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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 12,870 $ 15,723
Restricted cash 161 47
Contract receivables, less allowances of $1,071 in 2017 and $799 in 2016:    
Billed 30,081 29,186
Unbilled 1,689 2,278
Receivables Net 31,770 31,464
Employee advances and miscellaneous receivables, less allowances of $351 in 2017 and $500 in 2016 2,097 2,184
Total receivables 33,867 33,648
Prepaid expenses and other current assets 4,563 3,363
Total current assets 51,461 52,781
Property and equipment 68,256 63,325
Less accumulated depreciation and amortization (53,880) (51,089)
Property and equipment, net 14,376 12,236
Goodwill 22,803 13,823
Intangible assets, less accumulated amortization of $37,977 in 2017 and $36,128 in 2016 9,560 10,998
Noncurrent portion of unbilled receivables 815 854
Deferred income taxes 2,228 2,269
Other assets 325 513
Total assets 101,568 93,474
Current liabilities:    
Accounts payable and accrued expenses 8,917 7,299
Accrued payroll and related expenses 12,688 13,868
Refund liabilities 7,615 7,900
Deferred revenue 1,682 1,330
Current portion of debt (Note E) 0 3,600
Business acquisition obligations 2,079 2,078
Total current liabilities 32,981 36,075
Long-term debt (Note E) 13,600 0
Noncurrent refund liabilities 714 804
Other long-term liabilities 2,393 4,205
Total liabilities 49,688 41,084
Commitments and contingencies (Note G)
Shareholders’ equity (Note B):    
Common stock, no par value; $.01 stated value per share. Authorized 50,000,000 shares; 22,394,990 shares issued and outstanding at June 30, 2017 and 21,845,920 shares issued and outstanding at December 31, 2016 224 218
Additional paid-in capital 577,754 575,118
Accumulated deficit (526,091) (523,233)
Accumulated other comprehensive income (loss) (7) 287
Total shareholders’ equity 51,880 52,390
Total liabilities and shareholders’ equity $ 101,568 $ 93,474