Annual report pursuant to section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
OPERATING ACTIVITIES    
Net income (loss) $ 1,669 $ (1,489)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Loss on extinguishment of long-term debt    671
Provision for doubtful accounts 6,534 5,251
Depreciation 5,415 5,668
(Gain)/Loss on disposal of medical equipment (47) 237
Gain on sale of medical equipment (2,027) (1,964)
Amortization of intangible assets 2,618 2,734
Amortization of deferred debt issuance costs 620 228
Stock-based compensation expense 1,120 964
Deferred income tax expense (benefit) 1,180 (906)
Changes in Assets - (Increase)/Decrease:    
Accounts receivable (8,720) (6,490)
Inventories 105 (30)
Other current assets 166 249
Other assets (92) 664
Changes in Liabilities - Increase/(Decrease):    
Accounts payable and other liabilities (1,078) (335)
NET CASH PROVIDED BY OPERATING ACTIVITIES 7,463 5,452
INVESTING ACTIVITIES    
Purchases of medical equipment and property (5,962) (6,542)
Proceeds from sale of medical equipment and property 3,800 3,978
Other asset acquisitions   6
NET CASH USED IN INVESTING ACTIVITIES (2,162) (2,558)
FINANCING ACTIVITIES    
Principal payments on term loans and capital lease obligations (4,504) (9,631)
Payoff of bank loan and revolver   (25,851)
Cash proceeds from bank loans and revolving credit facility 36,166 37,101
Payments on revolving credit facility (38,072)  
Payments for debt issuance costs   (2,842)
Common stock repurchased to satisfy taxes on stock based compensation (79) (144)
NET CASH USED IN FINANCING ACTIVITIES (6,489) (1,367)
Net change in cash and cash equivalents (1,188) 1,527
Cash and cash equivalents, beginning of year 2,326 799
Cash and cash equivalents, end of year 1,138 2,326
SUPPLEMENTAL DISCLOSURES    
Cash paid for interest 2,668 3,112
Cash paid for income taxes 549 79
NON-CASH TRANSACTIONS    
Additions to medical equipment and property 266 [1] 121 [1]
Medical equipment acquired pursuant to a capital lease $ 2,541 $ 522
[1] Amounts consist of current liabilities for medical equipment that have not been included in investing activities. These amounts have not been paid for as of December 31, 2013 and 2012, respectively, but will be included as a cash outflow from investing activities for purchases of medical equipment and property when paid.