| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Net income (loss) | ||||||
-8,021 | 8,349 | 4,023 | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Depreciation of property and equipment in operating expenses | ||||||
8,462 | 5,236 | 3,273 | ||||
Depreciation of property and equipment in cost of revenue | ||||||
1,465 | 878 | 338 | ||||
Amortization of finite-life intangibles | ||||||
26,445 | 22,456 | 20,247 | ||||
Deferred income taxes | ||||||
-8,011 | -4,065 | -2,917 | ||||
Amortization of debt issuance costs | ||||||
2,596 | 2,412 | 2,028 | ||||
Loss on extinguishment of debt | ||||||
-13,638 | -2,747 | - | ||||
Stock-based compensation expense | ||||||
1,287 | 1,057 | 233 | ||||
Other | ||||||
-2,383 | -17 | -97 | ||||
Changes in assets and liabilities, net of business acquisitions | ||||||
Trade accounts receivable | ||||||
38,661 | 5,536 | 32,145 | ||||
Inventories | ||||||
-9,913 | 780 | 3,665 | ||||
Prepaid expenses, deferred customer support contract costs and other | ||||||
3,576 | 1,490 | 7,652 | ||||
Income tax receivable | ||||||
11,408 | -17 | -4,419 | ||||
Accounts payable and accrued expenses | ||||||
-7,558 | -11,112 | 12,928 | ||||
Customer deposits | ||||||
-1,090 | 920 | -2,384 | ||||
Income tax payable | ||||||
-4,253 | -257 | 5,301 | ||||
Deferred revenue and other long-term liabilities | ||||||
9,865 | 2,007 | 10,346 | ||||
Net cash provided by (used in) operating activities | ||||||
-6,524 | 22,856 | 14,470 | ||||
Cash Flows from Investing Activities | ||||||
Purchases of property and equipment | ||||||
9,514 | 9,272 | 5,476 | ||||
Acquisition of business, net of cash acquired | ||||||
142,925 | -247 | 67,047 | ||||
Net cash used in investing activities | ||||||
-152,439 | -9,025 | -72,523 | ||||
Cash Flows from Financing Activities | ||||||
Proceeds from revolving credit agreement | ||||||
114,000 | 42,000 | 20,000 | ||||
Repayment of revolving credit agreement | ||||||
94,000 | 52,000 | 10,000 | ||||
Proceeds from term notes, less discount | ||||||
569,988 | 88,650 | 49,750 | ||||
Payment on long-term debt | ||||||
416,814 | 2,634 | 2,279 | ||||
Payment of deferred financing costs | ||||||
- | 224 | - | ||||
Payment of deferred financing costs | ||||||
6,630 | 3,966 | 1,168 | ||||
Payment of extinguishment charges | ||||||
3,353 | 1,470 | - | ||||
Dividends paid | ||||||
- | 89,862 | - | ||||
Repurchase of common stock | ||||||
385 | - | 25 | ||||
Proceeds received from stock option exercises | ||||||
- | - | 20 | ||||
Net cash provided by financing activities | ||||||
162,806 | -19,506 | 56,298 | ||||
Net decrease in cash | ||||||
3,843 | -5,675 | -1,755 | ||||
Supplemental disclosures of cash flow information | ||||||
Interest paid | ||||||
37,035 | 27,650 | 20,870 | ||||
Income taxes paid | ||||||
4,343 | 11,017 | 2,812 | ||||
Supplemental disclosures of noncash investing and financing activities | ||||||
Deferred offering costs in accounts payable and accrued expenses | ||||||
- | 1,615 | - | ||||
Deferred financing costs in accounts payable and accrued expenses | ||||||
- | 363 | - | ||||
Property and equipment purchases financed with accounts payable | ||||||
123 | 235 | 170 | ||||
Stock option exercise with promissory note | ||||||
1,805 | - | - | ||||