Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating activities    
Net loss $ (3,407) [1] $ (5,919) [1]
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 1,142 1,450
Amortization 2,791 1,357
Share-based compensation expense 586 686,000
Deferred and stock option income tax benefit (1,666) (3,091)
Loss on translation of foreign currency 20  
Losses from equity method investment 1,640  
Changes in operating assets and liabilities, net of effects from an acquisition:    
Accounts receivable, net 31,989 23,195
Inventory, net (3,592) 2,083
Deferred advertising costs (712) (650)
Receivable from equity method investee 8  
Income taxes receivable   161
Advances (4,925) (1,136)
Other current assets (407) (4,630)
Accounts payable (2,842) (5,906)
Participations payable (3,664) (1,015)
Accrued liabilities 992 (2,751)
Deferred revenue and other current liabilities    2,056
Net cash provided by operating activities 17,362 5,890
Investing activities    
Purchase of property, equipment and media rights (2,324) (2,319)
Purchase of business (13,400)  
Cash from acquired business    3,416
Collection of note receivable    2,700
Change in restricted cash    56
Net cash (used in) provided by investing activities (15,724) 3,853
Financing activities    
Net borrowings (payments) on revolving line of credit 14,000 (987)
Principal payments on debt (18,703) (9)
Net proceeds from issuance of common stock and tax benefits from option exercises    77
Net cash used in financing activities (4,703) (919)
Effect of exchange rates on cash (20) 70
Net change in cash (3,085) 8,894
Cash at beginning of period 14,545 28,773
Cash at end of period 11,460 37,667
Supplemental cash flow information    
Income taxes paid 344 256
Interest paid $ 121 $ 10
[1] RSOL was deconsolidated and accounted for as an equity method investment effective December 31, 2011. Consequently, RSOL is reported as an equity method investment for the three and six months ended June 30, 2012 and as a consolidated subsidiary for the three and six months ended June 30, 2011.