Incredimail 2011 Annual Report Download - page 95

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PERION NETWORK LTD. AND ITS SUBSIDIARIES
(Formerly: Incredimail Ltd.)
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
The accompanying notes are an integral part of the consolidated financial statements.
Year ended December 31,
2009
2010
2011
Cash flows from financing activities:
Exercise of share options
984
375
30
Excess tax benefit from share
-
based payment arrangements
-
209
-
Repurchase of Ordinary shares
(120
)
-
-
Dividend paid
(8,496
)
(8,477
)
(3,885
)
Net cash used in financing activities
(7,632
)
(7,893
)
(3,855
)
(Decrease) increase in cash and cash equivalents
16,533
(8,313
)
(4,795
)
Cash and cash equivalents at beginning of year
7,835
24,368
16,055
Cash and cash equivalents at end of year
$
24,368
$
16,055
$
11,260
Supplemental disclosure of cash flow activities:
Cash paid (received) during the year for:
Income taxes
$
1,790
$
2,719
$
(631
)
Supplemental disclosure of non-cash investing activities:
Purchase of property and equipment on credit
$
-
$
418
$
-
Issuance of shares in connection with the acquisition of Smilebox
$
-
$
-
$
750
F
-
8