| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net income | ||||||||||
17,934 | 22,943 | 17,177 | 10,590 | 7,758 | 3,915 | 3,202 | 2,571 | 2,143 | 6,013 | 1,598 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
5,416 | 4,324 | 4,055 | 3,591 | 3,394 | 3,334 | 2,793 | 2,234 | 2,037 | 1,376 | 1,419 |
Stock-based compensation | ||||||||||
2,642 | 2,349 | 2,256 | 1,680 | 1,424 | 1,302 | 1,253 | 1,213 | 1,097 | 967 | 985 |
Fair value adjustment to contingent consideration obligations | ||||||||||
171 | -29 | 106 | - | - | 138 | 57 | - | - | - | - |
Accrued contingent earnout | ||||||||||
- | - | - | - | - | - | - | - | 0 | - | - |
Amortization of premium on marketable securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | 46 |
Loss on sales of marketable securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | -34 |
Impairment charges | ||||||||||
- | - | - | - | - | 229 | - | - | 83 | 485 | 106 |
Provision for doubtful accounts | ||||||||||
388 | 264 | 230 | 105 | 182 | 54 | -29 | 153 | 56 | 55 | 75 |
Provision for inventory write-downs | ||||||||||
747 | 671 | 396 | 362 | 462 | 667 | 479 | 863 | 1,011 | 836 | 428 |
Provision (benefit) for deferred income taxes | ||||||||||
824 | -2,152 | 300 | 140 | -384 | -72 | 287 | 287 | 1,159 | -2,380 | 226 |
Gain on acquisitions and divestitures | ||||||||||
- | 7,474 | - | - | 360 | - | - | 248 | 735 | - | - |
Gain on termination of distribution agreement | ||||||||||
- | - | - | - | - | - | - | - | - | - | 0 |
Excess tax benefits from stock-based compensation awards | ||||||||||
- | - | - | - | 454 | 225 | 31 | 23 | 50 | 70 | - |
Loss on disposal of property and equipment | ||||||||||
- | - | - | - | -5 | -8 | -52 | -8 | -30 | -51 | -17 |
Non cash restructuring charges | ||||||||||
- | - | - | - | - | - | - | - | -732 | -108 | 0 |
Foreign currency transaction loss | ||||||||||
57 | -259 | 29 | -59 | -100 | -60 | -115 | -369 | 156 | -37 | -63 |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
1,301 | 1,283 | 1,507 | 922 | 1,879 | 654 | 1,247 | 640 | 174 | 972 | 486 |
Inventory and other deferred costs | ||||||||||
11,335 | 4,262 | 1,352 | 134 | -608 | 2,711 | 2,168 | 3,725 | 998 | 1,735 | -164 |
Prepaid expenses and other assets | ||||||||||
654 | 418 | 288 | -1,528 | 2,035 | -553 | 236 | -303 | -105 | 846 | -610 |
Accounts payable and other liabilities | ||||||||||
-596 | 4,314 | 1,524 | -103 | 2,617 | -1,086 | 861 | 1,357 | -3,170 | 3,127 | 155 |
Net cash provided by (used in) operating activities | ||||||||||
14,179 | 19,506 | 22,868 | 16,896 | 11,438 | 5,512 | 5,388 | 4,722 | 3,170 | 7,052 | 5,440 |
Purchases of property and equipment and other assets | ||||||||||
3,761 | 3,054 | 6,417 | 2,841 | 2,273 | 1,174 | 2,733 | 1,209 | 2,021 | 2,471 | 577 |
Purchases of short-term marketable securities | ||||||||||
22,699 | 19,619 | 22,541 | - | - | - | - | - | - | - | - |
Payments related to acquisitions | ||||||||||
21,240 | 12,282 | - | 14,368 | 1,565 | 6,559 | 3,291 | 4,373 | 1,151 | 3,520 | 759 |
Proceeds from sales of marketable securities | ||||||||||
23,600 | 20,500 | - | - | - | - | - | - | - | - | - |
Proceeds from divestitures | ||||||||||
- | 7,400 | - | - | 360 | - | - | 500 | 1,414 | 40 | - |
Proceeds from sale of property and equipment | ||||||||||
- | - | - | - | 15 | - | - | - | - | - | - |
Purchase of intellectual property | ||||||||||
- | - | - | 2 | 17 | 15 | 164 | 116 | 64 | 87 | - |
Sales and maturities of marketable securities | ||||||||||
- | - | - | - | - | - | - | - | - | 803 | 4,566 |
Purchase of technology and licenses | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,048 |
Net cash used in investing activities | ||||||||||
-24,100 | -7,055 | -28,958 | -17,211 | -3,480 | -7,748 | -6,188 | -5,198 | -1,822 | -5,235 | 2,182 |
Financing activities | ||||||||||
Payments of deferred acquisition consideration | ||||||||||
2,059 | 1,199 | 463 | 385 | 1,100 | 745 | - | - | - | - | - |
Proceeds from Italian government loan | ||||||||||
- | - | - | - | - | - | - | - | - | - | 108 |
Payments of long-term debt | ||||||||||
- | - | - | - | - | 1,133 | - | - | 469 | 21 | - |
Proceeds from issuance of common stock | ||||||||||
4,856 | 2,969 | 5,500 | 1,442 | 4,836 | 10,834 | 1,219 | 359 | 69 | 132 | 202 |
Purchase of treasury stock | ||||||||||
683 | 741 | 778 | 311 | 266 | 211 | 373 | 2,021 | 2,213 | 2,516 | 686 |
Common stock cash dividend paid | ||||||||||
6,736 | 5,445 | 4,179 | 3,323 | 2,845 | 2,308 | 1,838 | 1,518 | 1,237 | - | - |
Excess tax benefits from stock-based compensation awards | ||||||||||
- | - | - | - | 454 | 225 | 31 | 23 | 50 | 70 | - |
Net cash provided by (used in) financing activities | ||||||||||
-4,622 | -4,416 | 80 | -2,577 | 1,079 | 6,662 | -961 | -3,157 | -3,800 | -2,335 | -376 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
11 | -813 | 818 | -271 | -278 | -445 | 24 | -51 | -30 | -60 | 51 |
Net increase (decrease) in cash and cash equivalents | ||||||||||
-14,532 | 7,222 | -5,192 | -3,163 | 8,759 | 3,981 | -1,737 | -3,684 | -2,482 | -578 | 7,297 |
Supplemental disclosures of cash flow information (see Note 12) | ||||||||||