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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 36,771 $ 28,967
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,547 1,352
Net foreign currency gains (1,189) (660)
Stock-based compensation 4,423 4,204
Deferred income taxes 0 15,560
Provision for bad debts 26 (1,329)
Tax benefits from stock based compensation 1,577 72
Excess tax benefits from stock-based compensation (1,577) (72)
Other non-cash operating activities 159 462
Changes in assets and liabilities:    
Accounts receivable 8,769 14,990
Unbilled services 95 527
Prepaid expenses, prepaid income taxes, and other assets (609) 1,242
Installments receivables 1,326 253
Accounts payable, accrued expenses, and other liabilities 2,348 (7,961)
Deferred revenue (35,220) (17,664)
Net cash provided by operating activities 18,446 39,943
Cash flows from investing activities:    
Purchases of marketable securities 0 (11,985)
Maturities of marketable securities 10,370 14,513
Purchases of property, equipment and leasehold improvements (1,119) (2,891)
Capitalized computer software development costs 0 (136)
Net cash provided by (used in) investing activities 9,251 (499)
Cash flows from financing activities:    
Exercises of stock options 611 1,050
Repurchases of common stock (55,033) (45,000)
Payments of tax withholding obligations related to restricted stock (1,125) (1,411)
Excess tax benefits from stock-based compensation 1,577 72
Net cash used in financing activities (53,970) (45,289)
Effect of exchange rate changes on cash and cash equivalents (237) (547)
Decrease in cash and cash equivalents (26,510) (6,392)
Cash and cash equivalents, beginning of year 156,249 199,526
Cash and cash equivalents, end of year 129,739 193,134
Supplemental disclosure of cash flow information:    
Income taxes paid, net 2,895 1,551
Interest paid $ 1 $ 3