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, 2016
Apr. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ 9,151 $ (10,727)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, plant and equipment 1,602 1,513
Amortization of intangible assets 1,260 1,284
Provision for uncollectible accounts receivable 1,739 1,731
Deferred income tax benefit (8) (71)
Share-based compensation charges 370 319
Accrual for share-based 401(k) employer match expense 560 511
Foreign exchange loss 14 640
Changes in operating assets and liabilities:    
Accounts receivable (3,040) (940)
Other receivables 6,650  
Inventories 447 597
Prepaid expenses and other 402 16
Accounts payable – trade 396 (957)
Accrued liabilities, other current liabilities and other liabilities (1,970) (2,086)
Total adjustments 7,853 2,557
Net cash provided by (used in) operating activities 17,004 (8,170)
Cash flows from investing activities:    
Capital expenditures (1,389) (1,168)
Security deposits and other (1) (1)
Net cash used in investing activities (1,390) (1,169)
Cash flows from financing activities:    
Net proceeds from issuance of common stock   6,687
Proceeds from borrowings under Credit Agreement 67,343 65,389
Repayments under Credit Agreement (68,356) (65,389)
Installment loan and capital lease obligation payments (424) (316)
Proceeds from the exercise of stock options 66  
Net cash (used in) provided by financing activities (1,371) 6,371
Effect of exchange rate changes on cash and cash equivalents 8 (112)
Increase (decrease) in cash and cash equivalents 14,251 (3,080)
Cash and cash equivalents - beginning of period 18,109 17,455
Cash and cash equivalents - end of period $ 32,360 $ 14,375