CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(In thousands)

(Unaudited)

First Quarter of

2013

2012

Cash flow from operating activities:

    Net Income

$         48,932

$          50,072

    Adjustments to reconcile net income to net cash provided by

       operating activities:

         Depreciation expense

6,193

5,562

         Amortization expense

39,332

28,797

         Provision for doubtful accounts

65

587

         Deferred income taxes

(11,809)

146

         Stock-based compensation

8,818

7,789

         Income from equity method investments

(4,257)

(6,192)

         Excess tax benefit for stock-based compensation

(4,784)

(7,580)

         Provision for excess and obsolete inventories

584

3,111

         Other non-cash items

104

(977)

    Add decrease (increase) in assets:

         Accounts receivables

(61,956)

(46,425)

         Other receivables

5,027

2,211

         Inventories

(20,218)

5,928

         Other current and non-current assets

(10,867)

(7,972)

    Add increase (decrease) in liabilities:

         Accounts payable

(6,081)

4,205

         Accrued compensation and benefits

(12,037)

(1,895)

         Deferred revenue

51,964

29,569

         Accrued warranty expense

439

(728)

         Other current and non-current liabilities

7,939

1,450

 Net cash provided by operating activities 

37,388

67,658

 Cash flow from investing activities: 

      Acquisitions of businesses, net of cash acquired 

(65,192)

(101,392)

      Acquisitions of property and equipment 

(14,927)

(7,644)

      Acquisitions of intangible assets 

-

(755)

      Sales of equity method investments 

2,430

-

      Dividends received 

1,284

-

      Other 

-

251

 Net cash used in investing activities 

(76,405)

(109,540)

 Cash flow from financing activities: 

      Issuance of common stock, net 

14,437

26,682

      Excess tax benefit for stock-based compensation 

4,784

7,580

      Proceeds from long-term debt and revolving credit lines 

113,000

181,500

      Payments on short-term and long-term debt  

(103,981)

(122,850)

 Net cash provided by financing activities 

28,240

92,912

 Effect of exchange rate changes on cash and cash equivalents 

(3,442)

3,495

 Net increase (decrease) in cash and cash equivalents 

(14,219)

54,525

 Cash and cash equivalents - beginning of period 

157,771

154,621

 Cash and cash equivalents - end of period 

$        143,552

$         209,146