| Mar'19 | 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 | |||||||||
46,703 | 35,695 | 29,479 | 28,525 | 28,590 | 34,392 | 26,730 | 26,552 | 24,663 | 26,096 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
22,984 | 21,775 | 20,948 | 19,952 | 17,995 | 16,411 | 15,739 | 14,723 | 12,249 | 11,988 |
Loss on write down or disposal of property, capitalized software or investment | |||||||||
-306 | -1,199 | -733 | -286 | -285 | -78 | -412 | -210 | -153 | -53 |
Stock compensation expense | |||||||||
4,349 | 3,164 | 2,432 | 2,192 | 2,209 | 2,140 | 997 | 2,276 | 2,544 | 2,102 |
(Recovery) provision for doubtful accounts | |||||||||
1,875 | 2,559 | 2,335 | 1,357 | 1,730 | 1,332 | 2,123 | 2,146 | 2,437 | 2,868 |
Deferred income tax | |||||||||
1,456 | -874 | -1,220 | -1,656 | 304 | -2,519 | 2,276 | 9,051 | 624 | 308 |
Changes in operating assets and liabilities | |||||||||
Accounts receivable | |||||||||
8,271 | 4,658 | 5,429 | 3,567 | 2,038 | 9,456 | 1,894 | 2,516 | 7,419 | 5,549 |
Customer deposits | |||||||||
-9,772 | -3,025 | -6,822 | -8,331 | -1,176 | -6,035 | -4,291 | -537 | -3,588 | -227 |
Prepaid taxes and expenses | |||||||||
66 | 2,166 | 11 | -6,742 | 5,813 | -1,556 | -4,845 | 5,846 | -4 | 1,578 |
Other assets | |||||||||
-145 | -545 | 29 | 516 | 18 | -159 | 111 | 311 | -298 | 245 |
Accounts and taxes payable | |||||||||
-1,975 | -3,130 | 3,350 | -2,537 | -2,695 | 2,535 | 814 | -1,817 | 85 | 4,058 |
Accrued liabilities | |||||||||
20,905 | 11,068 | 6,286 | 8,864 | 4,943 | 14,207 | 7,179 | -8,259 | 13,012 | 6,302 |
Net cash provided by operating activities | |||||||||
78,639 | 62,152 | 52,052 | 51,311 | 44,316 | 54,800 | 54,819 | 35,672 | 45,062 | 38,060 |
Investment in private equity | |||||||||
0 | 0 | -34 | 600 | 1,400 | 0 | - | - | - | - |
Acquisition of business, net of cash acquired | |||||||||
- | - | - | - | - | - | - | 45 | 1,235 | 600 |
Purchase of property and equipment | |||||||||
15,274 | 27,689 | 31,041 | 16,756 | 22,868 | 18,344 | 14,887 | 23,214 | 18,504 | 11,668 |
Net cash used in investing activities | |||||||||
-15,274 | -27,689 | -31,007 | -17,356 | -24,268 | -18,344 | -14,887 | -23,259 | -19,739 | -12,268 |
Cash Flows from Financing Activities | |||||||||
Purchase of treasury stock | |||||||||
35,167 | 11,187 | 27,999 | 31,525 | 31,798 | 27,179 | 30,727 | 21,643 | 30,608 | 32,561 |
Exercise of common stock options | |||||||||
7,241 | 3,426 | 2,367 | 3,749 | 1,603 | 3,386 | 3,399 | 2,241 | 4,728 | 2,732 |
Tax effect of stock option exercises | |||||||||
- | - | - | 713 | 397 | 2,035 | 308 | 996 | 2,267 | 729 |
Exercise of employee stock purchase options | |||||||||
503 | 458 | 419 | 371 | 400 | 346 | 313 | 321 | 317 | 333 |
Net cash used in financing activities | |||||||||
-27,423 | -7,303 | -25,213 | -26,692 | -29,398 | -21,412 | -26,707 | -18,085 | -23,296 | -28,767 |
(Decrease)/increase in cash and cash equivalents | |||||||||
35,942 | 27,160 | -4,168 | 7,263 | -9,350 | 15,044 | 13,225 | -5,672 | 2,027 | -2,975 |
Supplemental Cash Flow Information: | |||||||||
Income taxes paid | |||||||||
12,854 | 16,229 | 18,321 | 13,589 | 19,528 | 20,791 | 9,663 | 12,935 | 13,740 | 17,275 |
Accrual of legal settlement | |||||||||
- | - | - | - | - | - | - | - | 11,100 | - |
Purchase of software license under finance agreement | |||||||||
0 | 1,746 | 3,492 | 3,249 | 0 | 2,343 | - | 0 | 1,700 | - |
Tenant improvement allowance | |||||||||
0 | 0 | 1,224 | 0 | 3,100 | 0 | - | - | - | - |
Acquisition earnout | |||||||||
- | - | - | - | - | - | - | - | - | 500 |