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Condensed Consolidated Statement of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 7,553,117 $ 7,008,450
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 12,842,347 12,931,952
Stock-based compensation expense 4,854,194 4,023,227
Deferred income taxes 613,381 1,208,931
Bad debt provision 1,214,166 651,543
Change in fair value of contingent consideration 1,690,743 (1,743,637)
Other operating activities 157,281 310,929
Change in assets:    
Accounts receivable and unbilled revenue (17,558,439) (18,057,683)
Inventories (13,116,248) (14,728,826)
Prepaid expenses and other assets (13,436,443) (11,604,972)
Change in liabilities:    
Accounts payable 4,471,133 (3,442,578)
Accrued expenses and other liabilities 3,458,063 7,404,928
Net cash used in operating activities (7,256,705) (16,037,736)
Cash flows from investing activities    
Purchases of property and equipment (12,125,611) (10,905,871)
Other investing activities 0 (594,207)
Net cash used in investing activities (12,125,611) (11,500,078)
Cash flows from financing activities    
Net borrowings from revolving credit facility 23,488,681 34,500,000
Net short-term secured borrowings (550,921) 2,717,222
Repurchases of common stock (4,897,184) 0
Payments of contingent consideration (8,009,775) (5,768,591)
Proceeds from exercise of stock options 650,409 407,483
Payments of Debt Issuance Costs 0 (623,364)
Other financing activities (425,716) 458,667
Net cash provided by financing activities 10,255,494 31,691,417
Effect of exchange rate changes on cash and cash equivalents (813,531) (605,970)
(Decrease) increase in cash and cash equivalents (9,940,353) 3,547,633
Cash and cash equivalents, beginning of period 22,577,942 18,606,030
Cash and cash equivalents, end of period $ 12,637,589 $ 22,153,663