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
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income $ 12,120 $ 12,963
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,102 10,180
Loss on Disposition of Property Plant Equipment, Total 233 0
Deferred taxes (577) 2,786
Stock-based compensation 650 467
Earn-out obligation adjustment 58 (713)
Assets Held-for-sale 163 0
Changes in operating assets and liabilities:    
Receivables, net 10,545 5,276
Inventories 264 (1,129)
Other current assets and noncurrent assets (3,110) 720
Accounts payable and deferred compensation (2,875) (10,446)
Accrued expenses and other current liabilities (2,814) 1,595
Other liabilities (349) 229
Long-term lease obligations (500) 0
Net cash provided by operating activities 23,910 21,928
Cash flows from investing activities:    
Purchases of property and equipment (2,489) (11,141)
Cash paid for acquisitions, net of cash acquired 0 (4,607)
Net cash used in investing activities (2,489) (15,748)
Cash flows from financing activities:    
Borrowings on loan arrangement 139,037 147,624
Repayments on loan arrangement (160,487) (152,377)
Earn-out obligation payments 0 (314)
Payments on capital lease obligations (356) (384)
Dividends paid (850) (738)
Net cash (used in) provided by financing activities (22,656) (6,189)
Net increase (decrease) in cash and cash equivalents (1,235) (9)
Cash and cash equivalents at beginning of period 1,501 451
Cash and cash equivalents at end of period $ 266 $ 442