| Dec'18 | 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 | |||||||||
22,773 | 2,595 | 17,660 | -18,258 | 5,465 | 8,129 | - | - | - | - |
Net income (loss) | |||||||||
- | - | - | - | - | - | 5,094 | 3,132 | 7,573 | 3,357 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
13,440 | 14,181 | 15,784 | 12,217 | 11,893 | 11,830 | - | - | - | - |
Equity income from unconsolidated affiliate | |||||||||
770 | 528 | - | 0 | - | - | - | - | - | - |
Distribution from equity method investee | |||||||||
294 | 237 | - | 0 | - | - | - | - | - | - |
Write-off of software work in process | |||||||||
- | - | 37 | 25,427 | 0 | 0 | - | - | - | - |
Depreciation and amortization | |||||||||
- | - | - | - | - | - | 12,496 | 10,044 | 8,157 | 5,597 |
Provision for deferred income taxes | |||||||||
-959 | 283 | 1,291 | -9,775 | 2,987 | 1,539 | 2,565 | 2,634 | 3,327 | 4,273 |
Net tax benefit related to stock option exercises | |||||||||
- | - | - | - | - | - | 1,387 | 1 | 96 | 309 |
Excess tax benefit related to stock option exercises | |||||||||
- | - | - | - | 293 | 291 | 193 | 668 | 31 | 289 |
Non-cash stock-based compensation | |||||||||
3,059 | 2,605 | 1,961 | 1,589 | 1,502 | 1,517 | 1,900 | 2,404 | 2,365 | 1,684 |
Decrease in earnout liability | |||||||||
- | - | - | - | - | - | 1,100 | 1,229 | - | - |
Impairment of indefinite-lived trademark | |||||||||
- | - | - | - | - | - | - | 800 | - | - |
Gain on sale of fixed assets | |||||||||
- | - | - | - | - | - | - | 7 | -14 | -22 |
Change in operating assets and liabilities: | |||||||||
Accounts receivable | |||||||||
23,829 | 67,997 | 18,274 | 126,981 | 3,545 | 5,999 | -1,584 | 18,988 | 21,516 | 12,921 |
Inventories | |||||||||
-41,854 | 31,252 | 24,831 | -1,663 | -66,267 | 48,019 | -10,514 | 14,889 | -4,981 | 719 |
Prepaid expenses and other current assets | |||||||||
-798 | -7,061 | -1,770 | 629 | 1,334 | 1,119 | 4,037 | -178 | 561 | 1,942 |
Other assets | |||||||||
7,937 | 333 | -1,020 | -837 | -855 | 3,913 | -315 | -217 | -324 | 24 |
Accounts payable | |||||||||
66,641 | 8,355 | 87,719 | 54,314 | -8,576 | 31,042 | -17,649 | -9,425 | 19,352 | -779 |
Accrued expenses and other current liabilities | |||||||||
18,253 | 3,868 | 12,948 | 6,317 | -2,593 | 2,161 | -1,370 | 2,033 | 2,351 | -2,672 |
Deferred revenue | |||||||||
53 | -3,853 | -572 | - | - | - | - | - | - | - |
Deferred revenue | |||||||||
- | - | - | 1,074 | 636 | 4,045 | 2,068 | 1,710 | 1,908 | -4,858 |
Total adjustments | |||||||||
110,897 | -67,373 | 78,853 | -33,947 | 67,799 | -7,207 | 8,480 | -25,185 | 20,767 | -12,319 |
Net cash provided by operating activities | |||||||||
133,670 | -64,778 | 96,513 | -52,205 | 73,264 | 922 | - | - | - | - |
Cash Flows From Investing Activities | |||||||||
Net cash provided by operating activities | |||||||||
- | - | - | - | - | - | 13,574 | -22,053 | 28,340 | -8,962 |
Purchases of property and equipment | |||||||||
5,741 | 17,325 | 8,705 | 21,380 | 26,666 | 17,213 | 9,446 | 10,865 | 8,019 | 8,240 |
Acquisitions, net of cash acquired | |||||||||
35 | 4,806 | 2,077 | - | - | - | - | - | - | - |
Acquisition of assets of En Pointe | |||||||||
- | - | - | - | 0 | 0 | - | - | - | - |
Acquisition of Acrodex, net of cash acquired | |||||||||
- | - | - | - | 0 | - | - | - | - | - |
Acquisition of assets of Systemax | |||||||||
- | - | - | - | 0 | 0 | - | - | - | - |
Fair value of assets, net of cash acquired | |||||||||
- | - | - | - | - | - | - | - | 13,472 | 1,510 |
Acquisitions, net of cash acquired | |||||||||
- | - | - | 44,861 | - | - | - | - | 8,788 | 1,020 |
Acquisition of Stack Technology | |||||||||
- | - | - | - | 0 | 0 | - | - | - | - |
Net cash used in investing activities | |||||||||
-5,776 | -22,131 | -10,782 | -66,241 | -26,666 | -17,213 | - | - | - | - |
Cash Flows From Financing Activities | |||||||||
Net payments under line of credit | |||||||||
-125,379 | 106,382 | -55,043 | 109,644 | -57,704 | 22,869 | - | 41,205 | -4,236 | 24,117 |
Borrowing under note payable | |||||||||
- | 5,216 | 526 | 17,695 | 13,734 | 4,599 | 2,859 | 7,198 | - | - |
Payments under notes payable | |||||||||
3,450 | 3,771 | 5,173 | 4,686 | 2,487 | 1,461 | 1,087 | 757 | 1,143 | 1,004 |
Change in book overdraft | |||||||||
1,314 | 3,195 | -13,131 | 16,387 | -98 | -3,034 | -2,640 | 7,034 | -3,454 | -1,117 |
Payments of earn-out liability | |||||||||
2,199 | 13,427 | 13,058 | 8,938 | 0 | 0 | - | - | - | - |
Payment of earnout liability | |||||||||
- | - | - | - | - | - | 993 | 1,121 | - | - |
Payments of obligations under capital lease | |||||||||
1,009 | 1,311 | 2,425 | 2,394 | 2,625 | 2,932 | 2,440 | 1,203 | 483 | 450 |
Proceeds from stock issued under stock option plans | |||||||||
- | - | - | - | - | - | 604 | 762 | 72 | 636 |
Excess tax benefit related to stock option exercises | |||||||||
- | - | - | - | 293 | 291 | 193 | 668 | 31 | 289 |
Proceeds from capital lease obligations Capital lease proceeds | |||||||||
- | 587 | - | 0 | 0 | 206 | 4,356 | - | - | - |
Proceeds from stock issued under stock option plans | |||||||||
1,646 | 5,080 | 2,541 | 907 | 3,887 | 2,362 | - | - | - | - |
Purchase of El Segundo building | |||||||||
- | - | - | - | - | - | - | 17,174 | - | - |
Acquisition of eCost | |||||||||
- | - | - | - | - | - | - | 2,284 | 8,788 | - |
Proceeds from sale of fixed assets | |||||||||
- | - | - | - | - | - | - | 25 | 19 | - |
Net cash used in investing activities | |||||||||
- | - | - | - | - | - | -9,446 | -30,298 | -16,788 | -9,260 |
Net payments under line of credit | |||||||||
- | - | - | - | - | - | -4,222 | - | - | - |
Payment for deferred financing costs | |||||||||
275 | 1,009 | 653 | 760 | 30 | 1,163 | - | 25 | 104 | - |
Common shares repurchased and held in treasury | |||||||||
- | 11,602 | 3,608 | 5,854 | 2,151 | 1,633 | 3,910 | 2,557 | 922 | 2,631 |
Payment of taxes related to net-settled stock awards | |||||||||
646 | 894 | - | 0 | - | - | - | - | - | - |
Net cash used in financing activities | |||||||||
-129,998 | 88,446 | -90,024 | 122,001 | -47,181 | 20,104 | - | - | - | - |
Effect of foreign currency on cash flow | |||||||||
-977 | 404 | 289 | - | - | - | - | - | - | - |
Net change in cash and cash equivalents | |||||||||
-3,081 | 1,941 | -4,004 | - | - | - | - | - | - | - |
Effect of foreign currency on cash flow | |||||||||
- | - | - | -1,271 | -517 | -356 | - | - | - | - |
Net change in cash and cash equivalents | |||||||||
- | - | - | 2,284 | -1,100 | 3,457 | - | - | - | - |
Net cash provided by (used in) financing activities | |||||||||
- | - | - | - | - | - | -7,280 | 51,204 | -10,239 | 19,840 |
Effect of foreign currency on cash flow | |||||||||
- | - | - | - | - | - | 203 | -80 | 183 | 849 |
Net change in cash and cash equivalents | |||||||||
- | - | - | - | - | - | -2,949 | -1,227 | 1,496 | 2,467 |
Supplemental Cash Flow Information | |||||||||
Interest paid | |||||||||
9,051 | 7,071 | 5,373 | - | - | - | - | - | - | - |
Interest paid | |||||||||
- | - | - | 3,619 | 3,353 | 3,228 | 3,305 | 2,797 | 1,829 | 1,516 |
Income taxes paid (refund), net | |||||||||
2,048 | 4,340 | 7,332 | -4,960 | 6,184 | 2,974 | - | - | - | - |
Income taxes paid | |||||||||
- | - | - | - | - | - | 2,470 | 4,157 | 1,558 | 2,446 |
Supplemental Non-Cash Investing and Financing Activities | |||||||||
Accrued earn-out liability related to En Pointe acquisition | |||||||||
- | - | - | - | 0 | - | - | - | - | - |
Accrued earn-out liability related to Stratiform acquisition | |||||||||
- | - | - | - | 0 | - | - | - | - | - |
Accrued earn-out liability related to En Pointe acquisition | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Financed and accrued purchases of property and equipment | |||||||||
2,508 | 900 | 777 | 895 | 2,332 | 1,106 | 1,988 | 2,779 | - | 1,105 |
Accrued earn-out liability related to acquisitions | |||||||||
- | 707 | 326 | 38,625 | - | - | - | - | - | - |
Deferred financing costs | |||||||||
- | - | - | - | - | - | - | 346 | 1,410 | - |
Cash paid | |||||||||
- | - | - | 44,861 | - | - | - | - | - | 1,020 |
Liabilities assumed | |||||||||
- | - | - | - | - | - | - | - | -4,684 | 490 |