CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
9 Months Ended |
Apr. 30, 2017 |
Apr. 30, 2016 |
| Cash flows from operating activities |
|
|
| Net income |
$ 54,381,000
|
$ 43,662,000
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
10,922,000
|
8,754,000
|
| Amortization |
11,930,000
|
9,737,000
|
| Stock-based compensation expense |
6,983,000
|
5,837,000
|
| Amortization of debt issuance costs |
295,000
|
301,000
|
| Loss on disposal of fixed assets |
489,000
|
177,000
|
| Fair value adjustments to acquisition related liabilities |
(265,000)
|
(551,000)
|
| Deferred income taxes |
(97,000)
|
(97,000)
|
| Excess tax benefits from stock-based compensation |
|
(1,586,000)
|
| Changes in assets and liabilities, net of effects of business acquisitions: |
|
|
| Accounts receivable |
(13,108,000)
|
(10,315,000)
|
| Inventories |
(2,334,000)
|
(13,681,000)
|
| Prepaid expenses and other current assets |
(2,924,000)
|
(5,037,000)
|
| Accounts payable and other current liabilities |
9,220,000
|
14,518,000
|
| Income taxes |
(2,108,000)
|
84,000
|
| Net cash provided by operating activities |
73,384,000
|
51,803,000
|
| Cash flows from investing activities |
|
|
| Capital expenditures |
(20,765,000)
|
(12,258,000)
|
| Proceeds from disposal of fixed assets |
43,000
|
55,000
|
| Acquisition of businesses, net of cash acquired |
(69,998,000)
|
(94,624,000)
|
| Other, net |
344,000
|
(89,000)
|
| Net cash used in investing activities |
(90,376,000)
|
(106,916,000)
|
| Cash flows from financing activities |
|
|
| Borrowings under revolving credit facility |
74,000,000
|
96,500,000
|
| Repayments under revolving credit facility |
(45,000,000)
|
(43,000,000)
|
| Dividends paid |
(2,921,000)
|
(2,502,000)
|
| Excess tax benefits from stock-based compensation |
|
1,586,000
|
| Purchases of treasury stock |
(6,387,000)
|
(3,551,000)
|
| Net cash provided by financing activities |
19,692,000
|
49,033,000
|
| Effect of exchange rate changes on cash and cash equivalents |
(194,000)
|
(142,000)
|
| Decrease in cash and cash equivalents |
2,506,000
|
(6,222,000)
|
| Cash and cash equivalents at beginning of period |
28,367,000
|
31,720,000
|
| Cash and cash equivalents at end of period |
$ 30,873,000
|
$ 25,498,000
|