XML 23 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 27,833,000 $ 29,048,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and impairment 5,016,000 4,623,000
Deferred income taxes (120,000) (134,000)
Reserve for uncertain tax positions 210,000 150,000
Non-cash share-based compensation expense 275,000 747,000
Gain on insurance recoveries for damaged property 0 (260,000)
Loss on disposal of property and equipment 1,000 0
Net changes in assets and liabilities:    
Trade accounts receivable (2,188,000) (5,830,000)
Prepaid expenses and other current assets 231,000 (478,000)
Insurance recoverable 0 (913,000)
Deferred contract costs, net 318,000 (339,000)
Operating lease assets and liabilities, net 17,000 (5,000)
Accounts payable (207,000) (681,000)
Accrued expenses, wages, bonuses (202,000) 473,000
Income taxes receivable and payable 1,604,000 (2,974,000)
Deferred revenue 1,482,000 992,000
Net cash provided by operating activities 34,270,000 24,419,000
Cash flows from investing activities:    
Purchases of property and equipment (3,797,000) (2,435,000)
Insurance proceeds for damaged property 0 260,000
Acquisition consideration (3,000,000) 0
Net cash used in investing activities (6,797,000) (2,175,000)
Cash flows from financing activities:    
Payments on notes payable (3,049,000) (2,575,000)
Payment of debt issuance costs 0 (36,000)
Payments on finance lease obligations (369,000) (187,000)
Proceeds from the exercise of share-based awards 304,000 1,592,000
Payment of employee payroll tax withholdings on share-based awards exercised (461,000) (1,859,000)
Payment of dividends on common stock (6,105,000) (10,517,000)
Net cash used in financing activities (9,680,000) (13,582,000)
Effect of exchange rate changes on cash (1,000) (324,000)
Change in cash and cash equivalents 17,792,000 8,338,000
Cash and cash equivalents at beginning of period 34,690,000 13,517,000
Cash and cash equivalents at end of period 52,482,000 21,855,000
Supplemental disclosure of cash paid for:    
Interest, net of capitalized amounts 1,186,000 1,315,000
Income taxes 6,601,000 5,034,000
Supplemental disclosure of non-cash investing and financing activities:    
Finance lease obligations originated for property and equipment 0 771,000
Stock tendered to the Company for cashless exercise of stock options in connection with equity incentive plans 749,000 5,560,000
Deferred acquisition consideration $ 1,950,000 $ 0