| Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net income | ||||||||
27,177 | 32,716 | 31,630 | 27,331 | 14,185 | 27,459 | 13,091 | 14,537 | 13,023 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
8,006 | 7,340 | 6,697 | 8,486 | 7,427 | 6,298 | 5,090 | 4,562 | 4,935 |
Investment premium amortization, net | ||||||||
-1,092 | -666 | -1,180 | -635 | -530 | -827 | -986 | -526 | -211 |
Gain on sale of discontinued operations, net of tax | ||||||||
0 | 0 | 559 | 7,682 | 0 | 0 | - | - | - |
Net loss on disposals of property and equipment | ||||||||
-102 | -115 | -103 | -8 | -20 | -76 | -13 | -16 | -104 |
Impairment loss of intangible assets | ||||||||
0 | 0 | 13 | 0 | 0 | - | - | - | - |
Foreign exchange (gain) loss | ||||||||
996 | -627 | 149 | -1,794 | 477 | -401 | -144 | - | - |
Net (gain) loss on foreign exchange translation | ||||||||
- | - | - | - | - | - | - | 275 | -60 |
Share-based compensation expense | ||||||||
13,661 | 11,079 | 11,100 | 9,787 | 7,643 | 7,086 | 5,683 | 4,844 | 5,337 |
Excess tax benefits from share-based awards | ||||||||
0 | 330 | 1,621 | 961 | 2,164 | 2,683 | 862 | 2,260 | -2,096 |
Deferred income taxes | ||||||||
2,110 | -1,319 | 1,317 | -3,954 | -785 | -1,307 | 673 | 2,087 | 1,245 |
Equity in net (income) loss of unconsolidated affiliates | ||||||||
-254 | -184 | 22 | 37 | 33 | -13 | -143 | -31 | - |
Gain on sale of equity method investment | ||||||||
1,181 | 6,053 | 0 | 0 | - | - | - | - | - |
Changes in assets and liabilities: | ||||||||
Equity in net loss of unconsolidated affiliate | ||||||||
- | - | - | - | - | - | - | - | 0 |
Receivables, net | ||||||||
7,470 | 4,564 | 4,914 | 1,306 | -11,171 | 9,418 | 2,827 | 4,132 | 1,833 |
Inventories | ||||||||
8,181 | 8,184 | -74 | 10,135 | 2,491 | 8,081 | 1,236 | 1,846 | 5,068 |
Prepaid expenses and other current assets | ||||||||
228 | -1,386 | 1,912 | -787 | -2,962 | -4,269 | 1,199 | 156 | 585 |
Other assets | ||||||||
1,791 | 5,674 | 1,829 | 55 | -21 | 9 | -44 | 55 | 52 |
Accounts payable | ||||||||
4,206 | 238 | -443 | 116 | -2,018 | 1,746 | 232 | -3,248 | 5,436 |
Accrued payroll and related expenses | ||||||||
1,674 | 1,257 | -3,081 | 6,776 | -1,626 | -67 | 208 | 514 | 1,917 |
Accrued taxes | ||||||||
-744 | 760 | -4,065 | -1,294 | 690 | 610 | -276 | 582 | 884 |
Other liabilities | ||||||||
5,428 | 2,757 | -4,848 | 5,514 | -98 | 935 | - | - | - |
Other accrued liabilities | ||||||||
- | - | - | - | - | - | 299 | 336 | 140 |
Deferred rent | ||||||||
- | - | - | - | - | - | 225 | 253 | 26 |
Deferred revenue | ||||||||
-535 | -999 | -667 | -702 | 131 | 1,504 | 918 | 174 | -58 |
Warranty reserve | ||||||||
- | - | - | 1,288 | 484 | -462 | 624 | - | - |
Warranty reserve | ||||||||
932 | 1,150 | 52 | - | - | - | - | - | - |
Warranty reserve | ||||||||
- | - | - | - | - | - | - | -121 | -954 |
Net cash provided by operating activities | ||||||||
43,516 | 33,152 | 28,056 | 36,396 | 35,572 | 29,197 | 21,973 | 16,369 | 22,672 |
Cash flows from investing activities: | ||||||||
Purchases of available-for-sale investments | ||||||||
109,448 | 4,401 | 2,731 | 0 | 4,384 | 0 | 8,268 | 0 | 3,030 |
Purchases of held-to-maturity investments | ||||||||
50,132 | 52,513 | 61,049 | 36,804 | 27,798 | 18,337 | 18,174 | 62,686 | 70,562 |
Proceeds from maturities and redemptions of available-for-sale investments | ||||||||
39,460 | 4,300 | 0 | 6,498 | 1,023 | 249 | 0 | 0 | 3,000 |
Proceeds from maturities and redemptions of held-to-maturity investments | ||||||||
52,798 | 42,140 | 48,959 | 26,969 | 23,311 | 22,067 | 42,584 | - | - |
Proceeds from maturities and redemptions of held-to-maturity investments | ||||||||
- | - | - | - | - | - | - | 68,604 | 27,381 |
Purchases of property and equipment | ||||||||
6,046 | 10,171 | 5,185 | 6,077 | 5,554 | 5,640 | 7,663 | 6,926 | 3,413 |
Proceeds from disposals of property and equipment | ||||||||
- | - | - | 25 | 44 | 4 | 0 | 0 | - |
Acquisitions, net of cash acquired | ||||||||
0 | 785 | 1,131 | 618 | 0 | 0 | - | - | - |
Cash paid for investment in unconsolidated affiliate | ||||||||
1,250 | 2,999 | 0 | 0 | - | - | - | - | - |
Proceeds from sale of equity method investment | ||||||||
1,181 | 8,526 | 0 | 0 | - | - | - | - | - |
Proceeds from sale of discontinued operations | ||||||||
0 | 0 | 900 | 20,100 | 0 | 0 | - | - | - |
Cash paid for investment in unconsolidated affiliate | ||||||||
- | - | - | - | - | - | - | 2,800 | 0 |
Net cash used in investing activities | ||||||||
-73,437 | -15,903 | -20,237 | 10,093 | -13,358 | -1,657 | 8,479 | -3,808 | -46,624 |
Cash flows from financing activities: | ||||||||
Proceeds from notes payable from municipal agency | ||||||||
- | - | - | - | - | - | 147 | 853 | 0 |
Proceeds from the exercise of stock options | ||||||||
- | - | - | 31 | 1,455 | 2,800 | 615 | 1,684 | 915 |
Tax withholdings related to net share settlements of restricted stock units | ||||||||
2,590 | 2,234 | 5,250 | 3,026 | 4,683 | 1,625 | 2,211 | 2,013 | 446 |
Excess tax benefits from share-based awards | ||||||||
0 | 330 | 1,621 | 961 | 2,164 | 2,683 | 862 | 2,260 | 2,096 |
Repurchases of common stock | ||||||||
0 | 0 | 13,040 | 0 | 2,981 | 0 | 27,328 | 0 | 0 |
Proceeds from the exercise of warrants | ||||||||
0 | 0 | 12 | 78 | 0 | 0 | - | - | - |
Dividends paid | ||||||||
13,611 | 11,715 | 9,970 | 9,006 | 0 | 22,023 | 0 | 0 | - |
Net cash used in financing activities | ||||||||
-16,201 | -13,619 | -26,627 | -10,962 | -4,045 | -18,165 | -27,915 | 2,784 | 2,565 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||
1,067 | -621 | 116 | -2,101 | 510 | -308 | -165 | 269 | 7 |
Net increase (decrease) in cash and cash equivalents | ||||||||
-45,055 | 3,009 | -18,692 | 33,426 | 18,679 | 9,067 | 2,372 | 15,614 | -21,380 |
Supplemental disclosure of cash flow information: | ||||||||
Cash paid for income taxes, net of refunds | ||||||||
14,498 | 16,901 | 19,927 | 15,888 | 4,943 | 12,330 | 6,161 | 6,194 | -6,349 |
Supplemental disclosure of non-cash flow information: | ||||||||
Change in unrealized gain (loss) on investments, net of tax | ||||||||
-165 | -5 | 1 | -3 | -47 | 17 | 25 | 0 | - |
Change in unrealized gain on investments, net of tax | ||||||||
- | - | - | - | - | - | - | - | 0 |
Transfers of equipment between inventory and property and equipment, net | ||||||||
3,067 | 4,549 | 987 | 2,295 | 2,285 | 904 | 1,485 | 1,112 | 1,797 |
Net change in capitalized share-based compensation | ||||||||
-3 | 47 | 14 | -29 | -14 | 12 | 32 | 13 | - |
Common stock withheld for employee taxes in connection with share-based compensation | ||||||||
2,590 | 2,234 | 5,250 | 3,026 | 4,683 | 1,625 | 2,211 | - | - |
Common stock withheld for employee taxes in connection with share-based compensation | ||||||||
- | - | - | - | - | - | - | 2,013 | - |
Net change in capitalized share-based compensation | ||||||||
- | - | - | - | - | - | - | - | 61 |
Common stock withheld for employee taxes in connection with share-based compensation | ||||||||
- | - | - | - | - | - | - | - | 446 |
Repayment of notes payable by credits from municipal agency | ||||||||
101 | 101 | 101 | 101 | 101 | 101 | 95 | 22 | 0 |
Settlement of preexisting business relationship in connection with acquisition | ||||||||
- | - | - | 931 | 0 | 0 | - | - | - |
Installment payment obligation accrued related to acquisition | ||||||||
- | - | - | 2,336 | 0 | 0 | - | - | - |
Warrants issued for intangible assets | ||||||||
- | - | - | - | - | - | 388 | 249 | 0 |