in particular , it facilitates comparisons of the core operating performance of our company from period to period on a consistent basis and helps us to identify underlying trends in our business . we believe it provides useful information about our operating results , enhances the overall understanding of our past performance and future prospects and allows for greater transparency with respect to key metrics used by the management in our financial and operational decision-making . we use this measure to establish operational goals for managing our business and evaluating our performance . adjusted ebitda has limitations as an analytical tool and should not be considered in isolation or as a substitute for results reported under gaap . some of these limitations are : · adjusted ebitda does not reflect tax payments and such payments reflect a reduction in cash available to us ; · adjusted ebitda does not reflect changes in , or cash requirements for , our working capital needs and for our cash expenditures or future requirements for capital expenditures or contractual commitments ; · adjusted ebitda excludes the potential dilutive impact of stock-based compensation expense related to our workforce , interest income ( expense ) and net loss attributable to noncontrolling interests , and these items may represent a reduction or increase in cash available to us ; 27 · although depreciation and amortization are non-cash charges , the assets being depreciated and amortized may have to be replaced in the future , and adjusted ebitda does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements ; and · other companies , including companies in our own industry , may calculate adjusted ebitda differently from our calculation , limiting its usefulness as a comparative measure . adjusted ebitda should be considered as a supplement to , and not as a substitute for , or superior to , gaap net income . the following table shows a reconciliation from net income ( loss ) to adjusted ebitda for the periods presented ( in thousands ) : replace_table_token_5_th results of operations we acquired mediamiser on july 28 , 2014. the results of operations reflect the operations of mediamiser only for the period beginning on july 29 , 2014 and ending on december 31 , 2014. we acquired bulldog reporter on december 23 , 2014. the results of operations reflect the operations of bulldog reporter only for the period beginning on december 24 , 2014 and ending on december 31 , 2014. year ended december 31 , 2014 compared to the year ended december 31 , 2013 revenues total revenues were $ 59.1 million for the year ended december 31 , 2014 , an 8 % decline from $ 64.2 million for the year ended december 31 , 2013. revenues from the cs segment were $ 56.8 million and $ 63.1 million for the years ended december 31 , 2014 and 2013 , respectively . revenues from the iads segment were $ 0.6 million and $ 1.1 million for the years ended december 31 , 2014 and 2013 , respectively . revenues from the mis segment were $ 1.7 million for the year ended december 31 , 2014. the $ 6.3 million revenue decrease in the cs segment is principally attributable to a $ 5.4 million decline in revenues from non e-book related services that we perform for one of our significant clients and by a $ 0.9 million decrease in revenues from our e-book related services . two clients generated approximately 27 % , 26 % and 41 % of our total revenues in the fiscal years ended december 31 , 2014 , 2013 and 2012 , respectively . another client accounted for 14 % and 15 % of our total revenues for the year ended december 31 , 2014 and 2013 , respectively , but accounted for less than 10 % for the years ended december 31 , 2012. one other client accounted for less than 10 % of our total revenues for the years ended december 31 , 2014 and 2012 but accounted for 15 % of our total revenues for the year ended december 31 , 2013. no other client accounted for 10 % or more of total revenues during these periods . further , in the years ended december 31 , 2014 , 2013 and 2012 , revenues from non-us clients accounted for 47 % , 35 % and 24 % , respectively , of our revenues . 28 direct operating costs direct operating costs were approximately $ 43.9 million and $ 49.1 million for the years ended december 31 , 2014 and 2013 , respectively , a decrease of $ 5.2 million or approximately 11 % . direct operating costs for the cs segment were $ 38.4 million and $ 43.9 million for the years ended december 31 , 2014 and 2013 , respectively , a decrease of $ 5.5 million or approximately 13 % . direct operating costs for the iads segment were approximately $ 4.5 million and $ 5.2 million for the respective periods , net of intersegment profits . direct operating costs for the mis segment was $ 1.0 million for the year ended december 31 , 2014. direct operating costs as a percentage of total revenues decreased to 74 % for the year ended december 31 , 2014 compared to 76 % for the year ended december 31 , 2013. direct operating costs for the cs segment as a percentage of cs segment revenues were 68 % for the year ended december 31 , 2014 compared to 70 % for the year ended december 31 , 2013. the decline in direct operating costs for the cs segment and as a percentage of cs segment revenues was principally attributable to a decrease in production headcount due to a decline in cs revenues and a restructuring of our operations , and achieving productivity gains . story_separator_special_tag selling and administrative costs for the cs segment were $ 15.2 million and $ 19.3 million in these respective periods . selling and administrative expenses for the iads segment for the respective periods were $ 2.1 million and $ 2.9 million , net of intersegment profits . we restructured our operations during the fourth quarter of 2012 and the first half of 2013 , resulting in cost savings in the second half of 2013. this led to a decline in selling and administrative expenses for the cs segment during the year ended december 31 , 2013 compared to the year ended december 31 , 2012. selling and administrative expenses for the cs segment , as a percentage of cs segment revenues , increased to 24 % for the year ended december 31 , 2013 , from 23 % for the year ended 2012 , primarily as a result of lower revenues and the fixed component of our selling and administrative expenses . a significant portion of our selling and administrative expenses is fixed in nature . the decline in selling and administrative expenses for the iads segment is primarily on account of restructuring our docgenix operations in the fourth quarter of 2012. income taxes for the year ended december 31 , 2013 , we recorded a provision for income taxes in accordance with local tax regulations for our foreign subsidiaries . some of our foreign subsidiaries are subject to tax holidays or preferential tax rates which reduce our overall effective tax rate when compared to the u.s. statutory tax rate . in addition , the earnings of our foreign subsidiaries are not subject to tax in the u.s. unless the earnings are repatriated . the synodex subsidiary of our iads segment has not achieved significant revenue to date and has incurred losses since inception . our u.s. entity incurred losses primarily on account of the losses of synodex . in assessing the realization of deferred tax assets , we considered whether it is more likely than not that all or some portion of the u.s. deferred tax assets will not be realizable . as the expectation of future taxable income resulting from synodex could not be predicted with certainty , we created a valuation allowance against all the u.s. deferred tax assets starting in the third quarter of 2013 . as of december 31 , 2013 , we maintained a valuation allowance of $ 8.1 million against all of our u.s. deferred tax assets . for the year ended december 31 , 2012 , our u.s. entity recorded a benefit from income tax on account of losses incurred by our u.s. entity . with respect to our foreign subsidiaries , we recorded a provision for income taxes in accordance with the local tax regulations . as some of our foreign subsidiaries are subject to tax holidays or preferential tax rates , our overall effective tax rate was lower compared to the u.s. statutory tax rate . in addition , the earnings of our foreign subsidiaries are not subject to tax in the u.s. unless the earnings are repatriated . 33 beginning in 2002 , unremitted earnings of foreign subsidiaries have been included in the consolidated financial statements without giving effect to the united states taxes that may be payable on distribution to the united states , because such earnings are not anticipated to be remitted to the united states . if such earnings were to be distributed , we could be subject to united states income taxes that may not be fully offset by foreign tax credits . it is not practicable at this time to determine the amount of unrecognized deferred tax liability related to these earnings . in january 2013 , one of our philippine subsidiaries received an informal tax assessment from the internal revenue service of the philippines for an amount totaling $ 3.8 million for the year ended december 31 , 2009. we disagreed with the basis of the informal tax assessment and contested it vigorously . the ultimate outcome was favorable , and , accordingly , we did not record any tax provision . we had unrecognized tax benefits of $ 2.5 million and $ 2.4 million at december 31 , 2013 and 2012 , respectively . the portion of unrecognized tax benefits relating to interest and penalties was $ 0.8 million and $ 0.7 million at december 31 , 2013 and 2012 , respectively . the unrecognized tax benefits as of december 31 , 2013 and 2012 , if recognized , would have an impact on our effective tax rate . we are subject to various tax audits and claims which arise in the ordinary course of business . management currently believes that the ultimate outcome of these audits and claims will not have a material adverse effect on our consolidated financial position , results of operations or cash flows . net loss we generated a net loss of $ 10.6 million in the year ended december 31 , 2013 , compared to net income of $ 7.5 million in the year ended december 31 , 2012. the loss is primarily attributable to the $ 7.1 million valuation allowance referred to in “ income taxes , ” the $ 5.0 million impairment charge referred to in “ impairment charge , ” a decline in gross margins of the cs segment resulting from lower revenues offset in part by a decline in selling and administrative expenses , and continuing losses from operations of the iads segment . net income for the cs segment was $ 1.2 million for the year ended december 31 , 2013 compared to $ 13.8 million for the year ended december 31 , 2012. net loss for the iads segment was $ 11.8 million for the year ended december 31 , 2013 compared to $ 6.3 million for the year ended december 31 , 2012 , net of intersegment profits . adjusted ebitda adjusted ebitda for the year ended december 31

net cash provided by operating activities cash provided by our operating activities in 2014 was $ 4.6 million , resulting from net loss of $ 1.9 million , adjustments for non-cash items of $ 4.9 million , and $ 1.6 million from working capital . adjustments for non-cash items principally consisted of $ 3.0 million for depreciation and amortization , stock compensation expense of $ 1.2 million , pension costs of $ 0.7 million and an impairment charge of approximately $ 0.4 million . working capital activities primarily consisted of a source of cash of $ 1.9 million as a result of a decrease in accounts receivable and $ 0.7 million used for other working capital accounts . cash provided by our operating activities in 2013 was $ 0.6 million , resulting from a net loss of $ 12.8 million , adjustments for non-cash items of $ 15.2 million , and $ 1.8 million used for working capital . adjustments for non-cash items principally consisted of $ 3.7 million for depreciation and amortization , stock compensation expense of $ 1.0 million and an impairment charge of approximately $ 5.5 million relating to the iads segment . working capital activities primarily consisted of a source of cash of $ 2.4 million as a result of a decrease in accounts receivable , use of cash of $ 1.9 million from a decrease in accrued salaries , wages and related benefits , use of cash of $ 1.2 million from a decrease in income and other taxes and use of cash of $ 1 million from a decrease in accounts payable and accrued expenses . cash provided by our operating activities in 2012 was $ 17.8 million , resulting from net income of $ 5.7 million , adjustments for non-cash items of $ 5.3 million , and $ 6.8 million provided for working capital . adjustments for non-cash items principally consisted of $ 3.9 million for depreciation and amortization , stock compensation expense of $ 1.0 million and an impairment charge of approximately $ 0.5 million relating to the iads segment .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash provided by operating activities cash provided by our operating activities in 2014 was $ 4.6 million , resulting from net loss of $ 1.9 million , adjustments for non-cash items of $ 4.9 million , and $ 1.6 million from working capital . adjustments for non-cash items principally consisted of $ 3.0 million for depreciation and amortization , stock compensation expense of $ 1.2 million , pension costs of $ 0.7 million and an impairment charge of approximately $ 0.4 million . working capital activities primarily consisted of a source of cash of $ 1.9 million as a result of a decrease in accounts receivable and $ 0.7 million used for other working capital accounts . cash provided by our operating activities in 2013 was $ 0.6 million , resulting from a net loss of $ 12.8 million , adjustments for non-cash items of $ 15.2 million , and $ 1.8 million used for working capital . adjustments for non-cash items principally consisted of $ 3.7 million for depreciation and amortization , stock compensation expense of $ 1.0 million and an impairment charge of approximately $ 5.5 million relating to the iads segment . working capital activities primarily consisted of a source of cash of $ 2.4 million as a result of a decrease in accounts receivable , use of cash of $ 1.9 million from a decrease in accrued salaries , wages and related benefits , use of cash of $ 1.2 million from a decrease in income and other taxes and use of cash of $ 1 million from a decrease in accounts payable and accrued expenses . cash provided by our operating activities in 2012 was $ 17.8 million , resulting from net income of $ 5.7 million , adjustments for non-cash items of $ 5.3 million , and $ 6.8 million provided for working capital . adjustments for non-cash items principally consisted of $ 3.9 million for depreciation and amortization , stock compensation expense of $ 1.0 million and an impairment charge of approximately $ 0.5 million relating to the iads segment .
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 Suspicious Activity Report : in particular , it facilitates comparisons of the core operating performance of our company from period to period on a consistent basis and helps us to identify underlying trends in our business . we believe it provides useful information about our operating results , enhances the overall understanding of our past performance and future prospects and allows for greater transparency with respect to key metrics used by the management in our financial and operational decision-making . we use this measure to establish operational goals for managing our business and evaluating our performance . adjusted ebitda has limitations as an analytical tool and should not be considered in isolation or as a substitute for results reported under gaap . some of these limitations are : · adjusted ebitda does not reflect tax payments and such payments reflect a reduction in cash available to us ; · adjusted ebitda does not reflect changes in , or cash requirements for , our working capital needs and for our cash expenditures or future requirements for capital expenditures or contractual commitments ; · adjusted ebitda excludes the potential dilutive impact of stock-based compensation expense related to our workforce , interest income ( expense ) and net loss attributable to noncontrolling interests , and these items may represent a reduction or increase in cash available to us ; 27 · although depreciation and amortization are non-cash charges , the assets being depreciated and amortized may have to be replaced in the future , and adjusted ebitda does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements ; and · other companies , including companies in our own industry , may calculate adjusted ebitda differently from our calculation , limiting its usefulness as a comparative measure . adjusted ebitda should be considered as a supplement to , and not as a substitute for , or superior to , gaap net income . the following table shows a reconciliation from net income ( loss ) to adjusted ebitda for the periods presented ( in thousands ) : replace_table_token_5_th results of operations we acquired mediamiser on july 28 , 2014. the results of operations reflect the operations of mediamiser only for the period beginning on july 29 , 2014 and ending on december 31 , 2014. we acquired bulldog reporter on december 23 , 2014. the results of operations reflect the operations of bulldog reporter only for the period beginning on december 24 , 2014 and ending on december 31 , 2014. year ended december 31 , 2014 compared to the year ended december 31 , 2013 revenues total revenues were $ 59.1 million for the year ended december 31 , 2014 , an 8 % decline from $ 64.2 million for the year ended december 31 , 2013. revenues from the cs segment were $ 56.8 million and $ 63.1 million for the years ended december 31 , 2014 and 2013 , respectively . revenues from the iads segment were $ 0.6 million and $ 1.1 million for the years ended december 31 , 2014 and 2013 , respectively . revenues from the mis segment were $ 1.7 million for the year ended december 31 , 2014. the $ 6.3 million revenue decrease in the cs segment is principally attributable to a $ 5.4 million decline in revenues from non e-book related services that we perform for one of our significant clients and by a $ 0.9 million decrease in revenues from our e-book related services . two clients generated approximately 27 % , 26 % and 41 % of our total revenues in the fiscal years ended december 31 , 2014 , 2013 and 2012 , respectively . another client accounted for 14 % and 15 % of our total revenues for the year ended december 31 , 2014 and 2013 , respectively , but accounted for less than 10 % for the years ended december 31 , 2012. one other client accounted for less than 10 % of our total revenues for the years ended december 31 , 2014 and 2012 but accounted for 15 % of our total revenues for the year ended december 31 , 2013. no other client accounted for 10 % or more of total revenues during these periods . further , in the years ended december 31 , 2014 , 2013 and 2012 , revenues from non-us clients accounted for 47 % , 35 % and 24 % , respectively , of our revenues . 28 direct operating costs direct operating costs were approximately $ 43.9 million and $ 49.1 million for the years ended december 31 , 2014 and 2013 , respectively , a decrease of $ 5.2 million or approximately 11 % . direct operating costs for the cs segment were $ 38.4 million and $ 43.9 million for the years ended december 31 , 2014 and 2013 , respectively , a decrease of $ 5.5 million or approximately 13 % . direct operating costs for the iads segment were approximately $ 4.5 million and $ 5.2 million for the respective periods , net of intersegment profits . direct operating costs for the mis segment was $ 1.0 million for the year ended december 31 , 2014. direct operating costs as a percentage of total revenues decreased to 74 % for the year ended december 31 , 2014 compared to 76 % for the year ended december 31 , 2013. direct operating costs for the cs segment as a percentage of cs segment revenues were 68 % for the year ended december 31 , 2014 compared to 70 % for the year ended december 31 , 2013. the decline in direct operating costs for the cs segment and as a percentage of cs segment revenues was principally attributable to a decrease in production headcount due to a decline in cs revenues and a restructuring of our operations , and achieving productivity gains . story_separator_special_tag selling and administrative costs for the cs segment were $ 15.2 million and $ 19.3 million in these respective periods . selling and administrative expenses for the iads segment for the respective periods were $ 2.1 million and $ 2.9 million , net of intersegment profits . we restructured our operations during the fourth quarter of 2012 and the first half of 2013 , resulting in cost savings in the second half of 2013. this led to a decline in selling and administrative expenses for the cs segment during the year ended december 31 , 2013 compared to the year ended december 31 , 2012. selling and administrative expenses for the cs segment , as a percentage of cs segment revenues , increased to 24 % for the year ended december 31 , 2013 , from 23 % for the year ended 2012 , primarily as a result of lower revenues and the fixed component of our selling and administrative expenses . a significant portion of our selling and administrative expenses is fixed in nature . the decline in selling and administrative expenses for the iads segment is primarily on account of restructuring our docgenix operations in the fourth quarter of 2012. income taxes for the year ended december 31 , 2013 , we recorded a provision for income taxes in accordance with local tax regulations for our foreign subsidiaries . some of our foreign subsidiaries are subject to tax holidays or preferential tax rates which reduce our overall effective tax rate when compared to the u.s. statutory tax rate . in addition , the earnings of our foreign subsidiaries are not subject to tax in the u.s. unless the earnings are repatriated . the synodex subsidiary of our iads segment has not achieved significant revenue to date and has incurred losses since inception . our u.s. entity incurred losses primarily on account of the losses of synodex . in assessing the realization of deferred tax assets , we considered whether it is more likely than not that all or some portion of the u.s. deferred tax assets will not be realizable . as the expectation of future taxable income resulting from synodex could not be predicted with certainty , we created a valuation allowance against all the u.s. deferred tax assets starting in the third quarter of 2013 . as of december 31 , 2013 , we maintained a valuation allowance of $ 8.1 million against all of our u.s. deferred tax assets . for the year ended december 31 , 2012 , our u.s. entity recorded a benefit from income tax on account of losses incurred by our u.s. entity . with respect to our foreign subsidiaries , we recorded a provision for income taxes in accordance with the local tax regulations . as some of our foreign subsidiaries are subject to tax holidays or preferential tax rates , our overall effective tax rate was lower compared to the u.s. statutory tax rate . in addition , the earnings of our foreign subsidiaries are not subject to tax in the u.s. unless the earnings are repatriated . 33 beginning in 2002 , unremitted earnings of foreign subsidiaries have been included in the consolidated financial statements without giving effect to the united states taxes that may be payable on distribution to the united states , because such earnings are not anticipated to be remitted to the united states . if such earnings were to be distributed , we could be subject to united states income taxes that may not be fully offset by foreign tax credits . it is not practicable at this time to determine the amount of unrecognized deferred tax liability related to these earnings . in january 2013 , one of our philippine subsidiaries received an informal tax assessment from the internal revenue service of the philippines for an amount totaling $ 3.8 million for the year ended december 31 , 2009. we disagreed with the basis of the informal tax assessment and contested it vigorously . the ultimate outcome was favorable , and , accordingly , we did not record any tax provision . we had unrecognized tax benefits of $ 2.5 million and $ 2.4 million at december 31 , 2013 and 2012 , respectively . the portion of unrecognized tax benefits relating to interest and penalties was $ 0.8 million and $ 0.7 million at december 31 , 2013 and 2012 , respectively . the unrecognized tax benefits as of december 31 , 2013 and 2012 , if recognized , would have an impact on our effective tax rate . we are subject to various tax audits and claims which arise in the ordinary course of business . management currently believes that the ultimate outcome of these audits and claims will not have a material adverse effect on our consolidated financial position , results of operations or cash flows . net loss we generated a net loss of $ 10.6 million in the year ended december 31 , 2013 , compared to net income of $ 7.5 million in the year ended december 31 , 2012. the loss is primarily attributable to the $ 7.1 million valuation allowance referred to in “ income taxes , ” the $ 5.0 million impairment charge referred to in “ impairment charge , ” a decline in gross margins of the cs segment resulting from lower revenues offset in part by a decline in selling and administrative expenses , and continuing losses from operations of the iads segment . net income for the cs segment was $ 1.2 million for the year ended december 31 , 2013 compared to $ 13.8 million for the year ended december 31 , 2012. net loss for the iads segment was $ 11.8 million for the year ended december 31 , 2013 compared to $ 6.3 million for the year ended december 31 , 2012 , net of intersegment profits . adjusted ebitda adjusted ebitda for the year ended december 31

