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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 15,122 $ 25,735
Restricted cash 48 53
Contract receivables, less allowances of $930 in 2015 and $2,243 in 2014:    
Billed 26,576 32,373
Unbilled 1,967 2,809
Contract receivables, net 28,543 35,182
Employee advances and miscellaneous receivables, less allowances of $681 in 2015 and $692 in 2014 1,740 1,993
Total receivables 30,283 37,175
Prepaid expenses and other current assets 2,323 3,416
Deferred income taxes 0 5
Total current assets 47,776 66,384
Property and equipment:    
Computer and other equipment 29,671 28,864
Furniture and fixtures 2,842 2,926
Leasehold improvements 3,446 3,450
Software 23,788 20,934
Property and equipment, gross 59,747 56,174
Less accumulated depreciation and amortization (48,167) (43,954)
Property and equipment, net 11,580 12,220
Goodwill 11,810 13,036
Intangible assets, less accumulated amortization of $35,708 in 2015 and $33,973 in 2014 6,684 9,439
Unbilled receivables 656 1,196
Deferred loan costs, net of accumulated amortization 80 0
Deferred income taxes 1,361 36
Other assets 444 471
Total assets 80,391 102,782
Current liabilities:    
Accounts payable and accrued expenses 5,966 7,397
Accrued payroll and related expenses 11,278 15,415
Refund liabilities 7,887 5,393
Deferred revenue 965 2,173
Business acquisition obligations 39 0
Total current liabilities 26,135 30,378
Refund liabilities 752 857
Other long-term liabilities 1,089 561
Total liabilities $ 27,976 $ 31,796
Commitments and contingencies
Shareholders’ equity:    
Common stock, no par value; $.01 stated value per share. Authorized 50,000,000 shares; 22,681,656 shares issued and outstanding at December 31, 2015 and 26,762,861 shares issued and outstanding at December 31, 2014 $ 227 $ 268
Additional paid-in capital 575,532 590,067
Accumulated deficit (524,138) (520,912)
Accumulated other comprehensive income 794 1,563
Total shareholders’ equity 52,415 70,986
Total liabilities and shareholders’ equity $ 80,391 $ 102,782