XML 21 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities:    
Net income $ 21,785 $ 16,594
Adjustments required to reconcile net income to net cash provided by operating activities:    
Depreciation expense 2,958 1,352
Bad debt expense (13) (18)
Stock-based compensation 18,047 15,592
Write-down of inventory 1,354 952
Excess tax benefit from stock-based awards (3,631) (383)
Deferred tax provision 9,777 10,803
Change in fair value of contingent consideration 186 307
Changes in assets and liabilities:    
Accounts receivable (3,807) (5,214)
Inventories (6,284) (6,855)
Prepaid expenses and other assets (2,029) 456
Accounts payable 1,906 (1,817)
Accrued expenses and other liabilities 3,157 (2,674)
Deferred revenue 330 (239)
Net cash provided by operating activities 43,736 28,856
Investing activities:    
Purchases of marketable securities (134,235) (99,002)
Proceeds from the sale and maturity of marketable securities 116,685 101,453
Purchase of other investment   (750)
Purchases of property and equipment (10,453) (3,419)
Net cash used for investing activities (28,003) (1,718)
Financing activities:    
Proceeds from the exercise of stock options 5,764 7,971
Excess tax benefit from stock-based awards 3,631 383
Taxes paid related to net share settlement of vesting of stock awards (19,608) (3,810)
Proceeds from the issuance of stock under employee stock purchase plan 769 451
Principal payments on capital lease obligation (83)  
Net cash (used for) provided by financing activities (9,527) 4,995
Effect of exchange rate changes on cash 272 (113)
Net increase in cash and cash equivalents 6,478 32,020
Cash and cash equivalents at beginning of period 48,231 22,401
Cash and cash equivalents at end of period 54,709 54,421
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 560 576
Cash paid for interest on capital lease obligation 89  
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment under capital lease obligation 16,784  
Property and equipment in accounts payable and accrued expenses $ 3,810 $ 396