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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities    
Net income $ 769 $ 819
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 228 272
Amortization of definite-lived intangible assets 425 25
Capitalized software amortization 394 282
Amortization of deferred financing costs 0 19
Change in fair value of contingent consideration 284 32
Stock-based compensation expense 386 423
Equity loss on investment in GSE-UNIS Simulation Technology Co. Ltd. (25) 0
(Gain) loss on derivative instruments (178) 678
Changes in assets and liabilities    
Contract receivables (685) (6,056)
Prepaid expenses and other assets (416) (310)
Accounts payable, accrued compensation and accrued expenses (2,079) 2,789
Billings in excess of revenue earned 3 2,610
Accrued warranty reserves 220 101
Other liabilities (889) (645)
Net cash provided by (used in) operating activities (1,563) 1,039
Cash flows from investing activities    
Capital expenditures (329) (201)
Capitalized software development costs (386) (475)
Investment in GSE-UNIS Simulation Technology Co. Ltd. (456) 0
Acquisitions, net of cash acquired (830) (432)
Restrictions of cash as collateral under letters of credit (4,939) 0
Release of cash as collateral under letters of credit 587 683
Drawdown of cash collateral on Emirates Simulation Academy, LLC line of credit (79) (146)
Proceeds from sale/leaseback transaction 0 377
Net cash used in investing activities (6,432) (194)
Cash flows from financing activities    
Deferred financing costs 0 (82)
Treasury stock purchases 336 0
Proceeds from issuance of common stock 119 68
Net cash used in financing activities (217) (14)
Effect of exchange rate changes on cash 269 (182)
Net increase (decrease) in cash and cash equivalents (7,943) 649
Cash and cash equivalents at beginning of year 26,577 25,270
Cash and cash equivalents at end of period 18,634 25,919
Non-cash financing activities    
Issuance of 122,617 shares of common stock to acquire TAS Holdings Ltd. $ 0 $ 682