XML 19 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 14,200 $ 14,099
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,931 4,112
Amortization of intangibles 1,348 1,612
Loss on disposal of property and equipment 38 38
Stock-based compensation expense 5,625 4,969
Amortization of premium on marketable securities 262 251
Deferred income taxes (140) (1,105)
Increase in accounts receivable allowances 5 0
Change in operating assets and liabilities:    
Accounts receivable (934) (8,518)
Inventories (6,121) 1,415
Prepaid expenses and other assets (3,141) (8,234)
Accounts payable 233 (2,377)
Taxes payable and accrued liabilities (577) (315)
Net cash provided by operating activities 15,729 5,947
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (6,491) (6,403)
Acquisition of technology licenses (500) 0
Purchases of marketable securities 0 (61,938)
Proceeds from sales and maturities of marketable securities 52,366 46,340
Net cash provided by (used in) investing activities 45,375 (22,001)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock under employee stock plans 4,657 4,392
Repurchase of common stock (33,314) 0
Payments of dividends to stockholders (4,775) (4,137)
Proceeds from draw on line of credit 8,000 0
Payments on line of credit (8,000) 0
Net cash provided by (used in) financing activities (33,432) 255
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 27,672 (15,799)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 93,655 62,134
CASH AND CASH EQUIVALENTS AT END OF PERIOD 121,327 46,335
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unpaid property and equipment 1,961 11,953
Unpaid technology licenses 500 0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid (refund) for income taxes, net $ 273 $ (1,439)