Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net (loss) income $ (2,183) $ 2,199
Less: (loss) income on discontinued operations (198) 180
(Loss) income from continuing operations (1,985) 2,019
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization 3,443 2,332
Amortization of debt discount 12 121
Amortization of fair value of customer contracts (1,943) 0
Deferred tax (benefit) expense (959) 1,227
Provision (benefit) for bad debt and other reserves 43 (15)
Gain on disposal of plant, property and equipment (3) 0
Foreign exchange gain 2 0
Issuance of Common Stock for services 102 108
Stock-based compensation 98 192
Changes in operating assets and liabilities of continuing operations, net of effect from business acquisitions:    
Accounts receivable 2,031 (6,322)
Unbilled receivables (3,632) (322)
Prepaid expenses, inventories and other assets 651 667
Accounts payable, accrued expenses and unearned revenue (6,557) 4,126
Cash (used in) provided by continuing operations (8,697) 4,133
Cash used in discontinued operations (372) (31)
Cash (used in) provided by operating activitiesctivities (9,069) 4,102
Cash flows from investing activities:    
Purchases of property and equipment (387) (1,689)
Change in restricted cash, net 1,500 0
Proceeds from sale of plant, property and equipment 3 0
Payments to finite risk sinking fund (1,899) (1,905)
Cash used in investing activities of continuing operations (783) (3,594)
Cash used in investing activities of discontinued operations 0 (135)
Net cash used in investing activities (783) (3,729)
Cash flows from financing activities:    
Net borrowing of revolving credit 643 1,047
Principal repayments of long term debt (2,134) (2,124)
Proceeds from finite risk financing 565 685
Cash used in financing activities of continuing operations (926) (392)
Principal repayments of long term debt for discontinued operations (17) (55)
Cash used in financing activities (943) (447)
Decrease in cash (10,795) (74)
Cash at beginning of period 12,055 101
Cash at end of period 1,260 27
Supplemental disclosure:    
Interest paid 479 409
Income taxes paid 470 70
Non-cash investing and financing activities:    
Warrants extension for debt modification $ 0 $ 36