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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 37,422 $ 35,279
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,208 3,752
Deferred taxes 6,767 (2,076)
Stock-based compensation expense 5,603 4,325
Provision for excess and obsolete inventory 1,657 1,547
Changes in operating assets & liabilities:    
Accounts receivable (10,222) (18,374)
Inventories (4,867) (8,237)
Prepaid expenses and other current assets 49 (1,645)
Accounts payable and other current liabilities (10,872) 21,345
Deferred revenue 1,245 5,353
Income taxes (61) 34
Other assets and liabilities (13,709) (981)
Net cash provided by operating activities 17,220 40,322
Cash flows from investing activities    
Expenditures for property, plant and equipment and capitalized software (3,852) (6,910)
Net cash used in investing activities (3,852) (6,910)
Cash flows from financing activities    
Net settlement on restricted stock grants (1,393) (1,134)
Proceeds from Employee Stock Purchase Plan 437 349
Proceeds from exercise of stock options 1,289 11,112
Net cash provided by financing activities 333 10,327
Effect of exchange rate changes on cash and cash equivalents 1,012 (706)
Net increase in cash, cash equivalents and restricted cash 14,713 43,033
Cash, cash equivalents and restricted cash at beginning of period 140,880 77,655
Cash, cash equivalents and restricted cash at end of period $ 155,593 $ 120,688