XML 48 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 22,942,482 $ 18,363,047 $ 13,945,993
Adjustments to reconcile net income to net cash provided by operating activities, excluding the effects of acquisition:      
Amortization of acquisition-related intangible assets 323,076 323,076 4,130,256
Depreciation & amortization 4,575,412 4,353,748 4,035,410
Stock-based compensation expense 4,509,727 4,029,022 3,008,567
Deferred income taxes 788,258 (187,132) 3,493,455
Nonrecurring gain on acquisition of business, net of tax     (2,184,255)
(Gain) loss on disposal of property and equipment 37,857 12,690 (2,872)
Changes in operating assets and liabilities:      
(Increase) in trade accounts receivable, net (7,246,782) (3,095,308) (1,467,177)
(Increase) decrease in prepaid expenses & other current assets 1,308,384 (1,664,493) 1,746,076
(Increase) in other assets (358) (1,122) (96,977)
Increase (decrease) in accounts payable 3,439,367 (1,273,509) 1,080,857
Increase (decrease) in accrued expenses (92,038) 357,945 3,565,705
Increase (decrease) in other current liabilities (265,026) 29,742 (447,608)
Increase (decrease) in other long-term liabilities 282,254 742,975 (286,707)
Net cash provided by operating activities 30,602,613 21,990,681 30,520,723
Cash flows from investing activities:      
Purchases of property and equipment (6,136,666) (4,102,176) (3,355,011)
Proceeds from sale of property and equipment 7,711 3,813 18,403
Capitalized internal use software development costs (450,770) (469,602) (509,986)
Acquisition of business     (1,500,000)
Net cash used in investing activities (6,579,725) (4,567,965) (5,346,594)
Cash flows from financing activities:      
Cash dividends on common stock   (35,501,457) (19,149,970)
Cash restricted for payment of dividend (16,230,966)    
Proceeds from employee common stock purchases 651,600 679,277 465,086
Proceeds from exercise of employee stock options   72,769 206,223
Tax deductions related to stock-based compensation 1,509,039 381,315 1,564,480
Net cash used in financing activities (14,070,327) (34,368,096) (16,914,181)
Net increase (decrease) in cash and cash equivalents 9,952,561 (16,945,380) 8,259,948
Cash and cash equivalents, beginning of period 51,686,503 68,631,883 60,371,935
Cash and cash equivalents, end of period 61,639,064 51,686,503 68,631,883
Other cash flow information:      
Income taxes paid $ 11,726,661 $ 12,189,184 $ 1,359,193