Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 22,852 $ 21,294 $ 20,552
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Impairment of goodwill and intangible assets 790 8,953 0
Depreciation and amortization 20,016 21,162 15,099
Loss on Disposition of Property Plant Equipment, Total 246 0 0
Deferred taxes (874) (1,253) 1,283
Stock-based compensation 1,576 1,076 1,427
Earn-out obligation adjustment 183 (4,337) (2,486)
Changes in operating assets and liabilities:      
Receivables, net 14,130 25,051 51,323
Inventories 2,240 435 (4,758)
Other current assets and noncurrent assets (3,798) 5,938 (3,420)
Accounts payable and deferred compensation 1,922 (17,279) (31,596)
Accrued expenses and other current liabilities (843) (1,719) (12,745)
Other liabilities (16) 992 108
Long-term lease obligations (1,826) (506) (91)
Net cash provided by operating activities 56,598 59,807 34,696
Cash flows from investing activities:      
Purchases of property and equipment (4,416) (20,863) (6,635)
Cash paid for acquisitions, net of cash acquired 0 (4,607) (174,945)
Net cash used in investing activities (4,416) (25,470) (181,580)
Cash flows from financing activities:      
Borrowings on loan arrangement 290,137 269,388 471,303
Repayments on loan arrangement (340,627) (293,409) (324,848)
Earn-out obligation payments (180) (6,787) (1,384)
Payments on capital lease obligations (725) (562) 0
Payment of taxes for equity transactions (257) (332) (393)
Payment of debt financing costs 0 0 (1,747)
Dividends paid (1,811) (1,585) (1,360)
Net cash (used in) provided by financing activities (53,463) (33,287) 141,571
Net increase (decrease) in cash and cash equivalents (1,281) 1,050 (5,313)
Cash and cash equivalents at beginning of period 1,501 451 5,764
Cash and cash equivalents at end of period 220 1,501 451
Cash paid for: [Abstract]      
Interest 4,192 5,512 3,149
Income taxes $ 15,638 $ 10,686 $ 12,625