XML 26 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jul. 31, 2021
Jul. 31, 2020
Jul. 31, 2019
Cash flows from operating activities:      
Net (loss) income $ (73,480,000) $ 7,020,000 $ 25,041,000
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization of property, plant and equipment 9,379,000 10,561,000 11,927,000
Amortization of intangible assets with finite lives 21,020,000 21,595,000 18,320,000
Amortization of stock-based compensation 9,983,000 9,275,000 11,427,000
Amortization of deferred financing costs 736,000 737,000 1,099,000
Estimated contract settlement costs 0 444,000 6,351,000
Write-off of deferred financing costs 0 0 3,217,000
Settlement of intellectual property litigation 0 0 (3,204,000)
Changes in other liabilities (6,633,000) (4,133,000) (1,056,000)
Loss on disposal of property, plant and equipment 215,000 0 144,000
(Benefit from) provision for allowance for doubtful accounts (18,000) (431,000) 1,136,000
Provision for excess and obsolete inventory 4,364,000 1,647,000 6,015,000
Deferred income tax (benefit) expense (3,263,000) 860,000 4,283,000
Other (225,000) 0 0
Changes in assets and liabilities, net of effects of business acquisitions:      
Accounts receivable (31,223,000) 20,929,000 6,315,000
Inventories (2,338,000) (9,132,000) (3,787,000)
Prepaid expenses and other current assets (265,000) (2,261,000) 915,000
Other assets (4,215,000) (719,000) 102,000
Accounts payable 11,016,000 (2,206,000) (21,290,000)
Accrued expenses and other current liabilities (7,886,000) 4,292,000 3,554,000
Contract liabilities 25,444,000 (6,312,000) (127,000)
Other liabilities, non-current 3,583,000 2,422,000 (84,000)
Interest payable 32,000 (397,000) 151,000
Income taxes payable 3,136,000 (1,427,000) (2,418,000)
Net cash (used in) provided by operating activities (40,638,000) 52,764,000 68,031,000
Cash flows from investing activities:      
Net cash acquired from acquisition of UHP 1,304,000 0 0
Purchases of property, plant and equipment (16,037,000) (7,225,000) (8,785,000)
Net cash used in investing activities (15,483,000) (20,184,000) (44,668,000)
Cash flows from financing activities:      
Net borrowings (payments) of long-term debt under Credit Facility 51,500,000   165,000,000
Net borrowings (payments) of long-term debt under Credit Facility   (15,500,000)  
Net payments under Revolving Loan portion of Prior Credit Facility 0 0 (48,603,000)
Repayment of debt under Term Loan portion of Prior Credit Facility 0 0 (120,121,000)
Remittance of employees' statutory tax withholding for stock awards (2,803,000) (5,276,000) (5,042,000)
Cash dividends paid (10,334,000) (10,020,000) (9,789,000)
Repayment of principal amounts under finance lease and other obligations (38,000) (805,000) (1,906,000)
Payment of deferred financing costs (30,000) 0 (1,813,000)
Proceeds from issuance of employee stock purchase plan shares 809,000 855,000 935,000
Proceeds from exercises of stock options 0 468,000 216,000
Payment of shelf registration costs 0 0 (148,000)
Net cash provided by (used in) financing activities 39,104,000 (30,278,000) (21,271,000)
Net (decrease) increase in cash and cash equivalents (17,017,000) 2,302,000 2,092,000
Cash and cash equivalents at beginning of year 47,878,000 45,576,000 43,484,000
Cash and cash equivalents at end of year 30,861,000 47,878,000 45,576,000
Supplemental cash flow disclosure      
Interest 5,987,000 5,549,000 7,669,000
Income taxes, net (1,373,000) 2,875,000 2,005,000
Non-cash investing and financing activities:      
Reclass of finance lease right-of-use assets to property, plant and equipment 0 698,000 0
Accrued remittance of employees' statutory tax withholdings for fully-vested share units 2,596,000 1,399,000 1,787,000
Cash dividends declared but unpaid (including accrual of dividend equivalents) 2,981,000 2,762,000 2,733,000
Accrued additions to property, plant and equipment 2,466,000 1,408,000 902,000
Issuance of restricted stock 4,000 0 1,000
Common stock issued for acquisitions 28,892,000 11,575,000 5,606,000
Accrued deferred financing costs 139,000 0 0
Accruals related to acquisitions 0 1,157,000 0
CGC      
Cash flows from investing activities:      
Payment for acquisitions, net of cash acquired (750,000) (11,165,000) 0
Solacom      
Cash flows from investing activities:      
Payment for acquisitions, net of cash acquired 0 0 (25,883,000)
GD NG-911 business      
Cash flows from investing activities:      
Payment for acquisition of businesses 0 (1,013,000) (10,000,000)
NG-911      
Cash flows from investing activities:      
Payment for acquisition of businesses 0 (781,000) 0
UHP      
Non-cash investing and financing activities:      
Fair value of UHP acquisition contingent earn-out consideration $ 8,500,000 $ 0 $ 0