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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities  
Net income$ 1,759$ 739
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization1,551800
Gain on sale of investment0(1,700)
Stock-based compensation expense2,863905
Contribution of stock to fund a charitable trust established by the Company0238
Deferred taxes947449
Changes in operating assets and liabilities, net of the effects of the acquisition:  
Accounts receivable5571,393
Prepaid expenses and other current assets359(236)
Deferred project costs and other assets(563)74
Accounts payable(51)(23)
Accrued liabilities183394
Deferred revenues3,741(200)
Net cash provided by operating activities11,3462,833
Cash flows from investing activities  
Business acquisition, net of cash acquired(7,346)0
Addition of capitalized software development costs(595)(521)
Purchase of property and equipment(761)(482)
Purchase of available-for-sale short-term investments(15,000)0
Maturities of available-for-sale short-term investments7,8950
Proceeds from sale of investment01,700
Restricted cash0350
Net cash (used in) provided by investing activities(15,807)1,047
Cash flows from financing activities  
Proceeds from public offering15,40553,010
Public offering costs(408)(1,871)
Redemption of preferred stock0(36,151)
Issuance of common and restricted stock039
Repurchases of restricted stock0(273)
Repayment of notes payable0(350)
Collection of notes receivable from stockholders154
Proceeds from exercise of common stock options12924
Net cash provided by financing activities15,14114,432
Net increase in cash and cash equivalents10,68018,312
Cash and cash equivalents at beginning of period17,49417,132
Cash and cash equivalents at end of period28,17435,444
Supplemental disclosure of cash flow information  
Cash paid for interest02
Supplemental disclosure of non-cash flow information  
Dividends on redeemable preferred stock$ 0$ 2,079