XML 66 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net income $ 41us-gaap_NetIncomeLoss $ 4,533us-gaap_NetIncomeLoss $ 3,580us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for doubtful accounts 1,610us-gaap_ProvisionForDoubtfulAccounts 1,305us-gaap_ProvisionForDoubtfulAccounts 536us-gaap_ProvisionForDoubtfulAccounts
Depreciation and amortization 9,987us-gaap_DepreciationDepletionAndAmortization 5,994us-gaap_DepreciationDepletionAndAmortization 4,610us-gaap_DepreciationDepletionAndAmortization
Deferred income taxes (1,813)kvhi_DeferredIncomeTaxExpenseBenefitExcludingForeignCurrencyTranslationAdjustment (713)kvhi_DeferredIncomeTaxExpenseBenefitExcludingForeignCurrencyTranslationAdjustment 2,046kvhi_DeferredIncomeTaxExpenseBenefitExcludingForeignCurrencyTranslationAdjustment
Loss on sale of fixed assets 30us-gaap_GainLossOnDispositionOfAssets1 0us-gaap_GainLossOnDispositionOfAssets1 0us-gaap_GainLossOnDispositionOfAssets1
Unrealized gain (loss) on derivative instruments 0kvhi_LossOnInterestRateSwaps 222kvhi_LossOnInterestRateSwaps (128)kvhi_LossOnInterestRateSwaps
Compensation expense related to stock-based awards and employee stock purchase plan 3,771us-gaap_ShareBasedCompensation 4,124us-gaap_ShareBasedCompensation 3,679us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities:      
Accounts receivable (8,235)us-gaap_IncreaseDecreaseInAccountsReceivable 1,229us-gaap_IncreaseDecreaseInAccountsReceivable (2,231)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories 867us-gaap_IncreaseDecreaseInInventories (1,967)us-gaap_IncreaseDecreaseInInventories 2,420us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other assets 1,141us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 619us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (716)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other non-current assets 569us-gaap_IncreaseDecreaseInOtherOperatingAssets (675)us-gaap_IncreaseDecreaseInOtherOperatingAssets (558)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable 1,676us-gaap_IncreaseDecreaseInAccountsPayable 1,196us-gaap_IncreaseDecreaseInAccountsPayable 943us-gaap_IncreaseDecreaseInAccountsPayable
Deferred revenue 1,622us-gaap_IncreaseDecreaseInDeferredRevenue (124)us-gaap_IncreaseDecreaseInDeferredRevenue (785)us-gaap_IncreaseDecreaseInDeferredRevenue
Accrued expenses (1,002)us-gaap_IncreaseDecreaseInAccruedLiabilities 891us-gaap_IncreaseDecreaseInAccruedLiabilities 1,401us-gaap_IncreaseDecreaseInAccruedLiabilities
Other long-term liabilities 106us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 65us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 4us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash provided by operating activities 10,370us-gaap_NetCashProvidedByUsedInOperatingActivities 16,255us-gaap_NetCashProvidedByUsedInOperatingActivities 15,057us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:      
Capital expenditures (5,118)us-gaap_PaymentsToAcquireProductiveAssets (4,720)us-gaap_PaymentsToAcquireProductiveAssets (6,504)us-gaap_PaymentsToAcquireProductiveAssets
Net cash paid for business acquired (43,448)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (22,944)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Purchases of marketable securities (12,270)us-gaap_PaymentsToAcquireMarketableSecurities (41,950)us-gaap_PaymentsToAcquireMarketableSecurities (21,945)us-gaap_PaymentsToAcquireMarketableSecurities
Maturities and sales of marketable securities 34,150us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 24,867us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 16,190us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities
Net cash used in investing activities (26,686)us-gaap_NetCashProvidedByUsedInInvestingActivities (44,747)us-gaap_NetCashProvidedByUsedInInvestingActivities (12,259)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:      
Repayments of long-term debt (1,272)us-gaap_RepaymentsOfLongTermDebt (1,030)us-gaap_RepaymentsOfLongTermDebt (131)us-gaap_RepaymentsOfLongTermDebt
Borrowings from long-term debt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 5,844us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayments of Long-term loan (1,219)kvhi_RepaymentsofLongtermloan 0kvhi_RepaymentsofLongtermloan 0kvhi_RepaymentsofLongtermloan
Proceeds from Long-term loan 65,000kvhi_ProceedsfromLongtermloan 0kvhi_ProceedsfromLongtermloan 0kvhi_ProceedsfromLongtermloan
Proceeds from stock options exercised and employee stock purchase plan 608kvhi_ProceedsFromStockOptionsExercisedAndEmployeeStockPurchasePlan 2,344kvhi_ProceedsFromStockOptionsExercisedAndEmployeeStockPurchasePlan 1,578kvhi_ProceedsFromStockOptionsExercisedAndEmployeeStockPurchasePlan
Payment of employee restricted stock withholdings (482)kvhi_PaymentsOfEmployeeRestrictedStockWithholdings (828)kvhi_PaymentsOfEmployeeRestrictedStockWithholdings (332)kvhi_PaymentsOfEmployeeRestrictedStockWithholdings
Repayments of line of credit borrowings (30,000)us-gaap_RepaymentsOfLongTermLinesOfCredit 0us-gaap_RepaymentsOfLongTermLinesOfCredit (2,000)us-gaap_RepaymentsOfLongTermLinesOfCredit
Proceeds from line of credit borrowings 0us-gaap_ProceedsFromLongTermLinesOfCredit 23,000us-gaap_ProceedsFromLongTermLinesOfCredit 0us-gaap_ProceedsFromLongTermLinesOfCredit
Payment of stock registration fee 41kvhi_PaymentOfStockRegistrationFee (5)kvhi_PaymentOfStockRegistrationFee 0kvhi_PaymentOfStockRegistrationFee
Net cash provided by (used in) financing activities 32,676us-gaap_NetCashProvidedByUsedInFinancingActivities 29,325us-gaap_NetCashProvidedByUsedInFinancingActivities (885)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash and cash equivalents (429)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (453)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 48us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase in cash and cash equivalents 15,931us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 380us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 1,961us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 9,358us-gaap_CashAndCashEquivalentsAtCarryingValue 8,978us-gaap_CashAndCashEquivalentsAtCarryingValue 7,017us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 25,289us-gaap_CashAndCashEquivalentsAtCarryingValue 9,358us-gaap_CashAndCashEquivalentsAtCarryingValue 8,978us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:      
Cash paid for interest 1,296us-gaap_InterestPaid 601us-gaap_InterestPaid 201us-gaap_InterestPaid
Cash paid for income taxes 2,470us-gaap_IncomeTaxesPaidNet 1,248us-gaap_IncomeTaxesPaidNet 323us-gaap_IncomeTaxesPaidNet
Supplemental disclosure of noncash investing activity:      
Changes in accrued liabilities related to fixed asset additions $ 0kvhi_ChangesInAccruedLiabilitiesRelatedToFixedAssetAdditions $ 0kvhi_ChangesInAccruedLiabilitiesRelatedToFixedAssetAdditions $ 435kvhi_ChangesInAccruedLiabilitiesRelatedToFixedAssetAdditions