XML 20 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 1,944,000 $ (17,444,000)
(Income) loss from discontinued operations (1,420,000) 659,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Goodwill, Impairment Loss 0 20,843,000
Depreciation and amortization 1,744,000 1,388,000
Provision for bad debts 140,000 308,000
Provision for obsolete inventory 1,361,000 8,629,000
Equity based compensation 400,000 231,000
Deferred income tax 1,052,000 (9,826,000)
Changes in operating assets and liabilities:    
Accounts receivable (796,000) 3,986,000
Inventories 431,000 (5,481,000)
Income tax refunds/payable (45,000) (227,000)
Other current assets (50,000) (680,000)
Other assets (183,000) (86,000)
Accounts payable 3,232,000 (1,631,000)
Accrued salaries and benefits (610,000) (778,000)
Accrued expenses (398,000) (70,000)
Customer deposits (423,000) (1,330,000)
Deferred service revenue 4,501,000 2,046,000
Other long-term liabilities 262,000 145,000
Net cash provided by (used in) operating activities-continuing operations 11,142,000 682,000
Net cash used in operating activities-discontinued operations (2,368,000) (614,000)
Net cash provided by (used in) operating activities 8,774,000 68,000
Cash flows from investing activities:    
Capital expenditures (1,539,000) (534,000)
Capitalization of software costs (1,622,000) (5,096,000)
Purchase of investments (250,000) 0
Maturity of investments 1,912,000 0
Escrow (1,147,000) 0
Proceeds from sale of business 4,000,000 0
Net cash provided by (used in) investing activities-continuing operations 1,354,000 (5,630,000)
Net cash (used in) investing activities-discontinued operations 0 (26,000)
Net cash provided by (used in) investing activities 1,354,000 (5,656,000)
Cash flows from financing activities:    
Net borrowings (payments) under line-of-credit agreements 0 3,000,000
Payments of long-term debt (971,000) (818,000)
Proceeds from the exercise of stock options 27,000 132,000
Net cash provided by (used in) financing activities-continuing operations (944,000) 2,314,000
Net cash used in financing activities-discontinued operations 0 0
Net cash provided by (used in) financing activities (944,000) 2,314,000
Effect of exchange rate changes on cash and cash equivalents (31,000) 181,000
Net increase (decrease) in cash and cash equivalents 9,153,000 (3,093,000)
Cash and cash equivalents at beginning of period 7,742,000 6,781,000
Cash and cash equivalents at end of period 16,895,000 3,688,000
Less cash and equivalents of discontinued operations at end of period 0 (5,000)
Cash and equivalents of continuing operations at end of period 16,895,000 3,683,000
Cash paid during the period for:    
Interest 42,000 115,000
Income taxes, net of (refunds) $ 45,000 $ 153,000