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
 3 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Cash flows from operating activities:    
Net income (loss) $ 4,434 $ (3,729)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, plant and equipment 527 507
Amortization of intangible assets 423 431
Provision for uncollectible accounts receivable 704 541
Deferred income tax benefit (3) (24)
Share-based compensation charges 111 98
Accrual for share-based 401(k) employer match expense 166 145
Foreign exchange loss 129 422
Changes in operating assets and liabilities:    
Accounts receivable (1,376) (482)
Other receivables – settlements 6,650  
Inventories (210) 107
Prepaid expenses and other 442 182
Accounts payable – trade 682 (1,157)
Accrued liabilities, other current liabilities and other liabilities 474 204
Total adjustments 8,719 974
Net cash provided by (used in) operating activities 13,153 (2,755)
Cash flows from investing activities:    
Capital expenditures (505) (264)
Security deposits and other 15 5
Net cash used in investing activities (490) (259)
Cash flows from financing activities:    
Net proceeds from issuance of common stock   2,322
Proceeds from borrowings under Credit Agreement 22,461 22,360
Repayments under Credit Agreement (22,461) (22,360)
Installment loan and capital lease obligation payments (125) (115)
Net cash (used in) provided by financing activities (125) 2,207
Effect of exchange rate changes on cash and cash equivalents (5) (57)
Increase (decrease) in cash and cash equivalents 12,533 (864)
Cash and cash equivalents - beginning of period 18,109 17,455
Cash and cash equivalents - end of period $ 30,642 $ 16,591