XML 17 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 8,539,000 $ 9,232,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and impairment 1,316,000 1,984,000
Deferred income taxes (498,000) 140,000
Reserve for uncertain tax positions 100,000 67,000
Non-cash share-based compensation expense 285,000 (54,000)
Net changes in assets and liabilities:    
Trade accounts receivable (2,164,000) (209,000)
Prepaid expenses and other current assets (989,000) (306,000)
Deferred contract costs, net 274,000 (278,000)
Operating lease assets and liabilities, net (4,000) 39,000
Accounts payable (485,000) (264,000)
Accrued expenses, wages and bonuses (777,000) 142,000
Income taxes receivable and payable 3,215,000 2,130,000
Deferred revenue (522,000) 1,785,000
Net cash provided by operating activities 8,290,000 14,408,000
Cash flows from investing activities:    
Purchases of property and equipment (2,542,000) (1,238,000)
Acquisition consideration   (3,000,000)
Net cash used in investing activities (2,542,000) (4,238,000)
Cash flows from financing activities:    
Payments on notes payable (1,060,000) (1,009,000)
Payments on finance lease obligations (125,000) (122,000)
Proceeds from the exercise of share-based awards   162,000
Payment of employee payroll tax withholdings on share-based awards exercised   (460,000)
Repurchase of shares for treasury (6,679,000)  
Payments of deferred acquisition consideration (1,950,000)  
Payment of dividends on common stock (3,044,000)  
Net cash used in financing activities (12,858,000) (1,429,000)
Effect of exchange rate changes on cash and cash equivalents 39,000 23,000
Change in cash and cash equivalents (7,071,000) 8,764,000
Cash and cash equivalents at beginning of period 54,361,000 34,690,000
Cash and cash equivalents at end of period 47,290,000 43,454,000
Supplemental disclosure of cash paid for:    
Interest expense, net of capitalized amounts 352,000 403,000
Income taxes $ 75,000 41,000
Supplemental disclosure of non-cash investing and financing activities:    
Stock tendered to the Company for cashless exercise of stock options in connection with equity incentive plans   749,000
Deferred acquisition consideration   $ 1,950,000