Nautilus 2007 Annual Report Download - page 40

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Table of Contents
NAUTILUS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2007, 2006 AND 2005
(In Thousands)
(Continued)
37
2007
2006
2005
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)
$
(55,613
)
$
29,100
$
23,000
Income (loss) from discontinued operations
(9,801
)
4,180
1,026
Income (loss) from continuing operations
(45,812
)
24,920
21,974
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating
activities:
Depreciation and amortization
15,686
15,154
15,245
Amortization of unearned stock compensation
—
—
363
Impairment of intangible assets
2,994
—
—
Impairment for terminated asset purchase agreement
19,364
—
—
Provision for long
-
term receivables
4,770
—
—
Share
-
based compensation
2,679
2,534
—
Litigation settlement
(18,300
)
—
—
Loss on sale of property, plant and equipment
1,111
110
17
Tax benefit from exercise of nonqualified options
—
—
1,788
Excess tax benefit from stock
-
based compensation
(111
)
(48
)
—
Deferred income taxes
(18,261
)
414
3,333
Foreign currency transaction gain
(976
)
(869
)
—
Changes in assets and liabilities, net of the effect of acquisition:
Trade receivables
43,749
(21,184
)
(18,321
)
Inventories
(1,981
)
29,396
(33,374
)
Prepaid expenses and other current assets
10,986
(11,949
)
(1,593
)
Income taxes receivable
(11,382
)
—
—
Trade payables
(13,221
)
(1,723
)
1,270
Accrued liabilities
13,921
1,956
2,186
Income taxes payable
(4,090
)
907
(6,028
)
Customer deposits
654
(1,158
)
493
Net cash provided by (used in) operating activities of continuing operations
1,780
38,460
(12,647
)
Net cash provided by (used in) operating activities of discontinued operations
6,724
(4,654
)
3,001
Net cash provided by (used in) operating activities
8,504
33,806
(9,646
)