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, 2016
Jan. 31, 2015
Cash flows from operating activities:    
Net income (loss) $ 11,266 $ (7,820)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, plant and equipment 1,059 1,014
Amortization of intangible assets 843 859
Provision for uncollectible accounts receivable 1,163 1,142
Deferred income tax benefit (5) (48)
Share-based compensation charges 221 203
Accrual for share-based 401(k) employer match expense 439 296
Foreign exchange loss 333 570
Changes in operating assets and liabilities:    
Accounts receivable (1,952) (524)
Other receivables 6,650  
Inventories (20) 306
Prepaid expenses and other 350 524
Accounts payable – trade 693 (1,423)
Accrued liabilities, other current liabilities and other liabilities (983) (1,571)
Total adjustments 8,798 1,348
Net cash provided by (used in) operating activities 20,064 (6,472)
Cash flows from investing activities:    
Capital expenditures (943) (653)
Security deposits and other 2  
Net cash used in investing activities (941) (653)
Cash flows from financing activities:    
Net proceeds from issuance of common stock   5,341
Proceeds from borrowings under Credit Agreement 44,378 43,362
Repayments under Credit Agreement (44,378) (43,362)
Installment loan and capital lease obligation payments (258) (230)
Proceeds from the exercise of stock options 66  
Net cash (used in) provided by financing activities (192) 5,111
Effect of exchange rate changes on cash and cash equivalents (24) (95)
Increase (decrease) in cash and cash equivalents 18,907 (2,109)
Cash and cash equivalents - beginning of period 18,109 17,455
Cash and cash equivalents - end of period $ 37,016 $ 15,346