory |
(3,249)
|
(9,579)
|
| Other current assets |
(4,977)
|
(167)
|
| Other assets |
(249)
|
193
|
| Increase (decrease) in liabilities, net of effect of acquisition: |
|
|
| Accounts payable and accrued expenses |
(5,134)
|
1,192
|
| Other current liabilities |
(5)
|
(7)
|
| Deferred revenue |
3,296
|
48,411
|
| Net cash provided by operating activities |
40,334
|
80,621
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Purchases of property and equipment |
(4,361)
|
(4,650)
|
| Purchase of intangibles |
(95,989)
|
|
| Purchase of business, net of cash acquired |
(33,163)
|
|
| Purchases of investments |
(380,260)
|
(453,672)
|
| Proceeds from sale of investments |
434,683
|
425,660
|
| Net cash used in investing activities |
(79,090)
|
(32,662)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Proceeds from issuance of common stock |
317
|
263
|
| Proceeds from the exercise of common stock options |
182
|
1,629
|
| Payment of withholding taxes related to stock-based compensation to employees |
(4,840)
|
(5,313)
|
| Net cash used in financing activities |
(4,341)
|
(3,421)
|
| (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |
(43,097)
|
44,538
|
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD |
97,513
|
45,418
|
| CASH AND CASH EQUIVALENTS, END OF PERIOD |
54,416
|
$ 89,956
|
| Earnout liability recorded for Adesis acquisition |
$ 1,510
|
|