CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
Apr. 30, 2017 |
Apr. 30, 2016 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income |
$ 20,749
|
$ 14,120
|
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
| Stock option compensation expense |
1,112
|
659
|
| Depreciation |
572
|
434
|
| Amortization of purchased intangibles |
183
|
321
|
| Deferred income tax expense |
263
|
1,897
|
| Other |
(382)
|
(128)
|
| Changes in operating assets and liabilities |
|
|
| Accounts receivable |
(16,428)
|
(6,713)
|
| Prepaid expenses and other assets |
(1,773)
|
(1,408)
|
| Accounts payable and accrued expenses |
12,730
|
5,786
|
| Billings in excess of costs and estimated earnings, net |
23,938
|
28,758
|
| Net cash provided by operating activities |
40,964
|
43,726
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchases of short-term investments |
(185,000)
|
(50,000)
|
| Maturities of short-term investments |
145,000
|
36,000
|
| Purchases of property, plant and equipment |
(1,863)
|
(245)
|
| Net cash used in investing activities |
(41,863)
|
(14,245)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the exercise of stock options |
867
|
495
|
| Net cash provided by financing activities |
867
|
495
|
| EFFECTS OF EXCHANGE RATE CHANGES ON CASH |
181
|
545
|
| NET INCREASE IN CASH AND CASH EQUIVALENTS |
149
|
30,521
|
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD |
167,198
|
160,909
|
| CASH AND CASH EQUIVALENTS, END OF PERIOD |
$ 167,347
|
191,430
|
| SUPPLEMENTAL CASH FLOW INFORMATION |
|
|
| Cash paid for income taxes |
|
$ 847
|