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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 19 Months Ended
May 31, 2023
Nov. 30, 2022
May 31, 2022
Nov. 30, 2021
May 31, 2023
May 31, 2022
May 31, 2023
Operating activities:              
Net income $ 18,895 $ 13,997 $ 14,480 $ 18,555 $ 49,418 $ 52,543  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 2,075   2,058   5,939 6,140  
Net losses (gains) on sales and disposals of property and equipment         20 (162)  
Deferred income taxes         (376) 165  
Stock-based compensation         5,793 5,751  
Unrealized foreign currency exchange (gains) losses         (1,780) 261  
Provision for credit losses         18 115  
Write-off of inventories         693 456  
Changes in assets and liabilities:              
Trade and other accounts receivable         (9,015) (6,932)  
Inventories         9,826 (42,767)  
Other assets         (326) (5,213)  
Operating lease assets and liabilities, net         55 (2)  
Accounts payable and accrued liabilities         (7,086) 9,899  
Accrued payroll and related expenses         1,470 (12,085)  
Other long-term liabilities and income taxes payable         944 (513)  
Net cash provided by operating activities         55,593 7,656  
Investing activities:              
Purchases of property and equipment         (4,650) (7,115)  
Proceeds from sales of property and equipment         437 377  
Net cash used in investing activities         (4,213) (6,738)  
Financing activities:              
Treasury stock purchases         (7,434) (22,390) $ (36,600)
Dividends paid         (33,273) (31,316)  
Repayments of long-term senior notes         (800) (800)  
Net (repayments) proceeds from revolving credit facility         (11,917) 15,576  
Shares withheld to cover taxes upon conversions of equity awards         (600) (4,329)  
Net cash used in financing activities         (54,024) (43,259)  
Effect of exchange rate changes on cash and cash equivalents         3,204 (2,821)  
Net increase (decrease) in cash and cash equivalents         560 (45,162)  
Cash and cash equivalents at beginning of period   $ 37,843   $ 85,961 37,843 85,961  
Cash and cash equivalents at end of period $ 38,403   $ 40,799   38,403 40,799 $ 38,403
Supplemental disclosure of noncash investing activities:              
Accrued capital expenditures         $ 813 $ 1,018