XML 28 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities:    
Net Income $ 7,533 $ 1,473
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 974 995
Intangible asset amortization 2,057 2,822
Stock-based compensation 2,518 2,008
Amortization of deferred commissions 3,609 2,309
Payments of deferred commissions (6,546) (2,699)
Equity in losses (earnings) of affiliates 223 (64)
Realized and unrealized (gains) losses on trading securities (839) 177
Sale (purchase) of trading securities, net (3,933) 694
Changes in operating assets and liabilities:    
Accounts receivable (3,642) 997
Prepaid expenses and other assets (522) 305
Accounts payable and accrued liabilities (960) (4,698)
Income taxes payable 269 (432)
Other liabilities (685) 578
Net cash provided by operating activities 56 4,465
Cash Flows from Investing Activities:    
Capital expenditures (373) (173)
Purchase of investment management contracts (141)  
Purchase of available-for-sale securities (178) (46)
Net cash used in investing activities (692) (219)
Cash Flows from Financing Activities:    
Contingent consideration for investment management contracts (374)  
Preferred stock dividends paid (1,408) (900)
Repurchase of common shares, net (4,820)  
Proceeds from exercise of stock options 410  
Taxes paid related to net share settlement of RSUs (485) (380)
Net cash used in financing activities (6,677) (1,280)
Net (decrease) increase in cash (7,313) 2,966
Cash and cash equivalents, beginning of period 43,948 28,620
Cash and Cash Equivalents, end of period 36,635 31,586
Supplemental Cash Flow Information:    
Interest paid 201 262
Income taxes paid $ 434 $ 526