March 31, | December 31, | ||||||||
2011 | 2010 | ||||||||
ASSETS | (Unaudited) | (Audited) | |||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 35,589 | $ | 23,397 | |||||
Short-term investments | 3,724 | 6,300 | |||||||
Trade accounts receivable, less allowances of $1,083 and $1,126, respectively |
35,173 | 26,028 | |||||||
Other current assets | 6,593 | 5,057 | |||||||
Total current assets | 81,079 | 60,782 | |||||||
Property and equipment, net | 9,287 | 7,806 | |||||||
Goodwill | 249,358 | 180,602 | |||||||
Intangibles, net | 41,109 | 22,574 | |||||||
Indefinite-lived intangibles | 30,924 | 30,552 | |||||||
Other assets | 1,104 | 984 | |||||||
Total assets | $ | 412,861 | $ | 303,300 | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||
Current liabilities: | |||||||||
Accounts payable and accrued liabilities | $ | 16,171 | $ | 15,344 | |||||
Accrued payroll and related benefits | 4,212 | 4,536 | |||||||
Short term debt | 3,750 | 5,000 | |||||||
Convertible debt, net of discount
of $35 and $56, respectively |
4,965 | 4,944 | |||||||
Current portion of long term debt and
capital lease obligations |
232 | 426 | |||||||
Deferred revenue | 16,162 | 8,610 | |||||||
Current deferred rent | 221 | 207 | |||||||
Other current liabilities | 73 | 18 | |||||||
Total current liabilities | 45,786 | 39,085 | |||||||
Revolving line of credit | 25,000 | 25,000 | |||||||
Long term debt and capital lease
obligations, less current portion |
233 | 205 | |||||||
Other liabilities | 2,991 | 2,991 | |||||||
Deferred tax liability, net | 2,576 | 3,534 | |||||||
Put option liability | 891 | 537 | |||||||
Deferred revenue | 116 | 126 | |||||||
Long term deferred rent | 1,145 | 554 | |||||||
Total liabilities | 78,738 | 72,032 | |||||||
Stockholders' equity: | |||||||||
Preferred stock, $0.10 par value,
500,000 shares authorized, no shares issued and outstanding at March 31, 2011 and |
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December 31, 2010 | — | — | |||||||
Common stock, $0.10 par value,
60,000,000 shares authorized, 39,668,672 issued and 39,628, 163 outstanding at |
|||||||||
March 31, 2011 and 36,057,791 issued
and 36,017,282 outstanding at December 31, 2010 |
3,961 | 3,602 | |||||||
Additional paid-in capital | 238,500 | 153,221 | |||||||
Treasury stock (40,509 shares as of
March 31, 2011 and December 31, 2010) |
(76 | ) | (76 | ) | |||||
Retained earnings | 82,806 | 67,642 | |||||||
Accumulated other comprehensive income | 8,932 | 6,879 | |||||||
Total stockholders' equity | 334,123 | 231,268 | |||||||
Total liabilities and stockholders' equity | $ | 412,861 | $ | 303,300 |