XML 23 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income (loss) $ (7,493) $ (8,659) $ 18,569
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 11,232 10,372 9,401
Stock based compensation 13,031 11,520 9,329
Gain from sale of available-for-sale marketable securities (18) (1,771) (2,438)
Amortization of premiums, accretion of discounts and accrued interest on available-for-sale marketable securities, net 1,546 1,949 3,208
Accrued interest on bank deposits 226 1,179 (1,998)
Increase (decrease) in accrued severance pay, net (210) 401 125
Decrease (increase) in trade receivables, net 3,390 7,003 (773)
Changes in deferred income taxes, net 91 (2,687) 215
Decrease (increase) in other current assets and prepaid expenses (7,969) 883 (103)
Decrease (increase) in inventories (1,658) (792) 522
Decrease in trade payables (734) (3,284) (562)
Increase in deferred revenues (short-term and long-term) 28,781 12,964 3,849
Increase (decrease) in other payables and accrued expenses and other long-term liabilities (8,753) 8,855 424
Excess tax deficiency (benefit) from stock-based compensation stock options 547 (632)
Net cash provided by operating activities 31,462 38,480 39,136
Cash flows from investing activities:      
Purchase of property and equipment (7,210) (9,404) (13,774)
Investment in other long-term assets (6) (53) (100)
Proceeds from (investment in) bank deposits, net (37,200) 31,295 (33,824)
Purchase of available-for-sale marketable securities (24,595) (16,219) (13,442)
Proceeds from maturity of available-for-sale marketable securities 20,075 17,205 26,530
Proceeds from redemption of available-for-sale marketable securities 863 5,535 27,757
Payment for the acquisition of subsidiary, net of cash acquired (8,269)
Net cash provided by (used in) investing activities (56,342) 28,359 (6,853)
Cash flows from financing activities:      
Proceeds from exercise of stock options 10,891 1,583 8,746
Excess tax (deficiency) benefit from stock-based compensation (547) 632
Repurchase of ordinary shares (413) (21,980) (52,896)
Net cash provided by (used in) financing activities 10,478 (20,944) (43,518)
Increase (decrease) in cash and cash equivalents (14,402) 45,895 (11,235)
Cash and cash equivalents at the beginning of the year 79,639 33,744 44,979
Cash and cash equivalents at the end of the year 65,237 79,639 33,744
Supplemental disclosure of cash flow information:      
Cash paid during the year for income taxes $ 14,352 $ 1,730 $ 1,853