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
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 8,383 $ 11,501
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,409 4,267
Loss (gain) on sale of property and equipment (1) 10
Deferred taxes 80 (51)
Stock-based compensation 307 392
Earn-out obligation adjustment (955) 0
Changes in operating assets and liabilities, net of impact of acquisition:    
Receivables, net 15,377 36,652
Inventories (1,081) 0
Other current assets and noncurrent assets (4,531) 738
Accounts payable and deferred compensation (14,060) (44,315)
Accrued expenses (7,582) (5,181)
Other liabilities (96) (12)
Net cash provided by operating activities 1,250 4,001
Cash flows from investing activities:    
Purchases of property and equipment (2,101) (2,565)
Proceeds from the sale of property and equipment 7 0
Cash paid for acquisition, net of cash acquired (174,932) 0
Earn-out obligation payments (1,384) (1,845)
Net cash used in investing activities (178,410) (4,410)
Cash flows from financing activities:    
Borrowings on loan arrangement 314,517 120,366
Repayments on loan arrangement (140,139) (120,366)
Payment of debt financing costs (1,707) 0
Dividends paid (627) (518)
Net cash provided by (used in) financing activities 172,044 (518)
Net decrease in cash and cash equivalents (5,116) (927)
Cash and cash equivalents at beginning of period 5,764 8,024
Cash and cash equivalents at end of period $ 648 $ 7,097