Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.3.0.15
Consolidated Statements of Cash Flows (USD $)
In Thousands
 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Operating activities    
Net income (loss) $ 12,890 $ (3,459)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 6,146 9,448
Amortization of deferred financing costs 527 741
Loss on extinguishment of debt 673 7,967
Amortization of debt discount 100  
Stock-based compensation 1,210 3,158
Provision for losses on accounts receivable 454 281
Deferred income taxes 7,660 3,374
Changes in operating assets and liabilities:    
Accounts receivable (46,420) (50,446)
Inventories (3,586) 2,222
Prepaid and other assets and prepaid income taxes (821) (6,069)
Accounts payable 985 1,375
Accrued expenses and other current liabilities 2,480 (7,268)
Deferred compensation (120) 187
Benefit obligations and other long-term liabilities (368) 54
Net cash used in operating activities (18,190) (38,435)
Investing activities    
Capital expenditures (1,585) (2,414)
Proceeds from sale of equipment 67 212
Net cash used in investing activities (1,518) (2,202)
Financing activities    
Stock repurchases   (2)
Proceeds from exercise of stock options 1,277  
Payment of call premium and post payoff interest on senior notes redemption   (3,876)
Collection of stockholders' notes receivable 482 535
Payments of financing costs (3,454) (2,605)
Dividends paid (21,275) (3,867)
Revolver borrowings 24,000 37,000
Proceeds from public offering, net   63,938
Borrowings on long-term debt 123,750 40,000
Repayment of long-term debt (122,137) (150,838)
Net cash provided by (used in) financing activities 2,643 (19,715)
Change in cash and cash equivalents (17,065) (60,352)
Cash and cash equivalents at beginning of period 20,149 69,073
Cash and cash equivalents at end of period $ 3,084 $ 8,721