Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 20,728 $ 23,481
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 276 180
Stock-based compensation 17 84
Cumulative Translation Adjustment Realized In Net Income (258) 132
Changes in assets and liabilities:    
Inventories 1,388 (1,865)
Other current assets 489 (612)
Other assets (58) 2
Accounts payable 226 665
Income taxes payable 4,304 487
Accrued commissions (915) (989)
Other accrued expenses (3,229) 2,597
Deferred revenue (939) 4,816
Amounts held in eWallets (327) 1,759
Other current liabilities (24) 203
Long-term incentive (1,049) (506)
Net cash provided by operating activities 20,629 30,434
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (170) (524)
Net cash used in investing activities (170) (524)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of common stock 0 (23,704)
Dividends paid (10,078) (1,262)
Net cash used in financing activities (10,078) (24,966)
Effect of exchange rates on cash and cash equivalents (41) (209)
Net increase (decrease) in cash and cash equivalents 10,340 4,735
CASH AND CASH EQUIVALENTS, beginning of period 125,921 104,914
CASH AND CASH EQUIVALENTS, end of period 136,261 109,649
SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION:    
Issuance of treasury stock for employee awards, net $ 1,393 $ 1,741