Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net income (loss) $ (4,686) $ 19,050
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for losses on accounts receivable 7,072 760
Depreciation and amortization 13,819 8,396
Gain on disposal of property and equipment (6) (31)
Warranty reserve 5,708 2,312
Share-based compensation 4,975 5,003
Changes in operating assets and liabilities:    
Accounts receivable (8,898) 7,594
Inventories 6,092 352
Prepaid expenses and other assets 677 (1,793)
Accounts payable (796) (4,686)
Accrued liabilities (10,504) (4,024)
Deferred revenue (8,888) 123
Deferred income tax 5,749 (63)
Net cash provided by operating activities 10,314 32,993
Investing activities:    
Acquisition of businesses, net of cash acquired (147,436) (6,150)
Purchase of property and equipment (1,464) (2,103)
Purchase of intangible assets 0 (241)
Sale of short-term investments 34,019 0
Net cash used in investing activities (114,881) (8,494)
Financing activities:    
Proceeds from stock option exercises and Employee Stock Purchase Program purchases 2,073 2,207
Repurchase of common stock (2,268) (16,754)
Taxes paid related to net share settlement of equity awards (3,136) (2,575)
Contingent consideration (2,500) (1,284)
Proceeds from borrowings 10,000 16,000
Deferred debt issuance costs (38) 0
Payments on borrowings (40,000) (6,000)
Net cash used in financing activities (35,869) (8,406)
Exchange rate changes effect on cash and cash equivalents 7,188 (2,278)
Net increase (decrease) in cash and cash equivalents (133,248) 13,815
Cash and cash equivalents, beginning of period 213,551 82,469
Cash and cash equivalents, end of period 80,303 96,284
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,102 10
Cash paid for income taxes 3,056 7,755
Non-cash investing activities:    
Property and equipment included in accounts payable 297 64
Inventory transferred to property and equipment $ 773 $ 362