XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - Unaudited - USD ($)
6 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities    
NET INCOME $ 17,168,000 $ 14,443,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,540,000 10,410,000
Loss on write down or disposal of property, capitalized software or investment 450,000 8,000
Stock compensation expense 1,529,000 1,128,000
Provision for doubtful accounts 887,000 1,080,000
Deferred income tax (559,000) (427,000)
Changes in operating assets and liabilities    
Accounts receivable (4,042,000) (1,779,000)
Customer deposits (6,567,000) (5,540,000)
Prepaid taxes and expenses (190,000) (1,268,000)
Other assets (274,000) (213,000)
Accounts and taxes payable (1,140,000) (552,000)
Accrued liabilities 12,795,000 3,257,000
Net cash provided by operating activities 30,597,000 20,547,000
Cash Flows from Investing Activities    
Investment in private equity 0 (250,000)
Purchase of property and equipment (11,428,000) (10,843,000)
Net cash (used in) investing activities (11,428,000) (11,093,000)
Cash Flows from Financing Activities    
Purchase of treasury stock (11,187,000) (4,199,000)
Tax effect of stock option exercises 0 869,000
Exercise of common stock options 1,308,000 1,758,000
Exercise of employee stock purchase options 232,000 201,000
Net cash (used in) financing activities (9,647,000) (1,371,000)
Increase in cash and cash equivalents 9,522,000 8,083,000
Cash and cash equivalents at beginning of period 28,611,000 32,779,000
Cash and cash equivalents at end of period 38,133,000 40,862,000
Supplemental Cash Flow Information:    
Income taxes paid 5,197,000 9,502,000
Purchase of software license under finance agreement $ 0 $ 3,492,000