| 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 (loss) | ||||||||
-7,493 | -8,659 | 18,569 | 24,950 | 18,055 | 31,757 | 21,337 | 9,634 | -5,936 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
11,232 | 10,372 | 9,401 | 8,102 | 8,086 | 9,867 | 10,299 | 9,052 | 9,794 |
Stock based compensation | ||||||||
13,031 | 11,520 | 9,329 | 7,382 | 5,374 | 5,383 | 5,458 | 5,493 | 4,041 |
Gain from sale of available-for-sale marketable securities | ||||||||
18 | 1,771 | 2,438 | 424 | 124 | 21 | 0 | - | - |
Amortization of premiums, accretion of discounts and accrued interest on available-for-sale marketable securities, net | ||||||||
-1,546 | -1,949 | -3,208 | -2,964 | -2,326 | -2,198 | -3,652 | -1,877 | -1,765 |
Accrued interest on bank deposits | ||||||||
226 | 1,179 | -1,998 | 1,069 | 813 | 354 | 243 | 137 | 130 |
Increase (decrease) in accrued severance pay, net | ||||||||
-210 | 401 | 125 | -158 | -74 | -165 | -59 | -591 | -703 |
Decrease (increase) in trade receivables, net | ||||||||
-3,390 | -7,003 | 773 | 726 | 6,356 | 5,843 | -3,978 | -60 | 3,255 |
Changes in deferred income taxes, net | ||||||||
91 | -2,687 | 215 | -1,775 | -699 | -1,584 | -1,358 | 5 | -1 |
Decrease (increase) in other current assets and prepaid expenses | ||||||||
7,969 | -883 | 103 | 1,913 | 276 | 1 | -772 | 468 | 888 |
Decrease (increase) in inventories | ||||||||
1,658 | 792 | -522 | 2,654 | 1,569 | 398 | 2,425 | -70 | 561 |
Decrease in trade payables | ||||||||
-734 | -3,284 | -562 | 1,019 | -1,231 | 4,816 | -814 | 214 | 1,053 |
Increase in deferred revenues (short-term and long-term) | ||||||||
28,781 | 12,964 | 3,849 | 8,638 | 5,920 | 296 | 977 | 13,358 | 8,807 |
Increase (decrease) in other payables and accrued expenses and other long-term liabilities | ||||||||
-8,753 | 8,855 | 424 | 7,146 | 3,767 | 5,941 | 1,206 | 2,409 | 1,338 |
Excess tax deficiency (benefit) from stock-based compensation stock options | ||||||||
0 | -547 | 632 | 1,443 | 2,186 | 372 | 790 | - | 899 |
Net cash provided by operating activities | ||||||||
31,462 | 38,480 | 39,136 | 52,177 | 30,200 | 51,520 | 41,990 | 40,966 | 14,427 |
Cash flows from investing activities: | ||||||||
Purchase of property and equipment | ||||||||
7,210 | 9,404 | 13,774 | 9,482 | 8,712 | 9,337 | 5,734 | 5,650 | 5,837 |
Investment in other long-term assets | ||||||||
6 | 53 | 100 | -34 | -11 | 13 | 35 | 88 | 36 |
Proceeds from (investment in) bank deposits, net | ||||||||
37,200 | -31,295 | 33,824 | 20,929 | 1,290 | 30,653 | 32,089 | - | - |
Investment in bank deposits | ||||||||
- | - | - | - | - | - | - | 21,174 | 35,000 |
Purchase of available-for-sale marketable securities | ||||||||
24,595 | 16,219 | 13,442 | 44,063 | 35,149 | 32,066 | 68,777 | 75,814 | 405,827 |
Proceeds from maturity of available-for-sale marketable securities | ||||||||
20,075 | 17,205 | 26,530 | 29,390 | 17,951 | 10,162 | - | - | - |
Proceeds from redemption of available-for-sale marketable securities | ||||||||
863 | 5,535 | 27,757 | 10,393 | 5,328 | 2,021 | 57,423 | 37,201 | 440,575 |
Purchase of an intangible asset | ||||||||
- | - | - | 1,375 | 0 | 0 | - | 1,200 | - |
Payment for the acquisition of subsidiary, net of cash acquired | ||||||||
8,269 | 0 | 0 | - | 8,126 | 0 | 0 | - | 18,022 |
Net cash provided by (used in) investing activities | ||||||||
-56,342 | 28,359 | -6,853 | -36,032 | -29,987 | -59,886 | -49,212 | -66,725 | -24,147 |
Cash flows from financing activities: | ||||||||
Proceeds from exercise of stock options | ||||||||
10,891 | 1,583 | 8,746 | 22,493 | 5,522 | 10,656 | 8,534 | 21,200 | 1,018 |
Excess tax (deficiency) benefit from stock-based compensation | ||||||||
0 | -547 | 632 | 1,443 | 2,186 | 372 | 790 | - | 899 |
Repurchase of ordinary shares | ||||||||
413 | 21,980 | 52,896 | 15,169 | 7,902 | 0 | 0 | - | 419 |
Net cash provided by (used in) financing activities | ||||||||
10,478 | -20,944 | -43,518 | 8,767 | -194 | 11,028 | 9,324 | 21,200 | 1,498 |
Increase (decrease) in cash and cash equivalents | ||||||||
-14,402 | 45,895 | -11,235 | 24,912 | 19 | 2,662 | 2,102 | -4,559 | -8,222 |
Supplemental disclosure of cash flow information: | ||||||||
Cash paid during the year for income taxes | ||||||||
14,352 | 1,730 | 1,853 | 2,285 | 3,861 | 967 | 847 | 719 | 383 |