TeleNav 2011 Annual Report Download - page 84

Table of Contents
TELENAV, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, except per share data)
See Notes to Consolidated Financial Statements.
80
Fiscal Year Ended June 30,
2011
2010
2009
Operating activities
Net income
$
42,574
$
41,410
$
29,618
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization
7,709
5,098
2,453
Accretion of premium on short
-
term investments
2,630
—
—
Stock
-
based compensation expense
4,137
4,927
507
Write
-
off of capitalized software
714
—
—
Revaluation of preferred stock warrants
—
346
843
Excess tax benefit from employee stock option plans
(1,666
)
(375
)
—
Changes in operating assets and liabilities:
Accounts receivable
6,602
(13,384
)
(9,385
)
Deferred income taxes
581
(2,645
)
(2,476
)
Prepaid expenses and other current assets
(6,634
)
17
(2,196
)
Other assets
964
(1,243
)
(908
)
Accounts payable
406
587
522
Accrued compensation
2,264
1,799
1,683
Accrued royalties
1,166
(347
)
1,417
Accrued expenses and other liabilities
2,315
3,412
59
Income taxes payable
875
1,402
(183
)
Deferred revenue
42,043
3,446
1,086
Net cash provided by operating activities
106,680
44,450
23,040
Investing activities
Purchases of property and equipment
(4,898
)
(7,375
)
(5,368
)
Additions to capitalized software
(1,234
)
(2,440
)
(1,626
)
Purchases of short
-
term investments
(241,269
)
—
—
Maturities of short
-
term investments
17,640
—
—
Proceeds from sales of short
-
term investments
42,063
—
—
Net cash used in investing activities
(187,698
)
(9,815
)
(6,994
)
Financing activities
Proceeds from exercise of stock options
2,623
457
68
Proceeds from initial public offering, net of costs
—
44,638
—
Proceeds from exercise of Series E preferred stock warrants
—
862
—
Repurchases of common stock
(12,024
)
(1,228
)
—
Excess tax benefit from employee stock option plans
1,666
375
—
Net cash provided by (used in) financing activities
(7,735
)
45,104
68
Effect of exchange rate changes on cash and cash equivalents
(56
)
(5
)
164
Net increase (decrease) in cash and cash equivalents
(88,809
)
79,734
16,278
Cash and cash equivalents, at beginning of period
112,862
33,128
16,850
Cash and cash equivalents, at end of period
$
24,053
$
112,862
$
33,128
Supplemental disclosure of cash flow information
Income taxes paid
$
26,995
$
23,737
$
15,916
Non
-
cash financing activities
Issuance of common stock in the form of a stock dividend to Series E preferred stockholders
$
—
$
5,089
$
—