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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 37,166 $ 30,195
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,063 16,403
Stock-based compensation expense 11,063 10,259
Unrealized gain on short term investments (2,246) (2,984)
Change in fair value of earn-out consideration 0 (4,060)
Unrealized foreign exchange loss/(gain) 1,643 (42)
Deferred income tax (benefit)/expense (3,118) 3,607
Others, net 27 (67)
Change in operating assets and liabilities:    
Restricted cash 1,828 314
Accounts receivable (9,775) (19,621)
Prepaid expenses and other current assets 7,161 (1,177)
Accounts payable 5,295 (1,427)
Deferred revenue (2,367) 4,996
Accrued employee costs (11,612) (10,282)
Accrued expenses and other liabilities (6,074) 4,413
Advance income tax, net (1,117) (3,179)
Other assets (36) (433)
Net cash provided by operating activities 46,901 26,915
Cash flows from investing activities:    
Purchase of property, plant and equipment (20,447) (14,872)
Purchase of investments (169,422) (132,275)
Proceeds from redemption of investments 39,475 41,179
Net cash used for investing activities (150,394) (105,968)
Cash flows from financing activities:    
Principal payments on capital lease obligations (94) (240)
Repayments of borrowings 0 (25,000)
Acquisition of treasury stock (23,332) (9,704)
Proceeds from exercise of stock options 1,778 4,195
Net cash used for financing activities (21,648) (30,749)
Effect of exchange rate changes on cash and cash equivalents 1,400 (2,408)
Net decrease in cash and cash equivalents (123,741) (112,210)
Cash and cash equivalents, beginning of period 213,155 205,323
Cash and cash equivalents, end of period $ 89,414 $ 93,113