Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating activities    
Net income $ 7,051 $ 12,890
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 5,998 6,146
Amortization of deferred financing costs and debt discount 763 627
Loss on extinguishment of debt   673
Stock-based compensation 1,700 1,210
Provision for losses on accounts receivable 208 454
Deferred income taxes 3,631 7,660
Changes in operating assets and liabilities:    
Accounts receivable (36,867) (46,420)
Inventories (6,375) (3,586)
Prepaid and other assets and prepaid income taxes (2,145) (821)
Accounts payable (2,939) 985
Accrued expenses and other current liabilities (5,429) 2,480
Deferred compensation (156) (120)
Benefit obligations and other long-term liabilities (533) (368)
Net cash used in operating activities (35,093) (18,190)
Investing activities    
Capital expenditures (1,083) (1,585)
Proceeds from sale of equipment 80 67
Net cash used in investing activities (1,003) (1,518)
Financing activities    
Proceeds from exercise of stock options   1,277
Collection of stockholders' notes receivable   482
Payments of financing costs   (3,454)
Dividends paid (13,631) (21,275)
Revolver borrowings 23,000 24,000
Borrowings on long-term debt   123,750
Repayment of long-term debt (10,863) (122,137)
Net cash provided by (used in) financing activities (1,494) 2,643
Change in cash and cash equivalents (37,590) (17,065)
Cash and cash equivalents at beginning of period 39,432 20,149
Cash and cash equivalents at end of period $ 1,842 $ 3,084