XML 44 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income including noncontrolling interests $ 11,612 $ 5,325 $ 22,621 $ 6,704
Adjustments to reconcile net income to net cash provided by (used in) operating activities-        
Amortization of identifiable intangible assets 1,739 2,411 5,408 6,557
Depreciation expense 2,866 2,921 8,511 8,924
Bad debt expense (60) (18) (378) 2,468
Deferred tax expense (benefit) 692 641 1,168 (204)
Amortization of debt financing costs 65 57 180 172
Gain on sale of assets (117) (99) (367) (554)
Changes in the fair value of contingent earn-out obligations (750) 38 (696) 105
Stock-based compensation expense 523 462 3,243 2,106
(Increase) decrease in-        
Receivables, net 23,944 16,019 (6,976) (3,887)
Inventories 315 557 302 925
Prepaid expenses and other current assets (122) 158 (11) 737
Costs and estimated earnings in excess of billings (886) 558 (3,996) (2,681)
Other noncurrent assets (186) (593) 63 (2,535)
Increase (decrease) in-        
Accounts payable and accrued liabilities 671 (9,178) 5,413 (14,878)
Billings in excess of costs and estimated earnings (13,517) (2,888) (11,248) (1,240)
Other long-term liabilities 644 84 545 713
Net cash provided by operating activities 27,433 16,455 23,782 3,432
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of property and equipment (5,234) (2,817) (12,471) (9,405)
Proceeds from sales of property and equipment 64 205 566 967
Proceeds from businesses sold   43 43 121
Cash paid for acquisitions, earn-outs and intangible assets, net of cash acquired   (428)   (12,656)
Net cash used in investing activities (5,170) (2,997) (11,862) (20,973)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Net borrowings (payments) on revolving line of credit 5,000 (4,000) 5,000 14,000
Payments on other long-term debt (3,400) (300) (5,400) (4,400)
Debt financing costs     (552)  
Payments of dividends to shareholders (2,052) (1,859) (5,818) (5,641)
Share repurchase program (1,177) (512) (1,832) (1,424)
Shares received in lieu of tax withholding 8 8 (614) (535)
Excess tax benefit of stock-based compensation (17) 25 226 (101)
Proceeds from exercise of options 1,334 34 1,618 70
Net cash provided by (used in) financing activities (304) (6,604) (7,372) 1,969
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 21,959 6,854 4,548 (15,572)
CASH AND CASH EQUIVALENTS, beginning of period 23,346 28,811 40,757 51,237
CASH AND CASH EQUIVALENTS, end of period $ 45,305 $ 35,665 $ 45,305 $ 35,665