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Acquisition (Tables) | 9 Months Ended
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Apr. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Business Combination, Recognized Asset Acquired and Liability Assumed | The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed at the date of the acquisition:
Cash and cash equivalents | $ | 7,469 |
Accounts receivable, net | 23,697 |
Inventories | 21,190 |
Prepaid expenses and other current assets | 549 |
Property, plant and equipment — net | 2,472 |
Goodwill | 69,936 |
Other intangible assets | 64,099 |
Operating lease assets | 6,800 |
Other assets | 1,034 |
Accounts payable | (17,353) |
Accrued compensation and benefits | (9,106) |
Taxes, other than income taxes | (6,680) |
Accrued income taxes | (1,807) |
Other current liabilities | (17,688) |
Operating lease liabilities | (6,800) |
Other liabilities | (6,729) |
Net assets acquired | $ | 131,083 |
Less: cash acquired | (7,469) |
Fair value of total consideration | $ | 123,614 |
The final purchase price allocation is subject to post-closing adjustments pursuant to the terms of the securities sale and purchase agreement, as well as the finalization of certain accounts, primarily intangible assets and deferred tax adjustments. The goodwill for this acquisition is not deductible for tax purposes.
Business Combination, Pro Forma Information | The following table presents the unaudited pro forma operating results of the Company for the three and nine months ended April 30, 2025 and 2024, reflecting the acquisition of Gravotech as if it had occurred at the beginning of fiscal year 2024. The unaudited pro forma operating results for the three and nine months ended April 30, 2025 do not contain any adjustments to the accompanying condensed consolidated financial statements. The unaudited pro forma operating results for the three and nine months ended April 30, 2024 include Gravotech’s normal operating results and pro forma adjustments to include cumulative expenses, net of tax, for the non-recurring fair value adjustment to inventory, amortization expense for acquired intangible assets and interest expense on acquisition-related debt. The unaudited pro forma operating results are presented for comparative purposes only and do not necessarily reflect future operating results or those that would have occurred had the acquisition been completed at the beginning of fiscal year 2024.
| Three months ended April 30, |  | Nine months ended April 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net sales, pro forma | $ | 382,590 |  |  | $ | 371,732 |  |  | $ | 1,116,330 |  |  | $ | 1,085,253 |
Net income, pro forma | 52,263 |  |  | 48,339 |  |  | 139,380 |  |  | 135,257 |

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