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
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net income $ 2,560 $ 2,333
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 150 163
Deferred income tax expense 14 (18)
Provision for doubtful accounts receivable 112 95
Share-based compensation expense 551 463
Changes in operating assets and liabilities:    
Accounts receivable 10,603 (4,077)
Inventory (30) (67)
Prepaid expenses and other current assets (240) 740
Accounts payable and accrued expenses (12,910) (18)
Other assets (82) (21)
Net cash provided by (used in) operating activities 728 (407)
Cash flows provided by (used in) investing activities    
Purchases of available-for-sale securities (920) (2,886)
Redemptions of available-for-sale securities 5,342 2,695
Purchase of equipment and leasehold improvements (146) (73)
Net cash provided by (used in) investing activities 4,276 (264)
Cash flows from financing activities    
Dividends paid (1,493) (1,486)
Purchase of treasury stock (1,211) (277)
Tax benefit from share-based compensation 57 112
Repayment of capital lease obligations (41) (34)
Proceeds from stock option exercises   409
Net cash used in financing activities (2,688) (1,276)
Effect of foreign exchange rate on cash (130) (18)
Net increase (decrease) in cash and cash equivalents 2,186 (1,965)
Cash and cash equivalents at beginning of period 9,835 9,202
Cash and cash equivalents at end of period 12,021 7,237
Supplementary disclosure of cash flow information:    
Income taxes paid 1,593 1,960
Interest paid $ 10