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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 18,000 $ 8,410
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 4,231 3,566
Amortization 18,910 25,336
Stock-based compensation expense 2,234 4,275
Amortization of debt issuance costs and discount 332 1,345
Deferred income tax benefit (864) (483)
Other (744) (207)
Changes in assets and liabilities:    
Accounts receivable and unbilled, net 3,405 (24,825)
Prepaid expenses and other current assets (519) (8,551)
Accounts payable (2,855) (2,112)
Accrued expenses (8,398) (1,461)
Pre-funded study costs (3,510) 2,372
Advanced billings (294) 15,017
Other assets and liabilities, net (195) (2,191)
Net cash provided by operating activities 29,733 20,491
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (6,019) (5,693)
Acquisition of intangibles (515) 0
Other 29 40
Net cash used in investing activities (6,505) (5,653)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock option exercises 955 102
Repurchases of common stock (26,405) 0
Payment of debt (6,187) (15,036)
Payment of deemed landlord liability (813) (744)
Net cash used in financing activities (32,450) (15,678)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 1,145 143
DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (8,077) (697)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 37,407 17,737
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period $ 29,330 $ 17,040