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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities  
Net income$ 1,627$ 271
Adjustments to reconcile net income to net cash provided by (used in) operating activities  
Depreciation365418
Amortization of definite-lived intangible assets62963
Capitalized software amortization612452
Amortization of deferred financing costs029
Change in fair value of contingent consideration33182
Stock-based compensation expense569633
Equity loss on investment in GSE-UNIS Simulation Technology Co. Ltd.220
(Gain) loss on derivative instruments(49)631
Changes in assets and liabilities  
Contract receivables(2,980)2,340
Prepaid expenses and other assets(1,359)(2,134)
Accounts payable, accrued compensation and accrued expenses(1,597)6,493
Billings in excess of revenue earned656(23)
Accrued warranty reserves401242
Other liabilities(844)(496)
Net cash provided by (used in) operating activities(1,617)9,001
Cash flows from investing activities  
Capital expenditures(370)(325)
Capitalized software development costs(572)(741)
Investment in GSE-UNIS Simulation Technology Co. Ltd.(456)0
Acquisitions, net of cash acquired(830)(542)
Restrictions of cash as collateral under letters of credit(5,171)0
Release of cash as collateral under letters of credit1,178801
Drawdown of cash collateral on Emirates Simulation Academy, LLC line of credit(79)(163)
Proceeds from sale/leaseback transaction0377
Net cash used in investing activities(6,300)(593)
Cash flows from financing activities  
Deferred financing costs0(82)
Treasury stock purchases(1,127)0
Proceeds from issuance of common stock11974
Net cash used in financing activities(1,008)(8)
Effect of exchange rate changes on cash6151
Net increase (decrease) in cash and cash equivalents(8,919)8,551
Cash and cash equivalents at beginning of year26,57725,270
Cash and cash equivalents at end of period17,65833,821
Non-cash financing activities  
Issuance of 122,617 shares of common stock to acquire TAS Holdings Ltd.$ 0$ 682