September 30, | December 31, | |||||||
2011 | 2010 | |||||||
ASSETS | (Unaudited) | |||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 13,941 | $ | 23,397 | ||||
Short-term investments | 1,663 | 6,300 | ||||||
31,242 | 26,028 | |||||||
Deferred tax asset, net | 3,127 | |||||||
Other current assets | 4,410 | 5,057 | ||||||
Total current assets | 54,383 | 60,782 | ||||||
Property and equipment, net | 8,718 | 7,806 | ||||||
Goodwill | 237,863 | 180,602 | ||||||
Intangibles, net | 38,380 | 22,574 | ||||||
Indefinite-lived intangibles | 30,493 | 30,552 | ||||||
Deferred tax asset, net | 10,196 | |||||||
Other assets | 974 | 984 | ||||||
Total assets | $ | 381,007 | $ | 303,300 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued liabilities | $ | 20,050 | $ | 15,344 | ||||
Accrued payroll and related benefits | 4,563 | 4,536 | ||||||
Short term debt | 6,667 | 5,000 | ||||||
Convertible debt, net of discount of $0 as of September 30, 2011 and $56 thousand as of December 31, 2010 |
4,944 | |||||||
Current portion of long term debt
and capital lease obligations |
154 | 426 | ||||||
16,380 | 8,610 | |||||||
250 | 207 | |||||||
Put option liability | 1,430 | |||||||
Other current liabilities | 998 | 18 | ||||||
Total current liabilities | 50,492 | 39,085 | ||||||
Revolving line of credit | 10,250 | 25,000 | ||||||
10,159 | 205 | |||||||
Other liabilities | 3,635 | 2,991 | ||||||
Deferred tax liability, net | 3,534 | |||||||
Put option liability | 537 | |||||||
Deferred revenue | 139 | 126 | ||||||
Long term deferred rent | 1,012 | 554 | ||||||
Total liabilities | 75,687 | 72,032 | ||||||
Stockholders' equity: | ||||||||
Preferred stock, $0.10 par value,
500,000 shares authorized, no shares issued and outstanding at September 30, 2011 and December 31, 2010 |
||||||||
Common stock, $0.10 par value, 60,000,000
shares authorized, 36,534,976 issued and 36,494,467 outstanding at September 30, 2011 and 36,057,791 issued and 36,017,282 outstanding at December 31, 2010 |
3,649 | 3,602 | ||||||
Additional paid-in capital | 179,619 | 153,221 | ||||||
Treasury stock (40,509 shares as of September 30, 2011 and December 31, 2010) |
(76) | (76) | ||||||
Retained earnings | 121,690 | 67,642 | ||||||
Accumulated other comprehensive income | 438 | 6,879 | ||||||
Total stockholders' equity | 305,320 | 231,268 | ||||||
Total liabilities and stockholders' equity | $ | 381,007 | $ | 303,300 | ||||