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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 06, 2025 |
ENTRAVISION COMMUNICATIONS CORPORATION
(Exact name of Registrant as Specified in Its Charter)
Delaware |
001-15997 |
95-4783236 |
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(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
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1 Estrella Way |
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Burbank, California |
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91504 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
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Registrant’s Telephone Number, Including Area Code: 310 447-3870 |
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Class A Common Stock |
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EVC |
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The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On March 6, 2025, Entravision Communications Corporation (the “Company”) issued a press release announcing its results of operations for the three- and twelve-month periods ended December 31, 2024. A copy of that press release is furnished herewith as Exhibit 99.1.
The information provided pursuant to Item 2.02 in this Current Report on Form 8-K, including the exhibit thereto, is being furnished under Item 2.02 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference into any future registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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ENTRAVISION COMMUNICATIONS CORPORATION |
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Date: |
March 6, 2025 |
By: |
/s/ Michael J. Christenson |
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Michael J. Christenson |
Entravision Communications
Page 1 of 6
Exhibit 99.1
ENTRAVISION COMMUNICATIONS CORPORATION REPORTS
FOURTH QUARTER AND FULL YEAR 2024 RESULTS
SANTA MONICA, CALIFORNIA, March 6, 2025 – Entravision Communications Corporation (NYSE: EVC), a media and advertising technology company, today announced financial results for its fourth quarter and fiscal year ended December 31, 2024.
"We achieved net revenue growth of 37% and 23% during the fourth quarter and full year 2024, respectively, compared to the same periods in 2023, driven primarily by record political advertising revenue in our Media segment and advertising revenue in our Advertising Technology & Services segment," said Michael Christenson, Chief Executive Officer. "Our balance sheet remains strong, and as we look forward to fiscal year 2025 and beyond we continue to focus on providing highly-rated news and content to our audiences, strengthening our digital marketing solutions in combination with our television and radio offerings, and continuing to grow our Advertising Technology & Services segment."
Highlights
Entravision Communications
Page 2 of 6
About Entravision Communications Corporation
Entravision is a media and advertising technology company. In the U.S., we maintain a diversified portfolio of television and radio stations and digital advertising services that target Latino audiences. Our advertising technology business consists of Smadex, our programmatic ad purchasing platform, and Adwake, our mobile growth solutions business. Entravision is the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.
Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.
For more information, please contact:
Mark Boelke |
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Roy Nir |
Chief Financial Officer |
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VP, Financial Reporting and Investor Relations |
Entravision |
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Entravision |
310-447-3870 |
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310-447-3870 |
ir@entravision.com |
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ir@entravision.com |
# # #
(Financial Tables Follow)
Entravision Communications
Page 3 of 6
Entravision Communications Corporation
Segment Results (Unaudited)
(In thousands)
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Three-Month Ended |
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|
|
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Year Ended |
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December 31, |
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December 31, |
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||||||||||||
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2024 |
|
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2023 |
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% Change |
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2024 |
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2023 |
|
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% Change |
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||||||
Net Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Media |
|
$ |
67,260 |
|
|
$ |
51,654 |
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|
|
30 |
% |
|
$ |
222,061 |
|
|
$ |
196,268 |
|
|
|
13 |
% |
Advertising Technology & Services |
|
|
39,702 |
|
|
|
26,602 |
|
|
|
49 |
% |
|
|
142,887 |
|
|
|
100,775 |
|
|
|
42 |
% |
Consolidated |
|
|
106,962 |
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|
|
78,256 |
|
|
|
37 |
% |
|
|
364,948 |
|
|
|
297,043 |
|
|
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23 |
% |
Cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Media |
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$ |
4,838 |
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$ |
3,291 |
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|
47 |
% |
|
$ |
16,726 |
|
|
$ |
10,952 |
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|
53 |
% |
Advertising Technology & Services |
|
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23,475 |
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|
|
16,013 |
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|
|
47 |
% |
|
|
85,470 |
|
|
|
66,262 |
|
|
|
29 |
% |
Consolidated |
|
|
28,313 |
|
|
|
19,304 |
|
|
|
47 |
% |
|
|
102,196 |
|
|
|
77,214 |
|
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|
32 |
% |
Direct operating expenses |
|
|
|
|
|
|
|
|
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||||||
Media |
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28,583 |
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24,921 |
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15 |
% |
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110,988 |
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|
96,925 |
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15 |
% |
Advertising Technology & Services |
|
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8,505 |
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|
4,150 |
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|
105 |
% |
|
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25,274 |
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|
16,306 |
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|
55 |
% |
Consolidated |
|
|
37,088 |
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|
|
29,071 |
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|
28 |
% |
|
|
136,262 |
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|
113,231 |
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20 |
% |
Selling, general and administrative expenses |
|
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|
|
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|
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|
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Media |
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12,159 |
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8,961 |
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36 |
% |
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42,759 |
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|
|
36,000 |
|
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|
19 |
% |
Advertising Technology & Services |
|
|
4,900 |
|
|
|
3,437 |
|
|
|
43 |
% |
|
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20,109 |
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|
|
13,761 |
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|
|
46 |
% |
Consolidated |
|
|
17,059 |
|
|
|
12,398 |
|
|
|
38 |
% |
|
|
62,868 |
|
|
|
49,761 |
|
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26 |
% |
Depreciation and amortization |
|
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|
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|
|
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Media |
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3,135 |
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3,013 |
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4 |
% |
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12,891 |
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11,975 |
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|
8 |
% |
Advertising Technology & Services |
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637 |
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|
|
1,431 |
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(55 |
)% |
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3,930 |
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|
|
4,417 |
|
|
|
(11 |
)% |
Consolidated |
|
|
3,772 |
|
|
|
4,444 |
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|
|
(15 |
)% |
|
|
16,821 |
|
|
|
16,392 |
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3 |
% |
Segment operating profit (loss) |
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Media |
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18,545 |
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11,468 |
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62 |
% |
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38,697 |
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|
40,416 |
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(4 |
)% |
Advertising Technology & Services |
|
|
2,185 |
|
|
|
1,571 |
|
|
|
39 |
% |
|
|
8,104 |
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|
|
29 |
|
|
* |
|
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Consolidated |
|
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20,730 |
|
|
|
13,039 |
|
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|
59 |
% |
|
|
46,801 |
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|
|
40,445 |
|
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|
16 |
% |
Corporate expenses |
|
|
7,509 |
|
|
|
14,458 |
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(48 |
)% |
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|
37,498 |
|
|
|
50,294 |
|
|
|
(25 |
)% |
Change in fair value of contingent consideration |
|
|
1 |
|
|
|
200 |
|
|
|
(100 |
)% |
|
|
(629 |
) |
|
|
821 |
|
|
* |
|
|
Impairment charge |
|
|
61,220 |
|
|
|
12,278 |
|
|
|
399 |
% |
|
|
61,220 |
|
|
|
13,267 |
|
|
|
361 |
% |
Foreign currency (gain) loss |
|
|
572 |
|
|
|
676 |
|
|
|
(15 |
)% |
|
|
692 |
|
|
|
1,950 |
|
|
|
(65 |
)% |
Other operating (gain) loss |
|
|
— |
|
|
|
609 |
|
|
|
(100 |
)% |
|
|
— |
|
|
|
609 |
|
|
|
(100 |
)% |
Operating income (loss) |
|
|
(48,572 |
) |
|
|
(15,182 |
) |
|
|
220 |
% |
|
|
(51,980 |
) |
|
|
(26,496 |
) |
|
|
96 |
% |
Interest expense |
|
|
(3,824 |
) |
|
|
(4,369 |
) |
|
|
(12 |
)% |
|
|
(16,472 |
) |
|
|
(16,833 |
) |
|
|
(2 |
)% |
Interest income |
|
|
657 |
|
|
|
1,009 |
|
|
|
(35 |
)% |
|
|
2,458 |
|
|
|
3,405 |
|
|
|
(28 |
)% |
Dividend income |
|
|
— |
|
|
|
3 |
|
|
|
(100 |
)% |
|
|
10 |
|
|
|
35 |
|
|
|
(71 |
)% |
Realized gain (loss) on marketable securities |
|
|
— |
|
|
|
1 |
|
|
|
(100 |
)% |
|
|
(110 |
) |
|
|
(93 |
) |
|
|
18 |
% |
Gain (loss) on debt extinguishment |
|
|
— |
|
|
|
— |
|
|
* |
|
|
|
(91 |
) |
|
|
(1,556 |
) |
|
|
(94 |
)% |
|
Income (loss) before income taxes from continuing operations |
|
$ |
(51,739 |
) |
|
$ |
(18,538 |
) |
|
|
179 |
% |
|
$ |
(66,185 |
) |
|
$ |
(41,538 |
) |
|
|
59 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Capital expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Media |
|
$ |
2,543 |
|
|
$ |
6,148 |
|
|
|
|
|
$ |
7,089 |
|
|
$ |
21,208 |
|
|
|
|
||
Advertising Technology & Services |
|
|
74 |
|
|
|
1,043 |
|
|
|
|
|
|
372 |
|
|
|
3,643 |
|
|
|
|
||
Consolidated |
|
$ |
2,617 |
|
|
$ |
7,191 |
|
|
|
|
|
$ |
7,461 |
|
|
$ |
24,851 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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||||||
Entravision Communications
Page 4 of 6
Entravision Communications Corporation
Consolidated Statements of Operations (Unaudited)
(In thousands, except share and per share data)
|
|
Three-Month Period |
|
|
Twelve-Month Period |
|
||||||||||
|
|
Ended December 31, |
|
|
Ended December 31, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net revenue |
|
$ |
106,962 |
|
|
$ |
78,256 |
|
|
$ |
364,948 |
|
|
$ |
297,043 |
|
Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of revenue |
|
|
28,313 |
|
|
|
19,304 |
|
|
|
102,196 |
|
|
|
77,214 |
|
Direct operating expenses |
|
|
37,088 |
|
|
|
29,071 |
|
|
|
136,262 |
|
|
|
113,231 |
|
Selling, general and administrative expenses |
|
|
17,059 |
|
|
|
12,398 |
|
|
|
62,868 |
|
|
|
49,761 |
|
Corporate expenses |
|
|
7,509 |
|
|
|
14,458 |
|
|
|
37,498 |
|
|
|
50,294 |
|
Depreciation and amortization |
|
|
3,772 |
|
|
|
4,444 |
|
|
|
16,821 |
|
|
|
16,392 |
|
Change in fair value of contingent consideration |
|
|
1 |
|
|
|
200 |
|
|
|
(629 |
) |
|
|
821 |
|
Impairment charge |
|
|
61,220 |
|
|
|
12,278 |
|
|
|
61,220 |
|
|
|
13,267 |
|
Foreign currency (gain) loss |
|
|
572 |
|
|
|
676 |
|
|
|
692 |
|
|
|
1,950 |
|
Other operating (gain) loss |
|
|
— |
|
|
|
609 |
|
|
|
— |
|
|
|
609 |
|
|
|
|
155,534 |
|
|
|
93,438 |
|
|
|
416,928 |
|
|
|
323,539 |
|
Operating income (loss) |
|
|
(48,572 |
) |
|
|
(15,182 |
) |
|
|
(51,980 |
) |
|
|
(26,496 |
) |
Interest expense |
|
|
(3,824 |
) |
|
|
(4,369 |
) |
|
|
(16,472 |
) |
|
|
(16,833 |
) |
Interest income |
|
|
657 |
|
|
|
1,009 |
|
|
|
2,458 |
|
|
|
3,405 |
|
Dividend income |
|
|
— |
|
|
|
3 |
|
|
|
10 |
|
|
|
35 |
|
Realized gain (loss) on marketable securities |
|
|
— |
|
|
|
1 |
|
|
|
(110 |
) |
|
|
(93 |
) |
Gain (loss) on debt extinguishment |
|
|
— |
|
|
|
— |
|
|
|
(91 |
) |
|
|
(1,556 |
) |
Income before income taxes |
|
|
(51,739 |
) |
|
|
(18,538 |
) |
|
|
(66,185 |
) |
|
|
(41,538 |
) |
Income tax (expense) benefit |
|
|
(3,932 |
) |
|
|
5,337 |
|
|
|
(4,105 |
) |
|
|
8,392 |
|
Net income (loss) from continuing operations |
|
|
(55,671 |
) |
|
|
(13,201 |
) |
|
|
(70,290 |
) |
|
|
(33,146 |
) |
Income (loss) from discontinued operations |
|
|
(687 |
) |
|
|
(5,007 |
) |
|
|
(78,618 |
) |
|
|
17,709 |
|
Net income (loss) attributable to common stockholders |
|
$ |
(56,358 |
) |
|
$ |
(18,208 |
) |
|
$ |
(148,908 |
) |
|
$ |
(15,437 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic and diluted earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income (loss) per share attributable to common stockholders, basic and diluted |
|
$ |
(0.62 |
) |
|
$ |
(0.21 |
) |
|
$ |
(1.66 |
) |
|
$ |
(0.18 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash dividends declared per common share, basic and diluted |
|
$ |
0.05 |
|
|
$ |
0.05 |
|
|
$ |
0.20 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average common shares outstanding, basic and diluted |
|
|
90,175,742 |
|
|
|
88,193,240 |
|
|
|
89,876,538 |
|
|
|
87,901,938 |
|
Entravision Communications
Page 5 of 6
Entravision Communications Corporation
Consolidated Balance Sheets (Unaudited)
(In thousands)
|
|
December 31, |
|
|
December 31, |
|
||
|
|
2024 |
|
|
2023 |
|
||
ASSETS |
|
|
|
|
|
|
||
Current assets |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
95,914 |
|
|
$ |
67,398 |
|
Marketable securities |
|
|
4,694 |
|
|
|
13,172 |
|
Restricted Cash |
|
|
786 |
|
|
|
770 |
|
Trade receivables, net of allowance for doubtful accounts |
|
|
68,319 |
|
|
|
70,082 |
|
Assets held for sale |
|
|
— |
|
|
|
301 |
|
Prepaid expenses and other current assets |
|
|
16,587 |
|
|
|
16,863 |
|
Current assets of discontinued operations |
|
|
— |
|
|
|
217,269 |
|
Total current assets |
|
|
186,300 |
|
|
|
385,855 |
|
Property and equipment, net |
|
|
60,616 |
|
|
|
66,932 |
|
Intangible assets subject to amortization, net |
|
|
4,417 |
|
|
|
7,100 |
|
Intangible assets not subject to amortization |
|
|
177,276 |
|
|
|
195,174 |
|
Goodwill |
|
|
7,352 |
|
|
|
50,674 |
|
Deferred income taxes |
|
|
2,650 |
|
|
|
265 |
|
Operating leases right of use asset |
|
|
40,762 |
|
|
|
42,868 |
|
Other assets |
|
|
7,905 |
|
|
|
21,223 |
|
Noncurrent assets of discontinued operations |
|
|
— |
|
|
|
95,855 |
|
Total assets |
|
$ |
487,278 |
|
|
$ |
865,946 |
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
||
Current liabilities |
|
|
|
|
|
|
||
Current maturities of long-term debt |
|
$ |
- |
|
|
$ |
8,750 |
|
Accounts payable and accrued expenses |
|
|
53,882 |
|
|
|
47,776 |
|
Operating lease liabilities |
|
|
7,744 |
|
|
|
6,748 |
|
Current liabilities of discontinued operations |
|
|
— |
|
|
|
208,779 |
|
Total current liabilities |
|
|
61,626 |
|
|
|
272,053 |
|
Long-term debt, less current maturities, net of unamortized debt issuance costs |
|
|
186,958 |
|
|
|
197,884 |
|
Long-term operating lease liabilities |
|
|
42,101 |
|
|
|
45,178 |
|
Other long-term liabilities |
|
|
12,168 |
|
|
|
4,624 |
|
Deferred income taxes |
|
|
38,405 |
|
|
|
46,849 |
|
Noncurrent liabilities of discontinued operations |
|
|
— |
|
|
|
33,072 |
|
Total liabilities |
|
|
341,258 |
|
|
|
599,660 |
|
|
|
|
|
|
|
|
||
Redeemable noncontrolling interest - discontinued operations |
|
|
— |
|
|
|
43,758 |
|
|
|
|
|
|
|
|
||
Stockholders' equity |
|
|
|
|
|
|
||
Class A common stock |
|
|
8 |
|
|
|
8 |
|
Class U common stock |
|
|
1 |
|
|
|
1 |
|
Additional paid-in capital |
|
|
815,532 |
|
|
|
743,246 |
|
Accumulated deficit |
|
|
(668,720 |
) |
|
|
(519,812 |
) |
Accumulated other comprehensive income (loss) |
|
|
(801 |
) |
|
|
(915 |
) |
Total stockholders' equity |
|
|
146,020 |
|
|
|
222,528 |
|
Total liabilities, redeemable noncontrolling interest and equity |
|
$ |
487,278 |
|
|
$ |
865,946 |
|
Entravision Communications
Page 6 of 6
Entravision Communications Corporation
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
|
|
Three-Month Period |
|
|
Twelve-Month Period |
|
||||||||||
|
|
Ended December 31, |
|
|
Ended December 31, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income (loss) |
|
$ |
(56,358 |
) |
|
$ |
(18,208 |
) |
|
$ |
(148,908 |
) |
|
$ |
(15,437 |
) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Depreciation and amortization |
|
|
3,772 |
|
|
|
7,671 |
|
|
|
20,779 |
|
|
|
28,007 |
|
Impairment charge |
|
|
61,220 |
|
|
|
12,278 |
|
|
|
110,658 |
|
|
|
13,267 |
|
Deferred income taxes |
|
|
(6,995 |
) |
|
|
(10,796 |
) |
|
|
(10,281 |
) |
|
|
(10,965 |
) |
Non-cash interest |
|
|
61 |
|
|
|
91 |
|
|
|
284 |
|
|
|
355 |
|
Amortization of syndication contracts |
|
|
111 |
|
|
|
113 |
|
|
|
450 |
|
|
|
471 |
|
Payments on syndication contracts |
|
|
(114 |
) |
|
|
(114 |
) |
|
|
(451 |
) |
|
|
(480 |
) |
Non-cash stock-based compensation |
|
|
1,426 |
|
|
|
6,645 |
|
|
|
13,848 |
|
|
|
23,698 |
|
(Gain) loss on marketable securities |
|
|
— |
|
|
|
(1 |
) |
|
|
110 |
|
|
|
93 |
|
(Gain) loss on disposal of property and equipment |
|
|
71 |
|
|
|
748 |
|
|
|
277 |
|
|
|
737 |
|
Loss (gain) on the sale of businesses |
|
|
48 |
|
|
|
— |
|
|
|
45,187 |
|
|
|
— |
|
(Gain) loss on debt extinguishment |
|
|
— |
|
|
|
— |
|
|
|
91 |
|
|
|
1,556 |
|
Change in fair value of contingent consideration |
|
|
— |
|
|
|
6,400 |
|
|
|
(13,198 |
) |
|
|
(2,539 |
) |
Net income (loss) attributable to redeemable noncontrolling interest - discontinued operations |
|
|
— |
|
|
|
157 |
|
|
|
(2,779 |
) |
|
|
158 |
|
Net income (loss) attributable to noncontrolling interest - discontinued operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(342 |
) |
Changes in assets and liabilities, net of businesses acquired and disposed of: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
(Increase) decrease in trade receivables, net |
|
|
(519 |
) |
|
|
(25,508 |
) |
|
|
10,092 |
|
|
|
(9,247 |
) |
(Increase) decrease in prepaid expenses and other current assets, operating leases right of use asset and other assets |
|
|
11,806 |
|
|
|
15,025 |
|
|
|
9,878 |
|
|
|
7,826 |
|
Increase (decrease) in accounts payable, accrued expenses and other liabilities |
|
|
(1,746 |
) |
|
|
11,578 |
|
|
|
38,668 |
|
|
|
38,038 |
|
Net cash provided by operating activities |
|
|
12,783 |
|
|
|
6,079 |
|
|
|
74,705 |
|
|
|
75,196 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Proceeds from sale of assets/business, net of cash divested |
|
|
2,486 |
|
|
|
175 |
|
|
|
(40,481 |
) |
|
|
258 |
|
Purchases of property and equipment |
|
|
(2,174 |
) |
|
|
(7,446 |
) |
|
|
(8,463 |
) |
|
|
(27,327 |
) |
Purchase of businesses, net of cash acquired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(6,930 |
) |
Purchases of marketable securities |
|
|
(2,303 |
) |
|
|
— |
|
|
|
(2,303 |
) |
|
|
(11,355 |
) |
Proceeds from sale of marketable securities |
|
|
408 |
|
|
|
5,242 |
|
|
|
10,789 |
|
|
|
43,335 |
|
Proceeds from loan receivable |
|
|
2,888 |
|
|
|
— |
|
|
|
13,636 |
|
|
|
— |
|
Purchases of investments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(300 |
) |
Issuance of loan receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(13,636 |
) |
Net cash provided by (used in) investing activities |
|
|
1,305 |
|
|
|
(2,029 |
) |
|
|
(26,822 |
) |
|
|
(15,955 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Proceeds from stock option exercises |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
554 |
|
Tax payments related to shares withheld for share-based compensation plans |
|
|
(2,537 |
) |
|
|
(3,899 |
) |
|
|
(2,564 |
) |
|
|
(4,057 |
) |
Payments on debt |
|
|
— |
|
|
|
(1,250 |
) |
|
|
(20,275 |
) |
|
|
(215,745 |
) |
Dividends paid |
|
|
(4,504 |
) |
|
|
(4,406 |
) |
|
|
(17,975 |
) |
|
|
(17,588 |
) |
Distributions to noncontrolling interest |
|
|
— |
|
|
|
— |
|
|
|
(1,078 |
) |
|
|
(3,380 |
) |
Payment of contingent consideration |
|
|
(1,350 |
) |
|
|
— |
|
|
|
(15,650 |
) |
|
|
(35,113 |
) |
Principal payments under finance lease obligation |
|
|
(38 |
) |
|
|
(39 |
) |
|
|
(148 |
) |
|
|
(152 |
) |
Proceeds from borrowings on debt |
|
|
— |
|
|
|
667 |
|
|
|
— |
|
|
|
213,087 |
|
Payments for debt issuance costs |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,777 |
) |
Net cash used in financing activities |
|
|
(8,429 |
) |
|
|
(8,927 |
) |
|
|
(57,690 |
) |
|
|
(64,171 |
) |
Effect of exchange rates on cash, cash equivalents and restricted cash |
|
|
— |
|
|
|
(3 |
) |
|
|
(2 |
) |
|
|
(5 |
) |
Net increase (decrease) in cash, cash equivalents and restricted cash |
|
|
5,659 |
|
|
|
(4,880 |
) |
|
|
(9,809 |
) |
|
|
(4,935 |
) |
Cash, cash equivalents and restricted cash: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Beginning |
|
|
91,041 |
|
|
|
111,389 |
|
|
|
106,509 |
|
|
|
111,444 |
|
Ending |
|
$ |
96,700 |
|
|
$ |
106,509 |
|
|
$ |
96,700 |
|
|
$ |
106,509 |
|