Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

 v2.3.0.11
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
OPERATING ACTIVITIES:    
Net income (loss) $ 3,851 $ (2,118)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,126 2,759
Amortization of customer inducements 2,413 785
Deferred rent and lease incentive (110) 196
Provision for doubtful accounts   2,668
Unrealized gain on investments (4)  
Deferred income taxes 2,117 158
Stock-based compensation 1,645 524
Interest expense 415 128
Changes in operating assets and liabilities:    
Fees receivable 442 (226)
Prepaid expenses and other current assets (422) (2,468)
Other non-current assets   20
Customer inducements (1,000) (11,300)
Accrued expenses 119 2,537
Accounts payable 51 249
Deferred revenue (130) 173
Other non-current liabilities 132 67
Net cash provided by (used in) operating activities 12,645 (5,848)
INVESTING ACTIVITIES:    
Purchase of property and equipment (2,917) (2,714)
Capitalization of internally developed software (817) (640)
Repayment of notes payable (162)  
Proceeds from repayment of notes receivable   128
Increase in notes receivable   (82)
Proceeds from investments 17 21
Acquisition of businesses, net of cash acquired   (300)
Net cash used in investing activities (3,879) (3,587)
FINANCING ACTIVITIES:    
Proceeds from issuance of preferred stock   1,505
Proceeds from exercise of stock options 2,260 1,250
Purchase of treasury stock (94) (2,015)
Net cash provided by financing activities 2,166 740
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 10,932 (8,695)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 67,668 31,525
CASH AND CASH EQUIVALENTS, END OF PERIOD 78,600 22,830
Supplemental disclosure of cash flow information - cash paid during the period for:    
Income taxes 391 57
Supplemental disclosure of non-cash investing and financing activities:    
Leasehold improvements funded by lease incentive   119
Customer inducement payable   17,568
Issuance of warrant for customer inducement   2,946
Note payable assumed in a business acquisition   $ 300