Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:    
Net income $ 14,503 $ 18,719
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,014 6,479
Loss on sale of property and equipment 62 70
Deferred taxes 422 (294)
Stock-based compensation 786 830
Earn-out obligation adjustment (1,533) 0
Changes in operating assets and liabilities, net of impact of acquisition:    
Receivables, net 54,450 37,923
Inventories (2,807) 0
Other current assets and noncurrent assets (7,031) (4,919)
Accounts payable and deferred compensation (30,699) (45,767)
Accrued expenses (7,447) (3,013)
Other liabilities 5 57
Long-term lease obligations 17 0
Net cash provided by operating activities 30,742 10,085
Cash flows from investing activities:    
Purchases of property and equipment (3,820) (3,631)
Proceeds from the sale of property and equipment 13 0
Cash paid for acquisitions, net of cash acquired (174,933) (29,841)
Earn-out obligation payments (1,384) (1,845)
Net cash used in investing activities (180,124) (35,317)
Cash flows from financing activities:    
Borrowings on loan arrangement 411,473 159,614
Repayments on loan arrangement (264,812) (139,614)
Payment of debt financing costs (1,734) 0
Dividends paid (993) (829)
Net cash provided by financing activities 143,934 19,171
Net decrease in cash and cash equivalents (5,448) (6,061)
Cash and cash equivalents at beginning of period 5,764 8,024
Cash and cash equivalents at end of period $ 316 $ 1,963