XML 17 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 2,270 $ 5,284
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,027 3,962
Deferred income taxes 1,264 2,959
Amortization of debt issue costs 191 194
Amortization of syndication contracts 89 86
Payments on syndication contracts (94) (122)
Non-cash stock-based compensation 946 867
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable 5,800 15,976
(Increase) decrease in prepaid expenses and other assets (378) (561)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (3,594) (3,840)
Net cash provided by operating activities 10,521 24,805
Cash flows from investing activities:    
Purchases of short-term investments (30,000)  
Purchases of property and equipment and intangibles (2,135) (2,972)
Net cash used in investing activities (32,135) (2,972)
Cash flows from financing activities:    
Proceeds from stock option exercises 400 900
Payments on long-term debt (938) (938)
Dividends paid (2,781) (2,191)
Payment of contingent consideration   (1,000)
Net cash used in financing activities (3,319) (3,229)
Net increase (decrease) in cash and cash equivalents (24,933) 18,604
Cash and cash equivalents:    
Beginning 47,924 31,260
Ending 22,991 49,864
Cash payments for:    
Interest 3,675 3,032
Income taxes $ 250 $ 587