|
|
|
| |
Consolidated Statements of Cash Flows
| |
Years Ended March 31,
|
| |
1999
|
2000
|
2001
|
|
Cash Flows from Operating Activites
|
|
| |
Net income
|
$10,403,000
|
$11,967,000
|
$13,222,000
|
| |
Adjustments to reconcile net income to net cash
provided by operating activities:
|
|
| |
|
Depreciation
|
6,344,000
|
6,965,000
|
6,759,000
|
| |
|
Deferred income taxes
|
(588,000)
|
(131,000)
|
303,000
|
| |
|
Loss on write down and (gain) on disposal of property
and equipment
|
37,000
|
192,000
|
(45,000)
|
| |
|
Changes in operating assets and liabilities:
|
|
| |
|
|
Accounts receivable
|
(5,929,000)
|
(4,312,000)
|
1,558,000
|
| |
|
|
Prepaid expenses and taxes
|
(120,000)
|
(1,075,000)
|
(534,000)
|
| |
|
|
Accounts and taxes payable
|
390,000
|
(1,158,000)
|
(2,304,000)
|
| |
|
|
Accrued liabilities
|
154,000
|
1,050,000
|
4,657,000
|
| |
|
|
Other assets
|
(482,000)
|
(779,000)
|
149,000
|
| |
Net cash provided by operating activities
|
10,209,000
|
12,719,000
|
23,765,000
|
| |
|
Cash Flows from Investing Activities
|
|
| |
Purchases of property and equipment
|
(6,627,000)
|
(6,240,000)
|
(10,154,000)
|
| |
Net cash used in investing activities
|
(6,627,000)
|
(6,240,000)
|
(10,154,000)
|
| |
|
Cash Flows from Financing Activities
|
|
| |
Proceeds and tax benefits from exercise of stock
options
|
2,303,000
|
3,078,000
|
4,150,000
|
| |
Purchase of common stock
|
(5,263,000)
|
(12,966,000)
|
(13,947,000)
|
| |
Net cash used in financing activities
|
(2,960,000)
|
(9,888,000)
|
(9,797,000)
|
|
Net increase (decrease) in cash and cash equivalents
|
622,000
|
(3,409,000)
|
3,814,000
|
|
Cash and cash equivalents at beginning of year
|
8,430,000
|
9,052,000
|
5,643,000
|
| |
|
Cash and Cash Equivalents at End of Year
|
$9,052,000 
|
$5,643,000 
|
$9,457,000 
|
|
|