Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities:    
Net income $ 6,251 $ 3,442
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,302 3,133
Provision for losses on accounts receivable 465 372
Warranty reserve 390 656
Loss on disposal of property and equipment   6
Share-based compensation 1,609 1,360
Excess tax benefit on the exercise of stock options (2,194) (81)
Changes in operating assets and liabilities:    
Accounts receivable 708 (787)
Inventories 1,633 64
Prepaid expenses and other assets (1,936) 734
Accounts payable (2,710) (3,302)
Deferred income tax 1,844 (304)
Accrued liabilities and deferred revenue (3,678) (6,228)
Net cash provided by (used in) operating activities 5,684 (935)
Investing activities:    
Acquisition of businesses, net of cash acquired (4,925) (18,600)
Purchases of property and equipment (806) (687)
Purchase of intangible assets   (669)
Net cash used in investing activities (5,766) (19,956)
Financing activities:    
Proceeds from stock option exercises and ESPP purchases 35 2,115
Excess tax benefit on the exercise of stock options 2,194 81
Proceeds from short-term borrowings   22,000
Payments on borrowings (5,079) (2,142)
Net cash provided by financing activities 3,415 22,054
Exchange rate changes effect on cash and cash equivalents 150 134
Net increase (decrease) in cash and cash equivalents 3,483 1,297
Cash and cash equivalents, beginning of period 56,106 23,057
Cash and cash equivalents, end of period 59,589 24,354
Supplemental disclosure of cash flow information:    
Cash paid for interest 186 613
Cash paid for income taxes 574 4,214
Non-cash investing activities:    
Property and equipment included in accounts payable 265 261
Inventory transferred to property and equipment $ 398