XML 59 R7.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Oct. 31, 2019
Oct. 31, 2018
Cash flows from operating activities:    
Net income $ 6,388,000 $ 3,468,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, plant and equipment 2,651,000 2,851,000
Amortization of intangible assets with finite lives 5,206,000 4,289,000
Amortization of stock-based compensation 879,000 1,046,000
Amortization of deferred financing costs 185,000 548,000
Estimated contract settlement costs 230,000 0
Write-off of deferred financing costs 0 3,217,000
Changes in other liabilities (1,033,000) 0
(Gain) loss on disposal of property, plant and equipment (3,000) 32,000
Benefit from allowance for doubtful accounts (343,000) (7,000)
Provision for excess and obsolete inventory 373,000 747,000
Deferred income tax expense 2,286,000 2,273,000
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable (15,947,000) (12,267,000)
Inventories 2,656,000 (15,240,000)
Prepaid expenses and other current assets 930,000 3,054,000
Other assets (44,000) 64,000
Accounts payable 4,299,000 (9,180,000)
Accrued expenses and other current liabilities (1,095,000) 8,526,000
Contract liabilities (822,000) (2,947,000)
Other liabilities, non-current 3,000 275,000
Interest payable (133,000) (455,000)
Income taxes payable (1,221,000) (4,424,000)
Net cash provided by (used in) operating activities 5,445,000 (14,130,000)
Cash flows from investing activities:    
Purchases of property, plant and equipment (1,250,000) (1,645,000)
Net cash used in investing activities (1,250,000) (1,645,000)
Cash flows from financing activities:    
Net borrowings of long-term debt under Credit Facility 4,000,000 193,400,000
Net payments under Revolving Loan portion of Prior Credit Facility 0 (48,603,000)
Repayment of debt under Term Loan portion of Prior Credit Facility 0 (120,121,000)
Remittance of employees' statutory tax withholdings for stock awards (4,560,000) (5,017,000)
Cash dividends paid (2,692,000) (2,615,000)
Payment of deferred financing costs 0 (1,771,000)
Repayment of principal amounts under finance lease and other obligations (198,000) (454,000)
Proceeds from issuance of employee stock purchase plan shares 246,000 241,000
Proceeds from exercises of stock options 306,000 174,000
Net cash (used in) provided by financing activities (2,898,000) 15,234,000
Net increase (decrease) in cash and cash equivalents 1,297,000 (541,000)
Cash and cash equivalents at beginning of period 45,576,000 43,484,000
Cash and cash equivalents at end of period 46,873,000 42,943,000
Cash paid during the period for:    
Interest 1,701,000 2,470,000
Income taxes, net 79,000 25,000
Non-cash investing and financing activities:    
Reclass of finance lease right-of-use assets to property, plant and equipment 295,000 0
Cash dividends declared but unpaid (including dividend equivalents) 2,484,000 2,463,000
Accrued additions to property, plant and equipment 692,000 795,000
Accrued deferred financing costs $ 0 $ 41,000