Providence Service Corporation Announces 35% Revenue Growth with Third Quarter Results; Increases Revenue Guidanc...(100 - Changes in oper...),Health

Changes in operating assets and liabilities,

net of effects of acquisitions:

Billed and unbilled accounts receivable,

net (1,262) (11,672)

Management fee receivable (2,520) (157)

Other receivable (2,165) (37)

Reinsurance liability reserve 1,294 1,445

Prepaid expenses and other (3,328) 147

Accounts payable and accrued expenses (34) (1,234)

Deferred revenue 727 510

Net cash provided by (used in) operating

activities 6,984 (1,214)

Investing activities

Purchase of property and equipment (1,072) (716)

Acquisition of businesses, net of cash

acquired (9,225) (13,566)

Acquisition earn out payments (8,299) -

Restricted cash for contract performance (937) (3,390)

Purchase of short-term investments, net (237) (81)

Working capital advances to third party - (195)

Collection of notes receivable 455 51

Net cash used in investing activities (19,315) (17,897)

Financing activities

Repurchase of common stock (10,960) -

Proceeds from common stock issued pursuant

to stock option exercise 1,857 6,369

Excess tax benefit upon exercise of stock

options 540 1,840

Proceeds from common stock offering, net - 59,593
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