XML 41 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net earnings $ 18,626 $ 22,470
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 9,864 5,231
Stock compensation expense 2,348 1,981
Deferred income taxes 75 (783)
Provision for Doubtful Accounts 68 0
Foreign currency transaction loss 7 63
Changes in assets and liabilities    
Accounts receivable (9,397) 2,144
Inventories (256) (4,103)
Prepaid expenses and other current assets 215 1,065
Accounts payable and accrued expenses 3,262 (5,097)
Income taxes 2,552 848
Customer deposits and other deferred revenue (35) 0
Other 274 (35)
Net cash provided by operating activities 27,603 23,784
Cash flows from investing activities:    
Capital expenditures (3,504) (5,171)
Cash paid for acquistion, net of cash acquired (566,607) 0
Intangible assets acquired (41) (216)
Net cash used in investing activities (570,152) (5,387)
Cash flows from financing activities:    
Proceeds from long-term debt 350,000 0
Proceeds from revolving loan 50,000 0
Cash paid for financing costs (2,543) 0
Repayments of short-term obligations (89) (89)
Proceeds from stock options exercised 2,881 5,088
Excess tax benefits from stock compensation 1,472 3,164
Dividends paid (7,856) 0
Purchase of treasury stock (267) (56)
Net cash provided by financing activities 393,598 8,107
Effect of exchange rate changes on cash (82) (21)
(Decrease) increase in cash and cash equivalents (149,033) 26,483
Cash and cash equivalents beginning of period 208,747 144,737
Cash and cash equivalents end of period $ 59,714 $ 171,220