Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 7,507 $ 5,031
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,874 6,908
Loss on rental units and other fixed assets 567 648
Gain on sale of former assets (203)  
Provision for sales returns and doubtful accounts 5,053 2,409
Provision for rental revenue adjustments 5,470 4,286
Provision for inventory obsolescence and other inventory losses, net of recoveries 108 113
Stock-based compensation expense 3,451 1,327
Deferred tax assets 3,960  
Excess tax benefits from stock-based compensation arrangements   (2,688)
Changes in operating assets and liabilities:    
Accounts receivable (18,436) (12,111)
Inventories (4,980) (1,805)
Deferred cost of revenue (106) 55
Income tax receivable 930 2,669
Prepaid expenses and other current assets (1,493) (601)
Accounts payable and accrued expenses 6,383 5,923
Accrued payroll (743) 191
Warranty reserve 1,048 491
Deferred revenue 1,415 941
Income tax payable (11)  
Other noncurrent liabilities 3 (36)
Net cash provided by operating activities 16,797 13,751
Cash flows from investing activities    
Purchases of available-for-sale investments (14,857) (20,557)
Maturities of available-for-sale investments 18,054 6,317
Investment in intangible assets   (11)
Investment in property and equipment (4,183) (7,760)
Proceeds from sale of former assets 298  
Net cash used in investing activities (688) (22,011)
Cash flows from financing activities    
Proceeds from stock options exercised 1,992 379
Proceeds from employee stock purchases 500 342
Repayment of debt from investment in intangible assets (156) (163)
Excess tax benefits from stock-based compensation arrangements   2,688
Net cash provided by financing activities 2,336 3,246
Effect of exchange rates on cash (51)  
Net increase (decrease) in cash and cash equivalents 18,394 (5,014)
Cash and cash equivalents, beginning of period 66,106 56,836
Cash and cash equivalents, end of period 84,500 51,822
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 7 15
Cash paid (received) during the period for income taxes, net of refunds received $ (927) $ 33