Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 10,962 $ 7,727
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,290 10,468
Loss on rental units and other fixed assets 891 889
Gain on sale of former assets (224)  
Provision for sales returns and doubtful accounts 8,177 5,346
Provision for rental revenue adjustments 7,783 6,364
Provision for inventory obsolescence and other inventory losses, net of recoveries 141 131
Stock-based compensation expense 5,404 2,343
Deferred tax assets 5,950 3,682
Changes in operating assets and liabilities:    
Accounts receivable (25,812) (13,251)
Inventories (9,220) (3,167)
Deferred cost of revenue (42) 41
Income tax receivable 546 (32)
Prepaid expenses and other current assets (600) (774)
Accounts payable and accrued expenses 7,801 3,030
Accrued payroll 573 573
Warranty reserve 1,424 673
Deferred revenue 1,856 1,615
Income tax payable (11)  
Other noncurrent liabilities (37) (54)
Net cash provided by operating activities 25,852 25,604
Cash flows from investing activities    
Purchases of available-for-sale investments (26,321) (33,557)
Maturities of available-for-sale investments 20,799 14,529
Investment in intangible assets (112) (21)
Investment in property and equipment (6,071) (9,780)
Proceeds from sale of former assets 328  
Net cash used in investing activities (11,377) (28,829)
Cash flows from financing activities    
Proceeds from stock options exercised 4,600 1,001
Proceeds from employee stock purchases 1,055 701
Repayment of debt from investment in intangible assets (235) (223)
Net cash provided by financing activities 5,420 1,479
Effect of exchange rates on cash 8  
Net increase (decrease) in cash and cash equivalents 19,903 (1,746)
Cash and cash equivalents, beginning of period 66,106 56,836
Cash and cash equivalents, end of period 86,009 55,090
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 9 21
Cash paid (received) during the period for income taxes, net $ (533) $ 32