| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net income | ||||||||
4,030 | 16,238 | 366 | -86 | 4,218 | -4,177 | - | - | - |
Net income (loss) | ||||||||
- | - | - | - | - | - | 7,164 | 12,015 | -3,294 |
Adjustments required to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
2,438 | 2,892 | 2,963 | 3,230 | 3,207 | 2,883 | 3,239 | 4,359 | 4,969 |
Amortization of marketable securities premiums and accretion of discounts, net | ||||||||
-570 | -1,000 | -1,094 | -820 | -349 | -436 | -416 | 0 | -252 |
Realized loss (gain) on sale of marketable securities, net | ||||||||
0 | 27 | -13 | - | - | - | - | - | - |
Realized loss (gain) on sale of marketable securities, net | ||||||||
- | - | - | 0 | 0 | - | - | - | - |
Equity in losses of an affiliated company, net of interest on loans to an affiliated company | ||||||||
- | - | - | - | -21 | -350 | - | - | - |
Equity in losses of affiliated companies, net and interest on loans to affiliate company | ||||||||
- | - | - | - | - | - | 277 | 213 | - |
Equity in losses of affiliated company, net | ||||||||
- | - | - | - | - | - | - | - | 76 |
Share-based compensation related to options and RSUs granted to employees and non-employees | ||||||||
2,307 | 2,414 | 2,373 | 2,546 | 1,701 | 1,529 | 2,323 | 1,370 | 1,991 |
Decrease in accrued interest on loans, marketable securities, convertible notes, and bank deposits | ||||||||
403 | 114 | 56 | 152 | 73 | 4 | -182 | -20 | - |
Amortization of senior convertible notes discount and deferred charges and gain from redemption | ||||||||
- | - | - | - | - | - | - | - | 2,930 |
Decrease (increase) in accrued interest on loans, marketable securities, bank deposits and structured notes | ||||||||
- | - | - | - | - | - | - | - | 2,312 |
Decrease (increase) in deferred income tax assets | ||||||||
-4,922 | 9,475 | -1,976 | -2,940 | 1,946 | -14 | 652 | 2,321 | 0 |
Decrease in trade receivables, net | ||||||||
-3,389 | -174 | -5,575 | 4,625 | 2,254 | -6,725 | 4,602 | 7,799 | -11,042 |
Decrease (increase) in other receivables and prepaid expenses | ||||||||
1,316 | -732 | -1,777 | 2,249 | -110 | -127 | 403 | 218 | -1,770 |
Decrease (increase) in inventories | ||||||||
230 | -445 | 2,013 | 925 | -2,986 | -3,618 | 4,136 | 3,963 | -6,245 |
Increase (decrease) in trade payables | ||||||||
-2,071 | 406 | -2,987 | 2,896 | 403 | -5,545 | -1,157 | 4,910 | -3,052 |
Increase (decrease) in other payables and accrued expenses and other liabilities | ||||||||
1,714 | -596 | 2,394 | -2,114 | 2,577 | -3,054 | -5,464 | 6,324 | -1,760 |
Increase in deferred revenues | ||||||||
1,640 | 3,195 | 3,758 | 3,595 | 3,138 | 270 | 1,978 | 1,851 | -1,731 |
Increase (decrease) in accrued severance pay, net | ||||||||
-31 | 830 | 218 | -223 | -495 | -184 | -86 | -319 | -776 |
Net cash provided by operating activities | ||||||||
- | - | - | 5,957 | 14,088 | 2,996 | - | - | - |
Net cash provided by operating activities | ||||||||
17,765 | 18,342 | 17,563 | - | - | - | -1,285 | 16,402 | 20,974 |
Cash flows from investing activities: | ||||||||
Net loans provided to an affiliated company | ||||||||
- | - | - | - | 1,211 | 183 | 211 | 0 | 341 |
Purchase of marketable securities | ||||||||
- | - | - | 60,286 | 0 | 0 | 24,402 | 0 | 0 |
Purchase of property and equipment | ||||||||
1,574 | 1,477 | 1,976 | 2,539 | 1,586 | 2,006 | 1,579 | 1,569 | 1,271 |
Proceeds from sale of marketable securities | ||||||||
0 | 12,429 | 2,557 | 0 | 0 | - | - | - | - |
Decrease in short-term and restricted bank deposits | ||||||||
662 | 2,260 | 1,969 | - | - | - | - | - | - |
Short-term and restricted bank deposits, net | ||||||||
- | - | - | 1,471 | 1,229 | 3,678 | -183 | 77 | 45,885 |
Proceeds from redemption of marketable securities upon maturity | ||||||||
8,116 | 3,215 | 2,711 | 15,390 | 7,600 | 0 | 0 | - | 16,000 |
Decrease (increase) in long-term bank deposits | ||||||||
-1,200 | 2,367 | -1,032 | -2,685 | - | - | - | - | - |
Proceeds from redemption of long-term bank deposits | ||||||||
- | - | - | - | 2,623 | 0 | - | - | - |
Purchase of intangible asset | ||||||||
- | - | - | 100 | 0 | 0 | - | - | - |
Net cash paid for acquisition of a subsidiary | ||||||||
0 | 0 | 1,960 | 0 | - | - | - | - | - |
Investment in long-term and restricted bank deposits | ||||||||
- | - | - | - | - | 131 | 9,120 | 0 | 0 |
Net cash provided by (used in) investing activities | ||||||||
- | - | - | -43,379 | 8,655 | 1,358 | - | - | - |
Net cash provided by investing activities | ||||||||
8,404 | 14,060 | 4,333 | - | - | - | -35,495 | -1,492 | 60,273 |
Cash flows from financing activities: | ||||||||
Purchase of treasury stock | ||||||||
25,563 | 29,394 | 19,523 | 5,267 | 0 | 6,917 | 3,812 | 0 | 0 |
Repayment of senior convertible notes | ||||||||
- | - | - | 338 | 0 | 0 | - | 50 | 73,147 |
Proceeds from long-term bank loans | ||||||||
- | - | - | - | - | - | 24,005 | 0 | 0 |
Repayment of long-term bank loans | ||||||||
3,504 | 5,353 | 4,685 | 4,686 | 8,436 | 10,242 | 6,600 | 6,000 | 6,000 |
Proceeds from bank loans | ||||||||
0 | 6,000 | 6,264 | 0 | 0 | - | - | - | - |
Contingent payment for acquisition of NSC non-controlling interest | ||||||||
- | - | - | - | 515 | 336 | 278 | 74 | 0 |
Payment related to the acquisition of Mailvision | ||||||||
0 | 233 | 233 | 233 | 0 | 0 | - | - | - |
Proceeds from issuance of shares in a public offering, net | ||||||||
- | - | - | 29,744 | 0 | 0 | - | - | - |
Proceeds from issuance of shares upon exercise of options and warrants | ||||||||
2,789 | 2,014 | 392 | 2,236 | 1,752 | 103 | 1,411 | 2,556 | 90 |
Net cash provided by (used in) financing activities | ||||||||
- | - | - | 21,456 | -7,199 | -17,392 | - | - | - |
Net cash used in financing activities | ||||||||
-26,278 | -26,966 | -17,785 | - | - | - | 14,726 | -3,568 | -79,057 |
Increase (decrease) in cash and cash equivalents | ||||||||
-109 | 5,436 | 4,111 | -15,966 | 15,544 | -13,038 | -22,054 | 11,342 | 2,190 |
Supplemental disclosure of cash flow activities: | ||||||||
Cash paid during the year for income taxes | ||||||||
741 | 612 | 301 | 658 | 429 | 313 | 848 | 261 | 363 |
Cash paid during the year for interest | ||||||||
297 | 363 | 329 | - | - | - | - | - | - |
Cash paid during the year for interest | ||||||||
- | - | - | 415 | 583 | 789 | 356 | 317 | 2,238 |
Net change in gain (loss) on foreign currency cash flow hedges and marketable securities | ||||||||
- | - | - | - | - | 1,543 | -1,062 | 724 | 1,010 |
Total commitment in respect of treasury stock purchasing | ||||||||
- | - | - | - | - | - | 197 | 0 | 0 |
Total commitment for future payments for NSC acquisition which reduced the Company's equity | ||||||||
- | - | - | - | - | - | - | 1,296 | 0 |
Total commitment in respect of treasury stock purchasing | ||||||||
- | - | - | - | - | - | - | 0 | 0 |
Conversion of employees stock purchase plan liability to equity upon issuance of shares | ||||||||
- | - | - | - | - | - | 294 | 0 | 0 |