Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jul. 31, 2015
Jul. 31, 2014
Jul. 31, 2013
Cash flows from operating activities:      
Net loss $ (2,285) $ (9,977) $ (18,237)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization of property, plant and equipment 2,019 2,131 2,615
Amortization of intangible assets 1,770 1,840 1,990
Provision for uncollectible accounts receivable 2,284 3,063 4,496
Deferred income tax (benefit) (104) (18) (759)
Share-based compensation charges 429 594 545
Share-based 401(k) employer match expense 662 636 643
Foreign exchange (gain) loss 664 (304) (127)
Changes in operating assets and liabilities:      
Accounts receivable (2,003) (3,224) (2,606)
Other receivables - settlements (6,650)    
Inventories 1,151 159 60
Prepaid expenses (108) 336 (97)
Accounts payable - trade 394 (226) (514)
Accrued liabilities, other current liabilities and other liabilities (1,923) 3,293 1,975
Total adjustments (1,415) 8,280 8,221
Net cash used in operating activities (3,700) (1,697) (10,016)
Cash flows from investing activities:      
Capital expenditures (1,783) (838) (988)
Decrease in security deposits and other 31 5 17
Net cash used in investing activities (1,752) (833) (971)
Cash flows from financing activities:      
Net proceeds from issuance of common stock 6,688 11,542 1,825
Proceeds from borrowings under Credit Agreement 88,632 78,814 13,360
Repayments under Credit Agreement (88,632) (79,065) (10,096)
Installment loan payments (463) (374) (274)
Net cash provided by financing activities 6,225 10,917 4,815
Effect of exchange rate changes on cash and cash equivalents (119) 61 103
Increase (decrease) in cash and cash equivalents 654 8,448 (6,069)
Cash and cash equivalents - beginning of year 17,455 9,007 15,076
Cash and cash equivalents - end of year $ 18,109 $ 17,455 $ 9,007