|
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
Years Ended March 31,
|
| |
2004
|
2005
|
2006
|
CASH FLOWS FROM OPERATING
ACTIVITIES
Net income............
|
$16,013,000
|
$10,157,000
|
$9,753,000
|
| Adjustments to reconcile net income to net cash provided by operating activities:
|
|
 Depreciation and amortization............
|
9,958,000
|
11,085,000
|
10,940,000
|
| Loss on write down or disposal of property or capitalized software............
|
—
|
238,000
|
26,000
|
| Provision for doubtful accounts............
|
2,100,000
|
2,355,000
|
3,713,000
|
| Tax benefits from stock option exercises............
|
2,035,000
|
873,000
|
419,000
|
| Provision (benefit) for deferred income taxes............
|
1,323,000
|
1,787,000
|
(1,474,000)
|
| Changes in operating assets and liabilities:
|
|
| Accounts receivable............
|
(1,941,000)
|
(2,428,000)
|
2,377,000
|
| Prepaid expenses and taxes............
|
(536,000)
|
1,472,000
|
1,670,000
|
| Accounts and taxes payable............
|
789,000
|
1,528,000
|
1,419,000
|
| Accrued liabilities............
|
(1,975,000)
|
(788,000)
|
48,000
|
| Other assets............
|
(42,000)
|
76,000
|
(147,000)
|
| Net cash provided by operating activities............
|
27,724,000
|
26,355,000
|
28,744,000
|
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of business, net of cash acquired............
|
(4,228,000)
|
(80,000)
|
—
|
| Purchases of property and equipment............
|
(13,122,000)
|
(11,560,000)
|
(7,754,000)
|
| Net cash used in investing activities............
|
(17,350,000)
|
(11,640,000)
|
(7,754,000)
|
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from employee stock purchase plan............
|
1,143,000
|
1,043,000
|
658,000
|
| Proceeds from exercise of stock options............
|
3,365,000
|
1,746,000
|
2,337,000
|
| Purchase of treasury stock............
|
(12,154,000)
|
(17,200,000)
|
(18,724,000)
|
| Net cash used in financing activities............
|
(7,646,000)
|
(14,411,000)
|
(15,729,000)
|
| Net increase (decrease) in cash and cash
equivalents............
|
2,728,000
|
304,000
|
5,261,000
|
| Cash and cash equivalents at beginning of year............
|
5,913,000
|
8,641,000
|
8,945,000
|
| CASH AND CASH EQUIVALENTS AT END OF YEAR............
|
$8,641,000
|
$8,945,000
|
$14,206,000
|
|
