XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows - (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
NET INCOME $ 19,805,000 $ 16,691,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,364,000 6,319,000
Loss on write down or disposal of property, capitalized software or investment 13,000 2,000
Stock compensation expense 1,312,000 1,379,000
Provision for doubtful accounts 436,000 452,000
Deferred income tax (328,000) (344,000)
Changes in operating assets and liabilities    
Accounts receivable (3,578,000) 1,044,000
Customer deposits (4,733,000) (4,640,000)
Prepaid taxes and expenses (1,041,000) 4,307,000
Other assets 655,000 (30,000)
Accounts and taxes payable 2,383,000 4,197,000
Accrued liabilities 14,734,000 565,000
Operating lease liabilities 604,000 79,000
Net cash provided by operating activities 36,626,000 30,021,000
Cash Flows from Investing Activities    
Purchase of property and equipment (5,049,000) (8,380,000)
Net cash used in investing activities (5,049,000) (8,380,000)
Cash Flows from Financing Activities    
Purchase of treasury stock (17,787,000) (26,688,000)
Proceeds from exercise of common stock options 1,474,000 1,851,000
Net cash used in financing activities (16,313,000) (24,837,000)
Increase/(decrease) in cash and cash equivalents 15,264,000 (3,196,000)
Cash and cash equivalents at beginning of period 71,329,000 97,504,000
Cash and cash equivalents at end of period 86,593,000 94,308,000
Supplemental Cash Flow Information:    
Income taxes paid 333,000 226,000
Purchase of software license under finance agreement $ 2,728,000 $ 5,273,000