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, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 12,963 $ 8,383
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,180 5,409
Deferred taxes 2,786 80
Stock-based compensation 467 307
Earn-out obligation adjustment (713) (955)
Changes in operating assets and liabilities, net of impact of acquisition:    
Receivables, net 5,276 15,377
Inventories (1,129) (1,081)
Other current assets and noncurrent assets 720 (4,531)
Accounts payable and deferred compensation (10,446) (14,060)
Accrued expenses and other current liabilities 1,595 (7,576)
Other liabilities 229 (122)
Long-term lease obligations 0 26
Net cash provided by operating activities 21,928 1,257
Cash flows from investing activities:    
Purchases of property and equipment (11,141) (2,101)
Cash paid for acquisitions, net of cash acquired (4,607) (174,932)
Net cash used in investing activities (15,748) (177,033)
Cash flows from financing activities:    
Borrowings on loan arrangement 147,624 314,517
Repayments on loan arrangement (152,377) (140,139)
Earn-out obligation payments (314) (1,384)
Payments on capital lease obligations (384) 0
Payment of debt financing costs 0 (1,707)
Dividends paid (738) (627)
Net cash (used in) provided by financing activities (6,189) 170,660
Net decrease in cash and cash equivalents (9) (5,116)
Cash and cash equivalents at beginning of period 451 5,764
Cash and cash equivalents at end of period $ 442 $ 648