| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Net income | ||||||||
45,055 | 10,430 | -1,325 | -9,955 | -14,253 | -133,783 | -49,441 | -15,950 | -35,765 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization expense | ||||||||
20,765 | 21,548 | 21,238 | 22,479 | 22,414 | 30,898 | 35,023 | 37,665 | 27,250 |
Gain on derivative instruments | ||||||||
- | - | - | - | - | - | - | 992 | 1,390 |
Change in fair value of contingent value rights obligation | ||||||||
- | - | - | - | -74 | -915 | -1,308 | 1,124 | - |
Michigan tax refund received | ||||||||
- | - | - | - | -12,342 | - | - | - | - |
Issuance of subscription rights | ||||||||
- | - | - | - | - | - | - | - | -2,222 |
Deferred income taxes | ||||||||
-30,614 | 0 | -13 | -21 | -102 | -156 | -534 | -1,063 | -7,975 |
Gain on sale of IntelliTools product line | ||||||||
- | - | - | 289 | - | - | - | - | - |
Non-cash (gain) loss on disposal of assets | ||||||||
- | - | 524 | -93 | -105 | -71 | - | -89 | -2 |
Goodwill impairment | ||||||||
4,325 | 0 | - | - | - | 66,893 | 37,618 | - | 9,105 |
Impairment of long-lived assets | ||||||||
- | - | - | - | 2,227 | 33,707 | - | - | - |
Loss on extinguishment of debt | ||||||||
-360 | -698 | -4,016 | -922 | - | - | - | - | - |
Non-cash paid-in-kind interest | ||||||||
- | - | - | - | - | - | - | 2,124 | 2,309 |
Amortization of note discount and deferred financing costs | ||||||||
790 | 1,091 | 1,226 | 1,509 | 1,743 | 1,747 | 1,518 | - | - |
Loss from recovery of property held for sale | ||||||||
- | - | - | - | -122 | -958 | 2,727 | - | - |
Proceeds from sale of recovered properties | ||||||||
- | - | - | - | 258 | 1,389 | - | - | - |
Stock-based compensation and expense | ||||||||
865 | 928 | 687 | 511 | 890 | 874 | 1,288 | 1,085 | 37 |
Other | ||||||||
-2 | 3 | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable, net | ||||||||
-452 | -1,262 | 336 | -1,463 | -2,314 | 4,328 | -18,142 | 12,500 | -2,306 |
Inventory | ||||||||
-482 | -1,830 | -643 | -3,626 | -7,399 | -4,941 | -454 | 2,203 | -4,725 |
Other current assets | ||||||||
-50 | 1,254 | 2,391 | 1,285 | 690 | 13,254 | 717 | -2,073 | -3,022 |
Other assets | ||||||||
373 | -1,116 | -1,359 | 1,538 | 810 | -11,252 | 374 | 12,970 | -1,579 |
Restricted assets | ||||||||
-1,012 | -1,098 | -1,133 | -1,338 | -4,306 | -1,334 | -3,230 | -8,980 | 7,948 |
Accounts payable | ||||||||
216 | 179 | 381 | 311 | -1,706 | -17 | -3,441 | 4,157 | -1,812 |
Accrued expenses | ||||||||
276 | -2,504 | -2,808 | -4,648 | 889 | -673 | -1,727 | -40 | 4,980 |
Deferred revenue | ||||||||
6,195 | 9,125 | 14,391 | 9,876 | 9,301 | 8,317 | 5,291 | 13,375 | 497 |
Other long-term liabilities | ||||||||
-651 | -1,071 | -904 | -749 | -1,037 | -756 | -1,271 | -1,447 | -1,115 |
Other, net | ||||||||
- | - | - | - | - | - | - | - | -95 |
Net cash provided by operating activities | ||||||||
49,203 | 44,479 | 36,773 | 23,643 | 45,786 | 10,329 | 43,640 | 21,259 | 1,934 |
Investing activities: | ||||||||
Cash paid for acquisition, net of cash acquired | ||||||||
1,044 | 0 | 400 | 3,600 | - | - | 6,412 | 1,106 | 9,697 |
Cash paid for contingent value rights obligation related to acquisition | ||||||||
- | - | - | - | 7,673 | - | - | - | - |
Proceeds from sale of IntelliTools product line | ||||||||
- | - | - | 806 | - | - | - | - | - |
Proceeds from sale of property, equipment, and software | ||||||||
- | - | - | - | - | 264 | - | - | - |
Expenditures for property, equipment, software and pre-publication costs | ||||||||
18,160 | 20,054 | 19,937 | 17,875 | 16,115 | 18,145 | 14,053 | 13,335 | 3,395 |
Net cash used in investing activities | ||||||||
-19,204 | -20,054 | -20,337 | -20,669 | -23,788 | -17,881 | -20,465 | -14,441 | -13,092 |
Financing activities: | ||||||||
Proceeds from issuance of long-term debt | ||||||||
- | - | 103,114 | - | - | - | 174,024 | - | - |
Repayment of debt | ||||||||
27,650 | 28,850 | 140,000 | 35,008 | - | - | 152,130 | 1,761 | 5,585 |
Borrowings under revolving credit facility | ||||||||
16,000 | 15,000 | 175 | - | - | - | - | 19,000 | 10,000 |
Payments of revolving credit facility | ||||||||
16,000 | 15,000 | 175 | - | - | - | - | 24,000 | 10,000 |
Debt issuance costs | ||||||||
- | - | 2,346 | - | - | - | 7,984 | 1,098 | - |
Payments related to extinguishment of debt | ||||||||
- | - | 2,520 | - | - | - | - | - | - |
Principal payments under capital lease obligations | ||||||||
- | - | 802 | 995 | 1,290 | 1,138 | 794 | 443 | 289 |
Proceeds from exercise of stock options | ||||||||
1,214 | 710 | 376 | 53 | - | - | - | - | - |
Proceeds from capital contributions | ||||||||
- | - | - | - | - | - | - | -30 | 2,959 |
Share repurchases | ||||||||
- | - | - | 630 | 4,619 | 2,597 | 4,931 | - | - |
Proceeds from issuance of common stock in connection with the merger | ||||||||
- | - | - | - | - | - | - | - | 25,000 |
Proceeds from issuance of common stock for subscription rights | ||||||||
- | - | - | - | - | - | 20,000 | - | - |
Net cash used in financing activities | ||||||||
-26,436 | -28,140 | -42,178 | -36,580 | -5,909 | -3,735 | 28,185 | -8,332 | 22,085 |
Change in cash and cash equivalents | ||||||||
3,563 | -3,715 | -25,742 | -33,606 | 16,089 | -11,287 | 51,360 | -1,514 | 10,927 |
Net income taxes paid | ||||||||
1,136 | 822 | 552 | 173 | 93 | 459 | 60 | 15 | -3,080 |
Interest paid | ||||||||
4,164 | 6,359 | 18,334 | 17,505 | 17,288 | 17,431 | 12,453 | 15,228 | 16,936 |
Non-cash acquisition costs paid | ||||||||
- | - | - | - | - | - | - | - | 86,546 |
Assets recovered-property held for sale | ||||||||
- | - | - | - | - | - | 2,727 | - | - |
Acquisition of software through capital leases | ||||||||
- | - | - | - | - | - | 1,219 | - | - |