XML 46 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Cash Flows from Operating Activities:      
Net income $ 11,383 $ 7,608 $ 12,469
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 2,118 1,659 521
Loss on disposal of equipment 0 0 37
Stock-based compensation 2,953 2,169 1,323
Amortization of deferred financing fees 159 0 0
Amortization of debt discount 122 0 0
Impairment of inventory 0 3,923 0
Deferred income tax 2,172 (892) (2,723)
Change in fair value of derivative liabilities 0 0 6,741
Changes in operating assets and liabilities:      
Decrease/(increase) in receivables (2,044) (3,653) 609
Decrease/(increase) in inventory 1,646 (3,356) (9,228)
Increase in prepaid expenses and deposits (2,318) (1,065) (762)
Increase in long-term assets (1,045) (1,168) (310)
Increase/(decrease) in accounts payable (2,384) 1,593 2,936
Increase/(decrease) in accrued expenses (537) 3,403 7,581
Increase/(decrease) in other long-term liabilities (120) 441 195
Net Cash Provided by Operating Activities 12,105 10,662 19,389
Cash Flows from Investing Activities:      
Redemption of marketable securities 0 0 350
Purchase of equipment (1,898) (5,080) (2,194)
Purchase of intangible assets (350) 0 (52)
Net Cash Used in Investing Activities (2,248) (5,080) (1,896)
Cash Flows from Financing Activities:      
Proceeds from term loan 45,825 0 0
Payment of deferred financing fees (1,511) 0 0
Net payments on revolving line of credit and accrued interest 0 0 (434)
Excess tax benefits from stock-based compensation 655 1,406 388
Repurchase of company stock (46,171) (7,123) (976)
Payment on term loan (16,175) 0 0
Exercise of options and warrants 1,573 1,694 1,768
Net Cash Provided by (Used in) Financing Activities (15,804) (4,023) 746
Foreign Currency Effect on cash 35 92 38
Increase (Decrease) in cash and cash equivalents (5,912) 1,651 18,277
Cash and Cash Equivalents - beginning of period 26,299 24,648 6,371
Cash and Cash Equivalents - end of period 20,387 26,299 24,648
Non Cash Investing and Financing Activities:      
Exercise of warrant liabilities 0 0 17,604
Increase in property and equipment/other long-term liabilities 1,386 359 0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash paid for interest 2,758 3 0
Cash paid for income taxes 4,879 6,090 3,701
Common stock shares issued upon cashless warrant exercises 2,698 3,793 10,297
Total cashless exercise price of warrants $ 1,615 $ 2,147 $ 5,995
Gross warrants underlying cashless exercises 3,409 4,564 12,563