XML 20 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Operating activities:    
Net income $ 17,568 $ 11,436
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,225 5,973
Amortization of debt issuance costs and debt discount 691  
Provision for doubtful accounts (49) 211
Non-cash stock compensation 3,206 2,279
Deferred income taxes (184) (648)
Earnings on equity investment in joint venture (748) (1,342)
Changes in assets and liabilities:    
Trade accounts receivable 9,021 (28,265)
Other receivables 2,041 (488)
Inventory (10,418) 4,547
Prepaid expenses and other current assets (400) (1,086)
Other assets (11) 1,129
Accounts payable 2,649 1,547
Accrued expenses and other liabilities (13,323) 4,791
Net cash provided by operating activities 16,268 84
Investing activities:    
Purchases of investments (37) (1,101)
Sales of investments 1,023  
Payments for intangible assets (9,850) (940)
Purchases of property and equipment, net (725) (511)
Net cash used in investing activities (9,589) (2,552)
Financing activities:    
Payment of cash dividends (3,563) (3,473)
Proceeds from exercise of stock options 384 955
Excess tax benefit on stock option exercises and restricted stock 1,030 660
Payment of contingent consideration (1,500) (1,500)
Proceeds from convertible senior notes 143,750  
Payment for debt issuance costs (5,153)  
Proceeds from sold warrants 13,685  
Purchase of call option (hedge) (27,174)  
Termination payment for interest rate swap (420)  
Borrowings of bank loans 15,500 7,000
Repayment of bank loans (122,599) (4,245)
Net cash provided by (used in) financing activities 13,940 (603)
Effect of exchange rate changes on cash (290) (2,610)
Net increase (decrease) in cash 20,329 (5,681)
Cash and cash equivalents at beginning of period 34,020 42,897
Cash and cash equivalents at end of period $ 54,349 $ 37,216