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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 27,831 $ 13,446
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 6,468 5,481
Amortization 28,406 38,004
Stock-based compensation expense 3,215 8,559
Amortization of debt issuance costs and discount 498 2,024
Deferred income tax benefit (420) (568)
Other (615) (256)
Changes in assets and liabilities:    
Accounts receivable and unbilled, net 5,340 (16,606)
Prepaid expenses and other current assets (1,271) (8,733)
Accounts payable (467) (943)
Accrued expenses (4,840) 1,257
Pre-funded study costs 1,149 6,810
Advanced billings 2,381 16,560
Other assets and liabilities, net 1,058 (2,368)
Net cash provided by operating activities 68,733 62,667
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (8,329) (7,843)
Acquisition of intangibles (569) 0
Other 44 83
Net cash used in investing activities (8,854) (7,760)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment for common stock issuance costs 0 (2,719)
Proceeds from stock option exercises 1,187 452
Repurchases of common stock (95,260) 0
Payment of debt (9,281) (225,054)
Proceeds from revolving loan 40,000 0
Payments on revolving loan (10,000) 0
Payment of deemed landlord liability (1,240) (1,129)
Proceeds from common stock issued, net of underwriters discount 0 173,578
Net cash used in financing activities (74,594) (54,872)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 1,555 227
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (13,160) 262
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 37,407 17,737
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period $ 24,247 $ 17,999