|
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Nov. 30, 2011
|
Nov. 30, 2010
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 3,702 |
$ 5,167 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
6,273 |
5,984 |
| Amortization of bond discounts and premiums |
245 |
|
| Tax effect on exercise of stock options and issuance of performance shares |
(198) |
(29) |
| Deferred income taxes |
1,058 |
2,285 |
| Stock based compensation |
1,877 |
2,254 |
| Change in accounts receivable allowances |
205 |
(81) |
| Other |
(282) |
153 |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(4,515) |
4,157 |
| Inventories |
(1,546) |
(3,515) |
| Prepaid expenses and other |
(1,998) |
1,195 |
| Accounts payable and accrued liabilities |
892 |
(5,944) |
| Net cash provided by operating activities |
5,713 |
11,626 |
| Cash flows from investing activities: |
|
|
| Additions to property, plant and equipment |
(1,058) |
(1,489) |
| Purchases of marketable securities |
(77,652) |
(128,274) |
| Proceeds from sale or maturity of marketable securities |
69,275 |
85,880 |
| Acquisition of intangible and other assets |
(300) |
|
| Proceeds from disposal of intangible and other assets |
1,000 |
|
| Net cash used in investing activities |
(8,735) |
(43,883) |
| Cash flows from financing activities: |
|
|
| Repayment of long-term debt |
(135) |
(130) |
| Proceeds from exercise of stock options and employee stock purchase plan |
2,250 |
718 |
| Repurchase and retirement of shares |
(2,104) |
|
| Net cash provided by financing activities |
11 |
588 |
| Effect of exchange rate changes on cash and cash equivalents |
(18) |
38 |
| (Decrease) increase in cash and cash equivalents |
(3,029) |
(31,631) |
| Cash and cash equivalents at beginning of period |
45,984 |
58,763 |
| Cash and cash equivalents at end of period |
$ 42,955 |
$ 27,132 |