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CONSOLIDATED BALANCE SHEETS
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|
Years Ended March 31,
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|
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2003 |
2004
|
2005
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CASH FLOWS FROM OPERATING ACTIVITIES
Net income...............
|
$16,584,000
|
$16,013,000
|
10,157,000
|
| Adjustments to reconcile net income to net cash provided by operating activities:
|
|
| Depreciation and amortization...............
|
9,339,000
|
9,958,000
|
11,085,000
|
|
Loss on write down or disposal of property or
capitalized software...............
|
1,500,000
|
—
|
238,000
|
 Provision for doubtful accounts...............
|
1,352,000
|
2,100,000
|
2,355,000
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| Tax benefits from stock option exercises...............
|
1,265,000
|
2,035,000
|
873,000
|
| Deferred income taxes...............
|
999,000
|
1,323,000
|
1,787,000
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| Changes in operating assets and liabilities:
|
|
| Accounts receivable...............
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(11,130,000)
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(1,941,000)
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(2,428,000)
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| Prepaid expenses and taxes...............
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(3,431,000)
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(536,000)
|
1,472,000
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| Accounts and taxes payable...............
|
2,800,000
|
789,000
|
1,528,000
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| Accrued liabilities...............
|
1,553,000
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(1,975,000)
|
(788,000) |
| Other assets...............
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1,417,000
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(42,000)
|
76,000
|
| Net cash provided by operating activities...............
|
22,248,000
|
27,724,000
|
26,355,000
|
| CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of
business, net of cash acquired...............
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(3,395,000)
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(4,228,000)
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(80,000)
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| Purchases of property and equipment...............
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(13,929,000)
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(13,122,000)
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(11,560,000)
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| Net cash used in investing activities...............
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(17,324,000)
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(17,350,000)
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(11,640,000)
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CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from employee stock purchase plan...............
|
952,000
|
1,143,000
|
1,043,000
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| Proceeds from exercise of stock options...............
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2,423,000
|
3,365,000
|
1,746,000
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| Purchase of treasury stock...............
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(14,987,000)
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(12,154,000)
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(17,200,000)
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| Net cash used in financing activities...............
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(11,612,000)
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(7,646,000)
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(14,411,000)
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| Net increase (decrease) in cash and cash
equivalents...............
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(6,688,000)
|
2,728,000
|
304,000
|
| Cash and cash equivalents at beginning of year...............
|
12,601,000
|
5,913,000
|
8,641,000
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| CASH AND CASH EQUIVALENTS AT END OF YEAR...............
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$5,913,000
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$8,641,000
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$8,945,000
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