XML 18 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 6,521 $ 5,506
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,106 968
Deferred income taxes 415 775
Reserve for uncertain tax positions 32 (119)
Non-cash share-based compensation expense 450 536
Net changes in assets and liabilities:    
Trade accounts receivable (2,647) (4,167)
Unbilled revenue (374) 33
Prepaid expenses (540) (254)
Accounts payable 207 469
Accrued expenses, wages, bonuses and profit sharing (1,606) 58
Income taxes receivable and payable 2,890 (2,451)
Deferred revenue 1,689 3,013
Net cash provided by operating activities 8,143 4,367
Cash flows from investing activities:    
Purchases of property and equipment (1,425) (1,084)
Net cash used in investing activities (1,425) (1,084)
Cash flows from financing activities:    
Payments on notes payable (816) (594)
Payments on capital lease obligations (27) (25)
Cash paid for non-controlling interest (2,000)
Proceeds from exercise of stock options 547
Payment of payroll tax withholdings on net exercise of share-based compensation (105) (147)
Payment of dividends on common stock (4,213) (18,440)
Net cash used in financing activities (5,161) (20,659)
Effect of exchange rate changes on cash 86 597
Change in cash and cash equivalents 1,643 (16,779)
Cash and cash equivalents at beginning of period 33,021 42,145
Cash and cash equivalents at end of period 34,664 25,366
Supplemental disclosure of cash paid for:    
Interest, net of capitalized amounts 24 83
Income taxes 122 4,361
Supplemental disclosure of non-cash investing and financing activities:    
Capital lease obligations originated for property and equipment 64
Stock tendered to the Company for cashless exercise of stock options in connection with equity incentive plans $ 1,612