v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES:    
Net income (loss) $ 4,412 $ (93)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 2,447 1,955
Amortization of deferred financing costs 778 789
Net deferred taxes (benefit) and other 941 67
Tax benefit on exercise of options 0 0
Provision for bad debts 357 274
Net (gain) loss on sale or disposal of assets (464) (157)
Non-cash stock-based compensation expense 1,481 1,111
Net (gain) loss on investments 0 0
Net (gain) loss on derivatives 0 0
Deferred rent 116 160
Unearned revenue - long-term 0 0
Net (gain) loss on extinguishment of debt 0 0
Deferred compensation 348 480
Tax benefit for vesting of restricted stock unit awards 0 0
Impairment loss 62 0
Net accretion expense for asset retirement obligations 3 4
Other income 0 0
Changes in assets and liabilities:    
Accounts receivable 12,293 11,196
Prepaid expenses and deposits (2,502) (1,487)
Prepaid and refundable income taxes 0 0
Accounts payable and accrued liabilities (1,695) 78
Accrued interest expense 5,671 5,758
Accrued liabilities - long-term (865) (913)
Prepaid expenses - long-term 271 116
Net cash provided by (used in) operating activities 23,654 19,338
INVESTING ACTIVITIES:    
Additions to property and equipment (965) (1,994)
Proceeds from sale of property, equipment, intangibles and other assets 3,800 7
Purchases of radio station assets 0 0
Deferred charges and other assets (147) (254)
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 2,688 (2,241)
FINANCING ACTIVITIES:    
Deferred financing expenses related to bank facility amendment 0 0
Proceeds from issuance of long-term debt 2,500 0
Proceeds from the financing method of lease obligations 102 0
Payments of long-term debt (20,836) (750)
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 3 31
Purchase of vested employee restricted stock units (2,142) (1,338)
Realization of tax benefits for payment of dividend equivalents 0 0
Payment of dividend equivalents on vested restricted stock units (91) 0
Payment of dividends (413) 0
Payment of fees associated with the issuance of preferred stock 0 0
Net cash provided by (used in) financing activities (20,877) (2,057)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 5,465 15,040
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 9,169 31,540
CASH AND CASH EQUIVALENTS, END OF PERIOD 14,634 46,580
Cash paid during the period for:    
Interest 3,080 2,861
Income taxes 140 16
Dividends $ 413 $ 0