XML 16 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Cash flows from operating activities:    
Net income $ 8,456 $ 6,093
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,757 6,429
Stock-based compensation 194 216
Provision for inventory obsolescence 60 31
Gross profit from sale of lease pool equipment (928) (238)
Excess tax benefit from exercise of non-qualified stock options and restricted shares (350)  
Deferred tax provision (1,257) 1,195
Changes in non-current income taxes payable   170
Changes in working capital items, net of effects from business combination:    
Accounts receivable 4,357 (4,570)
Contracts receivable (632) 888
Inventories 165 (329)
Prepaid expenses and other current assets (422) (193)
Income taxes receivable and payable 532 (334)
Prepaid foreign income tax (236)  
Accounts payable, accrued expenses, other current liabilities and deferred revenue (832) 1,231
Net cash provided by operating activities 17,864 10,589
Cash flows from investing activities:    
Purchases of seismic equipment held for lease (23,812) (8,132)
Purchases of property and equipment (146) (54)
Sale of used lease pool equipment 2,332 335
Payment for earn-out provision   (155)
Net cash used in investing activities (21,626) (8,006)
Cash flows from financing activities:    
Net proceeds (payments) on line of credit 6,650 (1,900)
Payments on borrowings (1,465) (1,327)
Net proceeds from (purchases of) short-term investments   (101)
Proceeds from issuance of common stock upon exercise of options 96 343
Excess tax benefit from exercise of non-qualified stock options and restricted shares 350  
Net cash provided by (used in) financing activities 5,631 (2,985)
Effect of changes in foreign exchange rates on cash and cash equivalents 276 396
Net change in cash and cash equivalents 2,145 (6)
Cash and cash equivalents, beginning of period 15,287 14,647
Cash and cash equivalents, end of period 17,432 14,641
Supplemental cash flow information:    
Interest paid 167 306
Income taxes paid 3,821 1,313
Purchases of seismic equipment held for lease in accounts payable at end of period $ 2,000 $ 19,515