|
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 |
$ 10,461 |
$ 4,790 |
$ 14,505 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Stock-based compensation |
2,173 |
4,126 |
5,707 |
| Impairment of goodwill and intangibles |
|
11,246 |
11,497 |
| Impairment of investment |
|
591 |
|
| Excess tax benefits related to share-based payments |
(22) |
(52) |
(707) |
| Depreciation and amortization |
12,899 |
12,157 |
11,559 |
| Deferred income taxes |
(5,770) |
(5,787) |
(8,293) |
| Amortization of deferred loan costs |
66 |
120 |
708 |
| Write-off of deferred loan costs |
|
27 |
1,509 |
| Expense related to issuance of warrants |
|
|
311 |
| Loss on disposal of property and equipment |
|
|
313 |
| Loss on investment in equity method investment |
|
2,013 |
2,866 |
| Changes in operating assets and liabilities |
|
|
|
| Accounts receivable, net |
(29,490) |
8,079 |
(9,093) |
| Inventories |
(4,350) |
(4,404) |
(10,334) |
| Prepaid expenses and other current assets |
(421) |
7,335 |
(7,600) |
| Other assets |
160 |
|
(11) |
| Accounts payable |
33,373 |
(3,838) |
3,044 |
| Income taxes payable |
13 |
2,787 |
(656) |
| Accrued liabilities |
4,616 |
(1,557) |
(262) |
| Accrued wages and wage related expenses |
1,709 |
(1,872) |
681 |
| Deferred revenue |
21 |
(564) |
403 |
| Sales returns liability |
813 |
1,167 |
1,299 |
| Net cash provided by operating activities |
26,251 |
36,364 |
17,446 |
| Cash flows from investing activities |
|
|
|
| Deposits on and purchase of intangible assets |
|
(500) |
(72) |
| Purchase of property and equipment |
(4,430) |
(2,588) |
(2,764) |
| Net cash used in investing activities |
(4,430) |
(3,088) |
(2,836) |
| Cash flows from financing activities |
|
|
|
| Payment of debt issuance costs |
|
(43) |
(238) |
| Purchase of treasury stock |
(9,579) |
(9,997) |
|
| Proceeds from issuance of term note |
|
|
24,000 |
| Proceeds from revolving credit facilities |
56,075 |
69,291 |
26,238 |
| Payments on term note |
|
(24,000) |
(45,000) |
| Payments on revolving credit facilities |
(73,618) |
(73,921) |
(27,396) |
| Proceeds from exercise of warrants and options |
265 |
270 |
895 |
| Excess tax benefits related to share-based payments |
22 |
52 |
707 |
| Net cash used in financing activities |
(26,835) |
(38,348) |
(20,794) |
| Effect of foreign currency exchange rates on cash and cash equivalents |
(556) |
(74) |
(72) |
| Net decrease in cash and cash equivalents |
(5,570) |
(5,146) |
(6,256) |
| Cash and cash equivalents at beginning of the period |
15,031 |
20,177 |
26,433 |
| Cash and cash equivalents at end of the period |
9,461 |
15,031 |
20,177 |
| Supplemental disclosure of cash flow information |
|
|
|
| Cash paid during the period for interest |
97 |
461 |
4,477 |
| Cash paid during the period for taxes |
12,370 |
6,515 |
18,536 |
| Supplemental schedule of noncash investing and financing activities |
|
|
|
| Purchase of fixed assets |
975 |
|
|
| Reclassification of note receivable to other asset |
|
218 |
|
| Issued shares of common stock with a fair value |
|
500 |
|
| Purchase of patent or intangible assets |
|
2,275 |
|
| Consideration for acquisition of patent |
|
1,946 |
|
| Consideration for acquisition of patent recorded within accrued liabilities |
|
1 |
|
| Amount Financed to purchase of patent through accrued liabilities |
|
329 |
|
| Foreclosure on real property |
|
|
250 |
| Foreclosure on private company stock and warrants |
|
|
$ 516 |