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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 11,221 $ 6,062
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,363 1,615
Deferred income taxes 899 582
Stock-based compensation expense 1,724 1,672
Provision for excess and obsolete inventory 802 607
Changes in operating assets & liabilities:    
Accounts receivable 19,223 7,642
Inventories 1,924 (6,171)
Prepaid expenses and other current assets (4,435) (1,174)
Accounts payable and other current liabilities 1,689 (16,911)
Deferred revenue 4,859 (2,098)
Income taxes 53 32
Other assets and liabilities (645) (4,207)
Net cash provided by (used in) operating activities 39,677 (12,349)
Cash flows from investing activities    
Expenditures for property, plant and equipment and capitalized software (1,290) (4,255)
Net cash used in investing activities (1,290) (4,255)
Cash flows from financing activities    
Net settlement on restricted stock grants (1,162) (281)
Repurchase of common stock (7,501)  
Proceeds from Employee Stock Purchase Plan 19  
Proceeds from exercise of stock options 4,499 1,828
Net cash (used in) provided by financing activities (4,145) 1,547
Effect of exchange rate changes on cash and cash equivalents 640 123
Net increase (decrease) in cash, cash equivalents and restricted cash 34,882 (14,934)
Cash, cash equivalents and restricted cash at beginning of period 146,534 184,902
Cash, cash equivalents and restricted cash at end of period $ 181,416 $ 169,968