| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Operating Activities: | ||||||||
Net income | ||||||||
37,506 | 41,899 | 35,227 | 76,598 | 95,393 | 70,119 | 35,133 | 24,321 | 11,203 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
44,246 | 50,638 | 44,972 | 37,764 | 31,029 | 35,029 | 31,249 | 30,627 | 23,282 |
Deferred income taxes | ||||||||
3,617 | 6,699 | 5,135 | -8,843 | -711 | -11,103 | -2,121 | 618 | -599 |
Gain on CRS settlement | ||||||||
- | - | - | - | 9,949 | - | - | - | - |
Revaluation of derivatives | ||||||||
- | - | - | - | 490 | 1,039 | 2,678 | -167 | - |
Debt extinguishment expenses | ||||||||
- | - | - | - | - | -1,370 | - | - | -960 |
Stock based compensation | ||||||||
6,253 | 9,047 | 12,507 | 9,186 | 6,018 | 4,652 | 2,636 | 1,252 | 2,073 |
Defined benefit plan expense (income) | ||||||||
-570 | 82 | -23 | 184 | 668 | 820 | -659 | 50 | 266 |
Loss from write-off of intangible assets | ||||||||
- | - | - | - | 358 | - | - | - | - |
Allowance for credit losses | ||||||||
353 | -1 | -469 | 108 | -120 | 24 | -705 | 533 | 1,241 |
Excess tax benefit from equity awards | ||||||||
- | - | - | - | - | - | - | - | 3,257 |
Loss on sale of property and equipment | ||||||||
-462 | -2,602 | -1,042 | -468 | -20 | -131 | -106 | -555 | -35 |
Operating lease expense | ||||||||
6,173 | - | - | - | - | - | - | - | - |
Impairment loss | ||||||||
22,793 | 11,476 | - | - | - | - | - | - | - |
Other | ||||||||
1,612 | - | - | - | - | - | - | - | - |
Gain from equity investment | ||||||||
- | - | - | - | - | 785 | 436 | -82 | -243 |
Gain on revaluation of financial derivatives | ||||||||
- | - | - | - | - | - | - | - | -6,118 |
Changes in assets and liabilities: | ||||||||
Accounts receivable | ||||||||
-6,801 | -3,024 | -6,033 | 17,971 | 12,399 | 16,902 | 13,828 | 18,367 | 12,639 |
Inventory | ||||||||
3,859 | 7,689 | 4,348 | 5,933 | 10,954 | 8,367 | 9,600 | 5,847 | 4,624 |
Other current assets | ||||||||
-7,996 | 4,428 | 12,334 | - | - | - | - | - | - |
Prepaid expenses and other assets | ||||||||
- | - | - | -9,106 | 11,122 | 5,871 | 9,446 | 3,228 | -1,937 |
Accounts payable | ||||||||
-10,253 | 12,380 | -7,691 | 4,419 | 8,049 | 6,956 | 18,255 | 1,788 | 4,722 |
Other current liabilities | ||||||||
-4,327 | -7,295 | -30,171 | - | - | - | - | - | - |
Accrued liabilities | ||||||||
- | - | - | 3,314 | 8,922 | 5,301 | 11,888 | 4,314 | 3,266 |
Settlement of derivative financial instruments | ||||||||
- | - | - | - | 7,593 | - | - | 7,787 | - |
Net cash provided by operating activities | ||||||||
118,803 | 118,434 | 49,880 | 108,400 | 104,712 | 80,335 | 59,794 | 36,865 | 34,227 |
Investing Activities: | ||||||||
Proceeds from the sale of property and equipment | ||||||||
219 | 799 | 91 | 57 | 248 | 487 | 11 | 40 | - |
Proceeds from divestiture of business | ||||||||
44,173 | - | - | - | - | - | - | - | - |
Sales and maturities of short-term investments | ||||||||
- | - | - | - | - | - | - | - | 9,761 |
Purchase of non-controlling interest | ||||||||
- | - | - | - | - | - | 48,567 | - | - |
Acquisition of business, net of cash acquired | ||||||||
14,823 | 15 | 66,994 | 73,593 | -107 | 31,474 | - | - | 113,432 |
Acquisition of intangible assets | ||||||||
- | - | - | - | - | - | - | - | 37 |
Investment in development-stage entity | ||||||||
- | - | - | 4,486 | - | - | - | - | - |
Equity investment | ||||||||
- | - | - | - | - | - | - | - | 491 |
Loan to equity investment | ||||||||
- | - | - | - | - | - | - | 590 | 860 |
Cash invested in corporate owned life insurance | ||||||||
- | - | - | - | - | - | 266 | 265 | 266 |
Purchases of property and equipment | ||||||||
23,729 | 41,541 | 50,785 | 66,316 | 55,490 | 38,887 | 35,861 | 26,793 | 10,636 |
Net cash (used in) provided by investing activities | ||||||||
5,840 | -40,757 | -117,688 | -144,338 | -62,728 | -69,874 | -84,683 | -35,395 | -115,961 |
Financing Activities: | ||||||||
Borrowing of debt | ||||||||
37,812 | 94,679 | - | 115,000 | 15,000 | 91,592 | 45,669 | 3,326 | 138,168 |
Repayments of debt | ||||||||
96,999 | 99,460 | 27,156 | 42,244 | 5,053 | 79,692 | 24,496 | 22,953 | 110,775 |
Distribution paid to non-controlling interest | ||||||||
- | - | - | - | - | - | 3 | 290 | - |
Cash paid for financing costs | ||||||||
1,278 | - | - | 649 | - | 1,139 | - | 264 | 4,493 |
Cash paid for the cancellation of restricted stock | ||||||||
1,402 | 1,188 | 1,837 | 1,196 | 1,475 | 1,113 | - | - | - |
Proceeds from the sale of Series C Convertible Preferred Stock | ||||||||
- | - | - | - | - | - | - | - | 61,403 |
Proceeds from the sale of embedded derivatives | ||||||||
- | - | - | - | - | - | - | - | 2,610 |
Excess tax benefit from equity awards | ||||||||
- | - | - | 7,509 | 6,681 | 1,831 | 2,074 | 171 | 3,257 |
Redemption of Series C Preferred Stock | ||||||||
- | - | - | - | - | - | 8,446 | 23,340 | 7,780 |
Series C Preferred Stock Holders dividend | ||||||||
- | - | - | - | - | - | 696 | 2,400 | 1,362 |
Proceeds from the exercise of Common Stock options | ||||||||
16,557 | 14,777 | 2,755 | 1,438 | 9,273 | 7,176 | 4,801 | 774 | 3,345 |
Proceeds from public offering of common stock | ||||||||
- | - | - | - | - | - | - | 75,532 | - |
Cash paid for the repurchase of Common Stock | ||||||||
63,283 | 148,074 | 5,326 | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||
-108,593 | -139,266 | -31,564 | 79,858 | 24,426 | 18,655 | 18,903 | 32,477 | 85,548 |
Foreign currency effect | ||||||||
-2,722 | -1,963 | 25,357 | -11,212 | -7,631 | 1,699 | 2,719 | -366 | 6,559 |
Net increase in cash, cash equivalents and restricted cash | ||||||||
13,328 | -63,552 | -74,015 | 32,708 | 58,779 | 30,815 | -3,267 | 34,313 | -2,745 |
Supplemental disclosure of cash flow information: | ||||||||
Cash paid for taxes | ||||||||
11,008 | 23,159 | 76,741 | 21,608 | 32,376 | 21,756 | 11,326 | 8,445 | 5,322 |
Cash paid for interest | ||||||||
4,462 | 5,027 | 4,540 | 3,029 | 2,826 | 2,558 | 2,653 | 3,545 | 3,963 |
Supplemental disclosure of non-cash transactions: | ||||||||
Issuance of Common Stock to non-controlling interest | ||||||||
- | - | - | - | - | - | 42,517 | 7,780 | 7,780 |
Issuance of Common Stock for Series C Preferred Stock conversion | ||||||||
- | - | - | - | - | - | 15,108 | 1,031 | 2,242 |
Capital Lease | ||||||||
- | - | - | - | - | - | 3,254 | - | - |
Common Stock issued to Board of Directors and employees | ||||||||
- | - | - | 4,589 | 3,734 | 2,706 | 1,509 | 429 | 669 |