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
 9 Months Ended
Apr. 30, 2017
Apr. 30, 2016
Cash flows from operating activities:    
Net income (loss) $ (2,598) $ 9,151
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization of property, plant and equipment 1,552 1,602
Amortization of intangible assets 1,140 1,260
Provision for uncollectible accounts receivable 1,968 1,739
Deferred income tax benefit   (8)
Share-based compensation charges 601 370
Accrual for share-based 401(k) employer match expense 552 560
Foreign exchange loss 267 14
Changes in operating assets and liabilities:    
Accounts receivable (3,192) (3,040)
Other receivables   6,650
Inventories (213) 447
Prepaid expenses and other 195 402
Accounts payable – trade (459) 396
Accrued liabilities, other current liabilities and other liabilities (1,707) (1,970)
Total adjustments 704 7,853
Net cash (used in) provided by operating activities (1,894) 17,004
Cash flows from investing activities:    
Capital expenditures (1,424) (1,389)
Security deposits and other 6 (1)
Net cash used in investing activities (1,418) (1,390)
Cash flows from financing activities:    
Proceeds from borrowings under Credit Agreement 40,694 67,343
Repayments under Credit Agreement (42,250) (68,356)
Installment loan and capital lease obligation payments (428) (424)
Proceeds from the exercise of stock options 159 66
Net cash used in financing activities (1,825) (1,371)
Effect of exchange rate changes on cash and cash equivalents (13) 8
(Decrease) increase in cash and cash equivalents (5,150) 14,251
Cash and cash equivalents - beginning of period 67,777 18,109
Cash and cash equivalents - end of period $ 62,627 $ 32,360