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Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 13,709$ 7,171
Adjustments required to reconcile net income to net cash provided by operating activities:  
Depreciation377393
Equity-based compensation3,5401,661
Gain from sale of property and equipment(10) 
Gain on available-for-sale marketable securities(8)(34)
Amortization of premiums on available-for-sale marketable securities1,5781,135
Accrued interest on short term bank deposits(751)(467)
Unrealized foreign exchange gain(15)(34)
Changes in operating assets and liabilities:  
Decrease in trade receivables1,421995
Decrease in prepaid expenses and other accounts receivable1,0861,046
Increase in deferred tax, net(1,367)(215)
Decrease in trade payables(24)(30)
Increase in deferred revenues834334
Decrease in accrued expenses and other payables(1,310)(133)
Excess tax benefit from stock-based compensation(1,223)(1,125)
Increase in accrued severance pay, net20580
Net cash provided by operating activities18,04210,777
Cash flows from investing activities:  
Purchase of property and equipment(221)(707)
Proceeds from sale of property and equipment10 
Investment in bank deposits(25,500)(27,449)
Proceeds from bank deposits13,19838,725
Investment in available-for-sale marketable securities(34,392)(46,721)
Proceeds from maturity of available-for-sale marketable securities21,08917,551
Proceeds from sale of available-for-sale marketable securities4,39812,114
Net cash used in investing activities(21,418)(6,487)
Cash flows from financing activities:  
Purchase of Treasury Stock (1,567)
Proceeds from issuance of Common Stock upon exercise of stock options6,4195,643
Proceeds from issuance of Common Stock under employee stock purchase plan1,236795
Proceeds from issuance of Treasury Stock upon exercise of stock options 688
Proceeds from issuance of Treasury Stock under employee stock purchase plan 292
Excess tax benefit from stock-based compensation1,2231,125
Net cash provided by financing activities8,8786,976
Effect of exchange rate movements on cash95(236)
Increase in cash and cash equivalents5,59711,030
Cash and cash equivalents at the beginning of the period17,09812,104
Cash and cash equivalents at the end of the period$ 22,695$ 23,134