XML 33 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 4,291 $ 4,856 $ 19,787
Adjustments to reconcile net income to net cash provided by operating activities:      
Auction rate securities settlement 0 0 (18,500)
Depreciation and amortization (see Note 3 and Note 10e) 295 582 778
Impairment of auction rate securities 0 0 941
Impairment of goodwill 0 586 0
Impairment of intangible asset 0 407 0
Financial loss from available for sale securities 47 0 0
Deferred income taxes, net (277) 0 113
Accrued severance pay (138) 134 39
Capital gain on sale of property and equipment, net (19) (15) (10)
Employees share based compensation 61 139 143
Stock- based compensation granted to a customer (deducted from revenues) 332 0 0
Realized loss on sale of available for sale securities 61 0 0
Decrease (increase) in accounts receivable:      
Trade (168) (352) 2,265
Other (167) 44 (51)
Decrease (increase) in prepaid expenses and deferred cost of revenues (705) (74) 270
Decrease in inventories 1 4 2
Increase (decrease) in accounts payable and accruals:      
Trade 505 (207) (19)
Other (22) (336) (169)
Increase in deferred revenues 288 536 677
Net cash provided by operating activities 4,385 6,304 6,266
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from settlement of auction rate securities 0 0 18,500
Purchase of available for sale securities (2,505) 0 0
Proceeds from sale of available for sale securities 1,445 0 0
Purchase of property and equipment (401) (171) (367)
Severance pay funds 191 (208) (416)
Investment in short-term bank deposits (1,393) (722) (2,183)
Proceeds from sale of property and equipment 79 40 194
Net cash provided by (used in) investing activities (2,584) (1,061) 15,728
CASH FLOWS FROM FINANCING ACTIVITIES:      
Cost of acquisition of treasury shares 0 0 (1,169)
Employee stock options exercised and paid 399 75 0
Dividend paid (5,968) (3,686) (14,780)
Net cash used in financing activities (5,569) (3,611) (15,949)
TRANSLATION ADJUSTMENTS ON CASH AND CASH EQUIVALENTS 52 (45) 228
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,716) 1,587 6,273
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 17,582 15,995 9,722
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR 13,866 17,582 15,995
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH ACTIVITIES -      
Taxes paid 72 190 85
Supplier credit granted to the company for property and equipment investments $ 39 $ 0 $ 0