XML 46 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash Flows from Operating Activities    
Net income $ 7,900,000us-gaap_NetIncomeLoss $ 9,716,000us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash equity compensation 2,880,000us-gaap_ShareBasedCompensation 3,929,000us-gaap_ShareBasedCompensation
Depreciation and amortization 8,163,000us-gaap_DepreciationDepletionAndAmortization 5,035,000us-gaap_DepreciationDepletionAndAmortization
Other adjustments, net (1,196,000)us-gaap_OtherNoncashIncomeExpense (1,103,000)us-gaap_OtherNoncashIncomeExpense
Changes in operating assets and liabilities, net of the effect of acquisitions:    
Contract receivables, net (20,757,000)us-gaap_IncreaseDecreaseInReceivables (24,246,000)us-gaap_IncreaseDecreaseInReceivables
Prepaid expenses and other assets (1,821,000)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,231,000)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable (10,336,000)us-gaap_IncreaseDecreaseInAccountsPayable 616,000us-gaap_IncreaseDecreaseInAccountsPayable
Accrued salaries and benefits (16,333,000)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (12,956,000)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Accrued expenses (5,218,000)us-gaap_IncreaseDecreaseInAccruedLiabilities 5,903,000us-gaap_IncreaseDecreaseInAccruedLiabilities
Deferred revenue 7,855,000us-gaap_IncreaseDecreaseInDeferredRevenue 456,000us-gaap_IncreaseDecreaseInDeferredRevenue
Income tax receivable and payable 4,906,000us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable 3,271,000us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
Other liabilities 615,000us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (1,419,000)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net Cash Used in Operating Activities (23,342,000)us-gaap_NetCashProvidedByUsedInOperatingActivities (12,029,000)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash Flows from Investing Activities    
Capital expenditures for property and equipment and capitalized software (3,309,000)us-gaap_PaymentsToAcquireProductiveAssets (5,658,000)us-gaap_PaymentsToAcquireProductiveAssets
Payments for business acquisitions, net of cash received (1,818,000)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (57,716,000)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Net Cash Used in Investing Activities (5,127,000)us-gaap_NetCashProvidedByUsedInInvestingActivities (63,374,000)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash Flows from Financing Activities    
Advances from working capital facilities 122,965,000us-gaap_ProceedsFromBankDebt 168,516,000us-gaap_ProceedsFromBankDebt
Payments on working capital facilities (95,718,000)us-gaap_RepaymentsOfLongTermDebt (81,308,000)us-gaap_RepaymentsOfLongTermDebt
Proceeds from exercise of options 445,000us-gaap_ProceedsFromStockOptionsExercised 1,177,000us-gaap_ProceedsFromStockOptionsExercised
Tax benefits of stock option exercises and award vesting 826,000us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 2,435,000us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Net payments for stockholder issuances and buybacks (3,666,000)us-gaap_ProceedsFromRepurchaseOfEquity (3,819,000)us-gaap_ProceedsFromRepurchaseOfEquity
Net Cash Provided by Financing Activities 24,852,000us-gaap_NetCashProvidedByUsedInFinancingActivities 87,001,000us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash (1,480,000)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (347,000)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
(Decrease) increase in Cash (5,097,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 11,251,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash, beginning of period 12,122,000us-gaap_CashAndCashEquivalentsAtCarryingValue 8,953,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash, end of period 7,025,000us-gaap_CashAndCashEquivalentsAtCarryingValue 20,204,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental Disclosure of Cash Flow Information    
Interest 2,822,000us-gaap_InterestPaid 550,000us-gaap_InterestPaid
Income taxes $ 1,786,000us-gaap_IncomeTaxesPaid $ 582,000us-gaap_IncomeTaxesPaid