September 30
2010
|
December 31,
2009
|
|||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 11,263 | $ | 19,227 | ||||
Short-term investments | 6,751 | 1,799 | ||||||
Trade accounts receivable,
less allowances of $321 and $565, respectively |
28,816 | 22,861 | ||||||
Other current assets | 5,139 | 2,628 | ||||||
Total current assets | 51,969 | 46,515 | ||||||
Property and equipment, net | 7,991 | 7,865 | ||||||
Goodwill | 178,459 | 157,245 | ||||||
Intangibles, net | 23,402 | 20,505 | ||||||
Indefinite-lived intangibles | 30,238 | 29,223 | ||||||
Other assets | 1,058 | 814 | ||||||
Total assets | $ | 293,117 | $ | 262,167 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued liabilities | $ | 15,705 | $ | 11,060 | ||||
Accrued payroll and related benefits | 3,452 | 3,634 | ||||||
Short term debt | 5,000 | 23,100 | ||||||
Convertible debt, net of discount of $241 and $706, respectively | 15,259 | 28,681 | ||||||
Current portion of long term debt and capital lease obligations | 392 | 596 | ||||||
Deferred revenue | 7,709 | 7,754 | ||||||
Current deferred rent | 192 | 163 | ||||||
Other current liabilities | 129 | 109 | ||||||
Total current liabilities | 47,838 | 75,097 | ||||||
Revolving line of credit | 21,000 | — | ||||||
Long term debt and capital lease obligations, less current portion |
1,494 | 671 | ||||||
Other liabilities | 2,991 | 2,965 | ||||||
Deferred tax liability, net | 6,014 | 5,147 | ||||||
Put option liability | 1,180 | 6,596 | ||||||
Deferred revenue | 113 | 269 | ||||||
Long term deferred rent | 609 | 679 | ||||||
Total liabilities | 81,239 | 91,424 | ||||||
Commitments and Contingencies, Note 6 | ||||||||
Stockholders' equity: | ||||||||
Preferred stock, $.10 par value,
500,000 shares authorized, no shares issued and outstanding at September 30, 2010 and December 31, 2009 |
— | — | ||||||
Common stock, $.10 par value,
60,000,000 shares authorized, 34,628,057 issued and 34,587,548 outstanding at September 30, 2010 and 34,474,608 issued and 34,434,099 outstanding at December 31, 2009 |
3,456 | 3,443 | ||||||
Additional paid-in capital | 151,173 | 158,404 | ||||||
Treasury stock (40,509 shares as of
September 30, 2010 and December 31, 2009) |
(76) | (76) | ||||||
Retained earnings | 51,698 | 8,623 | ||||||
Accumulated other comprehensive income | 5,627 | 349 | ||||||
Total stockholders' equity | 211,878 | 170,743 | ||||||
Total liabilities and stockholders' equity | $ | 293,117 | $ | 262,167 |