Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Apr. 30, 2019 |
Apr. 30, 2018 |
| Operating activities |
|
|
| Net income (loss) |
$ 3,498
|
$ (3,336)
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
16,881
|
17,207
|
| Deferred income taxes |
2,049
|
4,524
|
| Provision for doubtful accounts receivable |
1,218
|
1,120
|
| Stock-based compensation |
1,212
|
2,842
|
| Other |
(700)
|
5
|
| Change in assets and liabilities: |
|
|
| Trade accounts receivable |
14,045
|
2,943
|
| Prepaid expenses, other current assets and other assets |
213
|
(13,436)
|
| Trade accounts payable, accrued expenses, other current liabilities and other liabilities |
(18,432)
|
(21,075)
|
| Customer deposits at IDT Financial Services Limited, our Gibraltar-based bank |
33,086
|
18,468
|
| Deferred revenue |
(5,716)
|
(8,138)
|
| Net cash provided by operating activities |
47,354
|
1,124
|
| Investing activities |
|
|
| Capital expenditures |
(13,724)
|
(15,969)
|
| Payment for acquisition, net of cash acquired |
(5,526)
|
|
| Proceeds from redemption of investments |
1,000
|
|
| Cash used for purchase of investments |
(1,000)
|
|
| Proceeds from sale of interest in Straight Path IP Group Holding, Inc. |
|
6,000
|
| Purchase of IP Interest from Straight Path Communications Inc. |
|
(6,000)
|
| Purchases of marketable securities |
(7)
|
(22,208)
|
| Proceeds from maturities and sales of marketable securities |
5,312
|
36,655
|
| Net cash used in investing activities |
(13,945)
|
(1,522)
|
| Financing activities |
|
|
| Dividends paid |
|
(11,677)
|
| Cash of Rafael deconsolidated as a result of spin-off |
|
(9,287)
|
| Distributions to noncontrolling interests |
(1,187)
|
(1,023)
|
| Proceeds from sale of Class B common stock to Howard S. Jonas |
13,272
|
|
| Repayment of other liabilities acquired. |
(635)
|
|
| Proceeds from borrowings under revolving credit facility |
3,000
|
22,125
|
| Repayments of borrowings under revolving credit facility |
(3,000)
|
(22,125)
|
| Repurchases of Class B common stock |
(3,882)
|
(61)
|
| Net cash provided by (used in) financing activities |
7,568
|
(22,048)
|
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents |
(2,000)
|
5,472
|
| Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents |
38,977
|
(16,974)
|
| Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period |
203,197
|
211,963
|
| Cash, cash equivalents, and restricted cash and cash equivalents at end of period |
242,174
|
194,989
|
| Supplemental schedule of non-cash investing and financing activities |
|
|
| Howard S. Jonas’ advance payment used for sale of Class B common stock |
1,500
|
|
| Net assets excluding cash and cash equivalents of Rafael deconsolidated as a result of spin-off |
|
$ (105,632)
|