|
Condensed Consolidated Statements of Cash Flows (USD $)
|
9 Months Ended |
|
Apr. 30, 2011
|
Apr. 30, 2010
|
| Cash flows from operating activities: |
 |
 |
| Net income |
$ 56,007,000 |
$ 47,161,000 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
 |
 |
| Depreciation and amortization of property, plant and equipment |
10,352,000 |
8,780,000 |
| Amortization of intangible assets with finite lives |
6,064,000 |
5,283,000 |
| Amortization of stock-based compensation |
3,977,000 |
5,758,000 |
| Deferred financing costs |
1,045,000 |
1,039,000 |
| (Gain) loss on disposal of property, plant and equipment |
(1,000) |
87,000 |
| Provision for allowance for doubtful accounts |
302,000 |
159,000 |
| Provision for excess and obsolete inventory |
1,507,000 |
6,233,000 |
| Excess income tax benefit from stock award exercises |
(154,000) |
(252,000) |
| Deferred income tax expense (benefit) |
1,394,000 |
(935,000) |
| Changes in assets and liabilities, net of effects of acquisitions and sale of certain assets and liabilities: |
 |
 |
| Accounts receivable |
65,353,000 |
(28,377,000) |
| Inventories |
(9,407,000) |
12,129,000 |
| Prepaid expenses and other current assets |
1,154,000 |
3,916,000 |
| Other assets |
702,000 |
(715,000) |
| Accounts payable |
(60,016,000) |
24,565,000 |
| Accrued expenses and other current liabilities |
(9,473,000) |
(4,373,000) |
| Customer advances and deposits |
3,478,000 |
(8,513,000) |
| Other liabilities |
568,000 |
137,000 |
| Interest payable |
1,500,000 |
1,613,000 |
| Income taxes payable |
(5,421,000) |
8,813,000 |
| Net cash provided by operating activities |
68,931,000 |
82,508,000 |
| Cash flows from investing activities: |
 |
 |
| Purchases of property, plant and equipment |
(4,768,000) |
(4,202,000) |
| Purchases of other intangibles with finite lives |
(50,000) |
(113,000) |
| Proceeds from sale of certain assets and liabilities |
0 |
2,038,000 |
| Payments related to business acquisitions |
(2,850,000) |
0 |
| Net cash used in investing activities |
(7,668,000) |
(2,277,000) |
| Cash flows from financing activities: |
 |
 |
| Repurchases of common stock |
(68,071,000) |
0 |
| Cash dividends paid |
(13,614,000) |
0 |
| Proceeds from exercises of stock options |
1,305,000 |
1,477,000 |
| Proceeds from issuance of employee stock purchase plan shares |
857,000 |
993,000 |
| Excess income tax benefit from stock-based award exercises |
154,000 |
252,000 |
| Payment of contingent consideration related to business acquisition |
(8,000) |
0 |
| Origination fees related to line of credit |
(539,000) |
(8,000) |
| Transaction costs related to issuance of convertible senior notes |
0 |
(118,000) |
| Net cash (used in) provided by financing activities |
(79,916,000) |
2,596,000 |
| Net (decrease) increase in cash and cash equivalents |
(18,653,000) |
82,827,000 |
| Cash and cash equivalents at beginning of period |
607,594,000 |
485,450,000 |
| Cash and cash equivalents at end of period |
588,941,000 |
568,277,000 |
| Cash paid during the period for: |
 |
 |
| Interest |
3,309,000 |
3,132,000 |
| Income taxes |
31,150,000 |
18,436,000 |
| Non cash investing and financing activities: |
 |
 |
| Cash dividends declared |
6,521,000 |
0 |
| Accrued business acquisition payments |
$ 4,066,000 |
$ 0 |