Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 5,932 $ 2,521
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,204 3,448
Loss on rental units and other fixed assets 325 306
Gain on sale of former rental assets (37)  
Provision for sales returns and doubtful accounts 3,181 2,907
Provision for rental revenue adjustments 1,731 2,644
Provision for inventory obsolescence and other inventory losses, net of recoveries 7 17
Stock-based compensation expense 1,891 1,295
Deferred tax assets (54) 834
Changes in operating assets and liabilities:    
Accounts receivable (5,015) (9,486)
Inventories 49 (2,170)
Deferred cost of revenue 16 (123)
Income tax receivable (129)  
Prepaid expenses and other current assets (773) (315)
Accounts payable and accrued expenses 4,045 4,260
Accrued payroll (2,291) (2,254)
Warranty reserve 528 456
Deferred revenue 621 458
Income tax payable   (5)
Other noncurrent liabilities (19) (16)
Net cash provided by operating activities 13,212 4,777
Cash flows from investing activities    
Purchases of available-for-sale investments (9,988) (6,990)
Maturities of available-for-sale investments 7,950 10,100
Investment in property and equipment (593) (714)
Production and purchase of rental equipment (1,188) (1,455)
Proceeds from sale of former assets 54  
Reimbursement of deposit   1
Net cash provided by (used in) investing activities (3,765) 942
Cash flows from financing activities    
Proceeds from stock options exercised 2,222 92
Proceeds from employee stock purchases 581 500
Repayment of debt from investment in intangible assets   (77)
Net cash provided by financing activities 2,803 515
Effect of exchange rates on cash 4 60
Net increase in cash and cash equivalents 12,254 6,294
Cash and cash equivalents, beginning of period 92,851 66,106
Cash and cash equivalents, end of period 105,105 72,400
Supplemental disclosures of cash flow information    
Cash paid during the period for interest   4
Cash paid during the period for income taxes, net $ 45 $ 5