Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities    
Net income $ 1,059 $ 1,020
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 59 74
Deferred income tax (benefit) expense (12) 34
Provision for doubtful accounts receivable   37
Share-based compensation expense 327 271
Changes in operating assets and liabilities:    
Accounts receivable 3,901 16,872
Inventory 82 88
Prepaid expenses and other current assets 906 14
Accounts payable and accrued expenses (14,155) (17,548)
Other assets (2) (82)
Net cash (used in) provided by operating activities (7,835) 780
Cash flows (used in) provided by investing activities    
Purchases of available-for-sale securities   (920)
Redemptions of available-for-sale securities   5,342
Purchase of equipment and leasehold improvements (69) (72)
Net cash (used in) provided by investing activities (69) 4,350
Cash flows from financing activities    
Dividends paid (787) (750)
Purchase of treasury stock (184) (512)
Tax benefit from share-based compensation 239 32
Repayment of capital lease obligations   (27)
Proceeds from stock option exercises 867  
Net cash provided by (used in) financing activities 135 (1,257)
Effect of foreign exchange rate on cash (122) (117)
Net (decrease) increase in cash and cash equivalents (7,891) 3,756
Cash and cash equivalents at beginning of period 19,609 9,835
Cash and cash equivalents at end of period 11,718 13,591
Supplementary disclosure of cash flow information:    
Income taxes paid 621 574
Interest paid   $ 10