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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 7 Months Ended 9 Months Ended 12 Months Ended
May 31, 2022
Nov. 30, 2021
May 31, 2021
Nov. 30, 2020
May 31, 2022
May 31, 2022
May 31, 2021
Aug. 31, 2021
Operating activities:                
Net income $ 14,480 $ 18,555 $ 21,006 $ 23,623   $ 52,543 $ 61,820  
Adjustments to reconcile net income to net cash provided by operating activities:                
Depreciation and amortization 2,058   1,808     6,140 5,266  
Net gains on sales and disposals of property and equipment           (162) (185)  
Deferred income taxes           165 (512)  
Stock-based compensation           5,751 7,885  
Unrealized foreign currency exchange losses (gains)           261 (529)  
Provision for bad debts           115 253  
Changes in assets and liabilities:                
Trade and other accounts receivable           (6,932) (20,053)  
Inventories           (42,311) (5,101)  
Other assets           (5,213) (1,777)  
Operating lease assets and liabilities, net           (2) 11  
Accounts payable and accrued liabilities           9,899 11,000  
Accrued payroll and related expenses           (12,085) 6,202  
Other long-term liabilities and income taxes payable           (513) (305)  
Net cash provided by operating activities           7,656 63,975  
Investing activities:                
Purchases of property and equipment           (7,115) (10,789)  
Proceeds from sales of property and equipment           377 418  
Net cash used in investing activities           (6,738) (10,371)  
Financing activities:                
Treasury stock purchases         $ (22,400) (22,390)    
Dividends paid           (31,316) (28,321)  
Proceeds from issuance of long-term senior notes           52,000  
Repayments of long-term senior notes           (800) (800)  
Net proceeds (repayments) of revolving credit facility           15,576 (50,000)  
Shares withheld to cover taxes upon conversions of equity awards           (4,329) (3,494)  
Net cash used in financing activities           (43,259) (30,615)  
Effect of exchange rate changes on cash and cash equivalents           (2,821) 911  
Net (decrease) increase in cash and cash equivalents           (45,162) 23,900  
Cash and cash equivalents at beginning of period   $ 85,961   $ 56,462   85,961 56,462 $ 56,462
Cash and cash equivalents at end of period $ 40,799   $ 80,362   $ 40,799 40,799 80,362 $ 85,961
Supplemental disclosure of noncash investing activities:                
Accrued capital expenditures           $ 1,018 $ 1,700