Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 5,079 $ 6,608
Less: income from discontinued operations 0 731
Income from continuing operations 5,079 5,877
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash change in estimated fair value of contingent liabilities 140 1,306
Realized gain on sale of short-term investment (66) (406)
Depreciation and amortization 2,979 2,575
Amortization of premium (discount) on investments, net (46) 320
Amortization of debt discount and issuance fees 2,838 2,668
Stock-based compensation 6,045 4,118
Deferred income taxes 1,018 4,101
Change in fair value of the Viking convertible debt receivable and warrants (76) 15
Loss from Viking 1,083 1,605
Changes in operating assets and liabilities:    
Accounts receivable 7,643 (5,604)
Inventory (1,197) 853
Other current assets 745 16
Accounts payable and accrued liabilities (1,963) (4,302)
Other 0 (28)
Net cash provided by operating activities 24,222 13,114
Investing activities    
Payments to CVR holders and other contingency payments (4,998) (5,446)
Purchases of property and equipment (87) (238)
Cash paid for acquisition, net of cash acquired 0 (92,855)
Purchase of short-term investments (73,352) (49,892)
Proceeds from sale of short-term investments 17,719 20,270
Proceeds from maturity of short-term investments 30,052 48,401
Net cash used in investing activities (30,666) (79,760)
Financing activities    
Net proceeds from stock option exercises and ESPP 355 1,013
Taxes paid related to net share settlement of equity awards (2,022) 0
Share repurchase 0 (502)
Net cash (used in) provided by financing activities (1,667) 511
Net decrease in cash and cash equivalents (8,111) (66,135)
Cash and cash equivalents at beginning of period 18,752 97,428
Cash and cash equivalents at end of period 10,641 31,293
Supplemental disclosure of cash flow information    
Interest paid 919 919
Taxes paid 96 1
Supplemental schedule of non-cash activity    
Stock issued for acquisition, net of issuance cost 0 (77,615)
Accrued inventory purchases 3,909 600
Unrealized loss on AFS investments $ (66) $ (1,834)