Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

v3.4.0.3
Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 2,365 $ 1,572
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,448 3,444
Loss on rental units and other fixed assets 306 205
Provision for sales returns 2,066 966
Provision for doubtful accounts 841 297
Provision for rental revenue adjustments 2,644 2,481
Provision for inventory obsolescence 23 32
Recovery on other inventory losses (6) (9)
Stock-based compensation expense 1,295 518
Deferred tax assets 990  
Excess tax benefits from stock-based compensation arrangements   (1,818)
Changes in operating assets and liabilities:    
Accounts receivable (9,486) (6,203)
Inventories (2,170) (199)
Deferred costs of revenue (123) 83
Income tax receivable   814
Prepaid expenses and other current assets (315) (162)
Accounts payable and accrued expenses 4,260 2,975
Accrued payroll (2,254) 586
Warranty reserve 456 276
Deferred revenue 458 221
Income tax payable (5)  
Other noncurrent liabilities (16) (18)
Net cash provided by operating activities 4,777 6,061
Cash flows from investing activities    
Purchases of available-for-sale investments (6,990)  
Maturities of available-for-sale investments 10,100  
Investment in intangible assets   (11)
Production and purchase of rental equipment (1,455) (3,477)
Purchases of property and equipment (714) (552)
Reimbursement of deposit 1  
Net cash provided by (used in) investing activities 942 (4,040)
Cash flows from financing activities    
Proceeds from stock options exercised 92 166
Proceeds from employee stock purchases 500 342
Repayment of debt from investment in intangible assets (77) (81)
Excess tax benefits from stock-based compensation arrangements   1,818
Net cash provided by financing activities 515 2,245
Effect of exchange rates on cash 60  
Net increase in cash and cash equivalents 6,294 4,266
Cash and cash equivalents, beginning of period 66,106 56,836
Cash and cash equivalents, end of period 72,400 61,102
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 4 8
Cash paid during the period for income taxes, net of refunds received $ 5 $ 33