v3.3.0.814
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES:    
Net income (loss) $ 15,096 $ 15,973
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 6,079 5,797
Amortization of deferred financing costs 2,404 3,391
Net deferred taxes (benefit) and other 9,608 11,605
Tax benefit on exercise of options 0 0
Provision for bad debts 918 899
Net (gain) loss on sale or disposal of assets (717) (329)
Non-cash stock-based compensation expense 4,097 3,751
Net (gain) loss on investments 0 0
Net (gain) loss on derivatives 0 0
Deferred rent 480 663
Unearned revenue - long-term (10) (28)
Net (gain) loss on extinguishment of debt 0 0
Deferred compensation (22) 888
Tax benefit for vesting of restricted stock unit awards 0 0
Impairment loss 0 0
Net accretion expense for asset retirement obligations 13 (18)
Other income 0 0
Changes in assets and liabilities:    
Accounts receivable (6,500) (3,444)
Prepaid expenses and deposits 46 (817)
Prepaid and refundable income taxes 0 0
Accounts payable and accrued liabilities 5,159 5,863
Accrued interest expense 5,788 5,602
Accrued liabilities - long-term (326) (1,235)
Prepaid expenses - long-term 660 (406)
Net cash provided by (used in) operating activities 42,773 48,155
INVESTING ACTIVITIES:    
Additions to property and equipment (5,974) (7,390)
Proceeds from sale of property, equipment, intangibles and other assets 406 80
Purchases of radio station assets (81,652) 0
Deferred charges and other assets (913) (658)
Purchases of investments 0 0
Proceeds from investments and capital projects 0 0
Proceeds from termination of radio station contract 0 0
Proceeds from insurance recovery 0 0
Station acquisition deposits and costs 0 0
Net cash provided by (used in) investing activities (88,133) (7,968)
FINANCING ACTIVITIES:    
Deferred financing expenses related to bank facility amendment 0 0
Proceeds from issuance of long-term debt 42,000 15,500
Proceeds from the financing method of lease obligations 0 0
Payments of long-term debt (17,250) (51,000)
Net proceeds from the senior unsecured notes 0 0
Retirement of senior subordinated notes 0 0
Purchase of the Company's common stock 0 0
Proceeds from issuance of employee stock plan 0 0
Proceeds from the exercise of stock options 35 42
Purchase of vested employee restricted stock units (1,527) (915)
Realization of tax benefits for payment of dividend equivalents 0 0
Payment of dividend equivalents on vested restricted stock units (7) 0
Payment of dividends 0 0
Payment of fees associated with the issuance of preferred stock (220) 0
Net cash provided by (used in) financing activities 23,031 (36,373)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (22,329) 3,814
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 31,540 12,231
CASH AND CASH EQUIVALENTS, END OF PERIOD 9,211 16,045
Cash paid during the period for:    
Interest 20,538 20,998
Income taxes 81 79
Dividends $ 0 $ 0