CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
6 Months Ended |
Jan. 31, 2016 |
Jan. 31, 2015 |
| Cash flows from operating activities |
|
|
| Net income |
$ 29,643,000
|
$ 22,324,000
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
5,693,000
|
4,853,000
|
| Amortization |
6,391,000
|
6,188,000
|
| Stock-based compensation expense |
3,595,000
|
3,001,000
|
| Amortization of debt issuance costs |
201,000
|
200,000
|
| Loss on disposal of fixed assets |
111,000
|
37,000
|
| Fair value adjustments to acquisition related liabilities |
(571,000)
|
274,000
|
| Deferred income taxes |
688,000
|
676,000
|
| Excess tax benefits from stock-based compensation |
(1,541,000)
|
(2,463,000)
|
| Changes in assets and liabilities, net of assets acquired and liabilities assumed: |
|
|
| Accounts receivable |
(3,021,000)
|
319,000
|
| Inventories |
(4,251,000)
|
(3,115,000)
|
| Prepaid expenses and other current assets |
(5,034,000)
|
(3,822,000)
|
| Accounts payable and other current liabilities |
(1,681,000)
|
(9,737,000)
|
| Income taxes |
(1,952,000)
|
103,000
|
| Net cash provided by operating activities |
28,271,000
|
18,838,000
|
| Cash flows from investing activities |
|
|
| Capital expenditures |
(7,635,000)
|
(5,272,000)
|
| Proceeds from disposal of fixed assets |
35,000
|
34,000
|
| Acquisitions of businesses, net of cash acquired |
(81,104,000)
|
(33,359,000)
|
| Other, net |
212,000
|
746,000
|
| Net cash used in investing activities |
(88,492,000)
|
(37,851,000)
|
| Cash flows from financing activities |
|
|
| Borrowings under revolving credit facility |
83,000,000
|
37,000,000
|
| Repayments under revolving credit facility |
(28,000,000)
|
(22,000,000)
|
| Proceeds from exercises of stock options |
|
323,000
|
| Dividends paid |
(2,502,000)
|
(2,076,000)
|
| Excess tax benefits from stock-based compensation |
1,541,000
|
2,463,000
|
| Purchases of treasury stock |
(3,432,000)
|
(3,424,000)
|
| Net cash provided by financing activities |
50,607,000
|
12,286,000
|
| Effect of exchange rate changes on cash and cash equivalents |
(502,000)
|
(962,000)
|
| Decrease in cash and cash equivalents |
(10,116,000)
|
(7,689,000)
|
| Cash and cash equivalents at beginning of period |
31,720,000
|
31,781,000
|
| Cash and cash equivalents at end of period |
$ 21,604,000
|
$ 24,092,000
|