Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES    
Net income $ 1,060 $ 353
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash stock-based compensation 1,381 199
Tax benefit related to stock options exercised 0 (10)
Depreciation and amortization 4,122 4,135
Amortization of deferred financing costs 149 160
Accretion of financing items 48 52
Accretion of acquisition-related deferred payments and contingent consideration 12 29
Provision for bad debts 388 135
Deferred income taxes 624 121
Change in the fair value of interest rate swap (357) 1,758
Change in the estimated fair value of contingent earn-out consideration 1 (128)
Impairment of indefinite-lived long-term assets other than goodwill 19 0
Loss on early retirement of long-term debt 41 9
Loss on the sale or disposal of assets 5 150
Changes in operating assets and liabilities:    
Accounts receivable 2,804 7,484
Inventories (171) 22
Prepaid expenses and other current assets 143 145
Accounts payable and accrued expenses (1,171) (1,796)
Deferred rent 26 (128)
Deferred revenue (119) (1,801)
Other liabilities (2) 0
Income taxes payable 34 189
Net cash provided by operating activities 9,037 11,078
INVESTING ACTIVITIES    
Cash paid for capital expenditures net of tenant improvement allowances (2,586) (2,427)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements (48) (200)
Escrow deposits related to acquisitions (42) (122)
Purchases of broadcast assets and radio stations (98) 0
Other (111) (226)
Net cash used in investing activities (3,130) (5,678)
FINANCING ACTIVITIES    
Payments of acquisition-related contingent earn-out consideration (9) (83)
Payments of deferred installments due from acquisition activity (200) (2,521)
Proceeds from the exercise of stock options 58 31
Payments of capital lease obligations (33) (27)
Payment of cash distributions on common stock (1,691) 0
Book overdraft 169 (950)
Net cash used in financing activities (5,954) (5,414)
CASH FLOWS FROM DISCONTINUED OPERATIONS    
Net increase (decrease) in cash and cash equivalents (47) (14)
Cash and cash equivalents at beginning of year 130 98
Cash and cash equivalents at end of year 83 84
Cash paid during the period for:    
Cash paid for interest, net of capitalized interest 3,244 3,547
Cash received for income taxes (30) (131)
Other supplemental disclosures of cash flow information:    
Barter revenue 1,329 1,040
Barter expense 1,294 1,055
Non-cash investing and financing activities:    
Capital expenditures reimbursable under tenant improvement allowances 48 200
Current value of deferred cash payments (short-term) 0 1,300
Term Loan B [Member]    
FINANCING ACTIVITIES    
Payments on Term Loan B and Revolver (5,000) (1,559)
Revolver [Member]    
FINANCING ACTIVITIES    
Payments on Term Loan B and Revolver (5,514) (13,207)
Proceeds from borrowings under Term Loan B and Revolver 6,266 12,902
Digital Media [Member]    
INVESTING ACTIVITIES    
Purchases of digital media businesses and assets (245) (2,700)
Publishing [Member]    
INVESTING ACTIVITIES    
Purchases of digital media businesses and assets $ 0 $ (3)