| Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 |
|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||
Net income | ||||||||
26,879 | 23,838 | 20,562 | 15,059 | 9,612 | 15,996 | 12,026 | 11,539 | 14,350 |
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||
Depreciation | ||||||||
4,101 | 3,628 | 3,377 | 3,295 | 3,396 | 2,877 | 2,462 | 2,420 | 1,870 |
Amortization of intangible assets | ||||||||
33,477 | 30,001 | 26,222 | 21,715 | 17,999 | 14,202 | 11,996 | 11,471 | 6,929 |
Write-off of redundant assets (Note 8) | ||||||||
- | - | - | - | - | - | - | 417 | - |
Amortization of unearned compensation | ||||||||
- | - | - | - | - | - | 11 | 8 | 38 |
Stock-based compensation expense (Note 16) | ||||||||
2,807 | 2,022 | 1,577 | 1,543 | 2,523 | 1,278 | 1,213 | 1,076 | 3,371 |
Other non-cash operating activities | ||||||||
784 | 1,028 | 392 | 0 | - | - | - | - | - |
Gain on sale of investment in affiliate (Note 7) | ||||||||
- | - | - | - | - | - | - | 20 | - |
Loss from investment in affiliate (Note 7) | ||||||||
- | - | - | - | - | - | - | -19 | - |
Deferred tax expense | ||||||||
1,297 | 3,640 | 5,765 | 3,978 | 2,353 | - | 1,926 | -3,883 | -8,480 |
Deferred tax charge | ||||||||
-31 | 358 | 22 | 0 | - | - | - | - | - |
Accounts receivable | ||||||||
Deferred tax expense | ||||||||
- | - | - | - | - | -657 | - | - | - |
Deferred tax charge | ||||||||
- | - | - | - | - | - | - | 196 | 197 |
Trade | ||||||||
1,963 | -2,727 | -764 | -3,999 | -3,650 | 1,697 | 460 | -2,748 | -788 |
Other | ||||||||
-16 | 212 | -203 | -4,869 | -2,164 | 183 | 822 | -106 | -219 |
Prepaid expenses and other | ||||||||
1,772 | 64 | 86 | -141 | -91 | 379 | 619 | -51 | -364 |
Inventory | ||||||||
-52 | -2 | -314 | -859 | 535 | 343 | -75 | - | - |
Accounts payable | ||||||||
1,428 | -317 | -412 | -3,121 | 146 | 873 | -1,065 | -275 | 478 |
Accrued liabilities | ||||||||
-592 | 3,674 | 25 | -294 | 2,051 | -736 | -1,682 | -3,088 | -3,253 |
Income taxes payable | ||||||||
6,326 | 1,431 | -1,690 | -73 | 596 | 451 | 99 | -1,733 | 1,665 |
Deferred revenue | ||||||||
902 | 2,883 | -2,008 | -2,492 | -1,432 | -1,342 | -1,430 | -1,163 | -2,001 |
Cash provided by operating activities | ||||||||
72,143 | 72,583 | 54,243 | 49,478 | 42,614 | 30,340 | 23,926 | 19,889 | 16,535 |
INVESTING ACTIVITIES | ||||||||
Purchase of marketable securities | ||||||||
0 | 241 | 4,667 | 0 | - | - | - | - | - |
Sale of marketable securities | ||||||||
0 | 6,140 | 0 | 0 | - | - | - | - | - |
Maturities of short-term investments | ||||||||
- | - | - | - | - | - | - | 5,071 | 40,501 |
Purchase of short-term investments | ||||||||
- | - | - | - | - | - | - | - | 35,362 |
Additions to property and equipment | ||||||||
5,086 | 4,914 | 4,309 | 2,679 | 2,385 | 3,496 | 4,734 | 1,656 | 1,626 |
Proceeds from the sale of investment in affiliate (Note 7) | ||||||||
- | - | - | - | - | - | - | 487 | - |
Settlement of acquisition earn-out (Note 3) | ||||||||
- | - | - | - | - | 590 | - | - | - |
Acquisition of subsidiaries, net of cash acquired (Note 3) | ||||||||
111,867 | 71,348 | 120,853 | 82,152 | 58,737 | 54,155 | 21,281 | 44,989 | 14,964 |
Acquisition-related costs | ||||||||
- | - | - | - | - | - | - | - | 58 |
Cash used in investing activities | ||||||||
-116,953 | -70,363 | -129,829 | -84,831 | -61,122 | -58,241 | -26,015 | -41,087 | -11,509 |
FINANCING ACTIVITIES | ||||||||
Proceeds from borrowing on the credit facility | ||||||||
80,000 | 10,801 | 0 | 20,000 | 46,262 | - | - | - | - |
Credit facility repayments | ||||||||
43,000 | 10,200 | 0 | 63,305 | 3,722 | 77 | 4,342 | - | - |
Payment of debt issuance costs | ||||||||
0 | 957 | 0 | 386 | 692 | - | - | - | - |
Issuance of common shares for cash, net of issuance costs | ||||||||
1,003 | 145 | 158 | 140,724 | 3,633 | 704 | 1,775 | 1,133 | 40,293 |
Settlement of stock options (Note 16) | ||||||||
0 | 0 | -2,590 | -405 | -1,361 | -1,525 | - | - | - |
Repayment of other liabilities | ||||||||
- | - | - | - | - | - | - | 358 | - |
Cash provided by (used in) financing activities | ||||||||
38,003 | -211 | -2,432 | 96,628 | 44,120 | -898 | -2,567 | 775 | 40,293 |
Effect of foreign exchange rate changes on cash | ||||||||
3,817 | -1,087 | -2,822 | -5,927 | -545 | 890 | 559 | 513 | -3,187 |
(Decrease) increase in cash | ||||||||
-2,990 | 922 | -80,840 | 55,348 | 25,067 | -27,909 | -4,097 | -19,910 | 42,132 |
Supplemental disclosure of cash flow information: | ||||||||
Cash paid during the year for interest | ||||||||
680 | 64 | 31 | - | - | - | - | - | - |
Cash paid during the year for interest | ||||||||
- | - | - | 692 | 406 | 46 | 9 | 21 | - |
Cash paid during the year for income taxes | ||||||||
3,887 | 3,861 | 3,533 | 2,983 | 1,762 | 1,149 | 727 | - | - |
Cash paid during the year for income taxes | ||||||||
- | - | - | - | - | - | - | 1,319 | 709 |