Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 14,270 $ 10,013
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,321 6,874
Loss on rental units and other fixed assets 604 567
Gain on sale of former rental assets (50) (203)
Provision for sales returns and doubtful accounts 6,702 5,053
Provision for rental revenue adjustments 2,903 5,470
Provision for inventory obsolescence and other inventory losses, net of recoveries 102 108
Stock-based compensation expense 4,107 3,451
Deferred tax assets 662 1,454
Changes in operating assets and liabilities:    
Accounts receivable (12,369) (18,436)
Inventories (2,154) (4,980)
Deferred cost of revenue 13 (106)
Income tax receivable (1,062) 930
Prepaid expenses and other current assets (157) (1,493)
Accounts payable and accrued expenses 8,466 6,383
Accrued payroll (1,551) (743)
Warranty reserve 1,171 1,048
Deferred revenue 2,228 1,415
Income tax payable (61) (11)
Other noncurrent liabilities (34) 3
Net cash provided by operating activities 30,111 16,797
Cash flows from investing activities    
Purchases of available-for-sale investments (22,725) (14,857)
Maturities of available-for-sale investments 14,318 18,054
Investment in property and equipment (969) (1,226)
Production and purchase of rental equipment (1,834) (2,957)
Proceeds from sale of former assets 91 298
Payment for acquisition, net of cash acquired (4,442)  
Net cash used in investing activities (15,561) (688)
Cash flows from financing activities    
Proceeds from stock options exercised 6,730 1,992
Proceeds from employee stock purchases 581 500
Repayment of debt from investment in intangible assets   (156)
Net cash provided by financing activities 7,311 2,336
Effect of exchange rates on cash (1) (51)
Net increase in cash and cash equivalents 21,860 18,394
Cash and cash equivalents, beginning of period 92,851 66,106
Cash and cash equivalents, end of period 114,711 84,500
Supplemental disclosures of cash flow information    
Cash paid during the period for interest   7
Cash paid (received) during the period for income taxes, net of refunds received 1,070 $ (927)
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 153