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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 8,774 $ 4,182
Adjustments required to reconcile net income to net cash provided by operating activities:    
Depreciation 253 258
Equity-based compensation 2,125 1,124
Gain from sale of property and equipment (10)  
Gain on available-for-sale marketable securities (7) (14)
Amortization of premiums on available-for-sale marketable securities 1,045 718
Accrued interest on short term bank deposits (457) (322)
Unrealized foreign exchange loss (gain) 44 (51)
Changes in operating assets and liabilities:    
Decrease in trade receivables 2,284 449
Decrease in prepaid expenses and other accounts receivable 1,184 1,268
Increase in deferred tax, net (1,693) (176)
Increase in trade payables 226 131
Increase in deferred revenues 3,030 95
Decrease in accrued expenses and other payables (1,206) (1,706)
Excess tax benefit from stock-based compensation (1,779)  
Decrease in accrued severance pay, net (11) (6)
Net cash provided by operating activities 13,802 5,950
Cash flows from investing activities:    
Purchase of property and equipment (213) (456)
Proceeds from sale of property and equipment 10  
Investment in bank deposits (22,500) (19,432)
Proceeds from bank deposits 5,065 32,625
Investment in available-for-sale marketable securities (27,600) (35,448)
Proceeds from maturity of available-for-sale marketable securities 16,477 13,339
Proceeds from sale of available-for-sale marketable securities 3,998 10,189
Net cash provided by (used in) investing activities (24,763) 817
Cash flows from financing activities:    
Purchase of Treasury Stock   (1,207)
Proceeds from issuance of Common Stock upon exercise of stock options 6,046 4,028
Proceeds from issuance of Common Stock under employee stock purchase plan 590 525
Proceeds from issuance of Treasury Stock upon exercise of stock options   52
Excess tax benefit from stock-based compensation 1,779  
Net cash provided by financing activities 8,415 3,398
Effect of exchange rate movements on cash (173) (41)
Increase (decrease) in cash and cash equivalents (2,719) 10,124
Cash and cash equivalents at the beginning of the period 17,098 12,104
Cash and cash equivalents at the end of the period $ 14,379 $ 22,228