Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jan. 31, 2017
Jan. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ (2,527) $ 11,266
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, plant and equipment 1,023 1,059
Amortization of intangible assets 819 843
Provision for uncollectible accounts receivable 1,348 1,163
Deferred income tax benefit   (5)
Share-based compensation charges 392 221
Accrual for share-based 401(k) employer match expense 354 439
Foreign exchange loss 420 333
Changes in operating assets and liabilities:    
Accounts receivable (2,170) (1,952)
Other receivables   6,650
Inventories (238) (20)
Prepaid expenses and other 67 350
Accounts payable – trade 238 693
Accrued liabilities, other current liabilities and other liabilities (2,558) (983)
Total adjustments (305) 8,798
Net cash provided by (used in) operating activities (2,832) 20,064
Cash flows from investing activities:    
Capital expenditures (689) (943)
Security deposits and other 2 2
Net cash used in investing activities (687) (941)
Cash flows from financing activities:    
Proceeds from borrowings under Credit Agreement 40,694 44,378
Repayments under Credit Agreement (42,251) (44,378)
Installment loan and capital lease obligation payments (323) (258)
Proceeds from the exercise of stock options 71 66
Net cash used in financing activities (1,809) (192)
Effect of exchange rate changes on cash and cash equivalents (22) (24)
Increase (decrease) in cash and cash equivalents (5,350) 18,907
Cash and cash equivalents - beginning of period 67,777 18,109
Cash and cash equivalents - end of period $ 62,427 $ 37,016