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
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities    
Net income (loss) $ 43,265 $ (35,369)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Amortization and depreciation 9,935 13,866
Provision for inventory reserves 9 0
Amortization of investment premiums, net 83 204
Amortization of inventory step-up 336 13,286
Stock-based compensation 10,211 10,020
Deferred income taxes 133 (1,960)
Loss on disposal of property and equipment 48 0
Gain on sale of available-for-sale securities (50) 0
Change in fair value of contingent consideration 110 (132)
Impairment of lease 0 5,593
Gain on foreign currency (46) 0
Excess tax benefits on stock based awards (5,114) 0
Changes in operating assets and liabilities:    
Accounts receivable (1,941) 6,176
Inventory 7,409 (11,650)
Prepaid and other assets (805) 3,384
Accounts payable, accrued expenses and other current liabilities 4,967 434
Accrued compensation 3,540 1,503
Deferred revenue and deferred profit 1,732 523
Accrued price protection liability (1,756) 2,275
Other long-term liabilities (767) 249
Net cash provided by operating activities 71,299 8,402
Investing Activities    
Purchases of property and equipment (4,710) (1,460)
Purchases of intangible assets (390) 0
Cash used in acquisition, net of cash acquired (21,000) (3,615)
Purchases of available-for-sale securities (47,277) (19,968)
Maturities of available-for-sale securities 81,011 53,108
Net cash provided by investing activities 7,634 28,065
Financing Activities    
Repurchases of common stock (3) (101)
Net proceeds from issuance of common stock 4,285 3,455
Minimum tax withholding paid on behalf of employees for restricted stock units (3,593) (3,161)
Equity issuance costs 0 (705)
Net cash provided by (used in) financing activities 689 (512)
Effect of exchange rate changes on cash and cash equivalents 4 80
Increase in cash and cash equivalents 79,626 36,035
Cash and cash equivalents at beginning of period 67,956 20,696
Cash and cash equivalents at end of period 147,582 56,731
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 1,263 7
Issuance of restricted stock units to Physpeed continuing employees 578 0
Issuance of accrued share-based bonus plan $ 3,652 $ 2,722