Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Restatement to on the company's consolidated statements of income
The following is a summary of the impact of the change on the previously reported amounts in the consolidated statements of cash flows:
 
Nine Months Ended September 30, 2013
 
As Reported
 
Adjustment
 
Revised
Cash flows from operating activities
$
(15,112
)
 
$
(30,201
)
 
$
(45,313
)
Cash flows from investing activities
$
(42,941
)
 
$
—

 
$
(42,941
)
Cash flows from financing activities
$
13,121

 
$
30,201

 
$
43,322

Changes in Allowance for Doubtful Accounts
Changes in the allowance for doubtful accounts are as follows:
 
Nine Months Ended September 30,
 
2014

2013
Allowance for doubtful accounts, beginning of period
$
1,519

 
$
1,174

Charges to costs and expenses
1,253

 
509

Account write-offs and other
(674
)
 
(63
)
Allowance for doubtful accounts, end of period
$
2,098

 
$
1,620

Estimated Useful Lives of Property and Equipment
Depreciation and amortization of property and equipment are computed on a straight-line basis over the following estimated useful lives:
Asset Classification
 
Estimated Useful Life
Furniture and office equipment
 
Five years
Computer equipment and software costs
 
Three to five years
Leasehold improvements
 
Lesser of term of lease or five years
Automobiles
 
Five years
Land
 
Unlimited
Schedule of Earnings Per Share, Basic and Diluted
Basic earnings per share is calculated using the Company’s weighted-average outstanding common shares, including vested restricted shares. When the effects are not anti-dilutive, diluted earnings per share is calculated using: the weighted-average outstanding common shares; the dilutive effect of convertible preferred stock, under the “if converted” method; and the treasury stock method with regard to warrants and stock options; all as determined under the treasury stock method.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Net income
$
7,291

 
$
4,545

 
$
1,729

 
$
840

Basic weighted-average shares outstanding
46,315,968

 
45,621,552

 
46,098,158

 
45,472,517

Effect of dilutive securities:
 
 
 
 
 
 
 
Stock options
671,554

 
983,808

 
538,371

 
917,951

Diluted weighted-average shares outstanding
46,987,522

 
46,605,360

 
46,636,529

 
46,390,468