XML 24 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
May 31, 2016
May 31, 2015
May 31, 2014
Cash flows from operating activities:      
Net income (loss) $ (43,590) $ (3,388) $ 2,347
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 28,115 29,861 28,329
Amortization of acquired inventory basis step-up 0 0 150
Tax effect of exercise of stock options and issuance of performance shares 0 0 (146)
Deferred income tax provision 39,983 (5,123) 2,716
Stock based compensation 3,240 5,998 5,502
Changes in accounts receivable allowances 2,377 1,448 465
Change in fair value of contingent consideration 948 (8,096) (1,908)
Loss on impairment/disposal of long-term assets 806 9,381 0
Loss on impairment of intangible assets 384 6,400 0
Other 90 181 130
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable 3,131 2,095 (14,786)
Inventories 11,976 (5,648) (6,114)
Prepaid expenses and other 712 (1,170) 1,208
Accounts payable and accrued liabilities (2,956) (6,254) 6,788
Net cash provided by operating activities 45,216 25,685 24,681
Cash flows from investing activities:      
Additions to property, plant and equipment (2,326) (11,383) (11,172)
Acquisition of businesses, net of cash acquired 0 0 (4,169)
Acquisition of intangible assets (3,268) (1,353) (1,435)
Acquisition of warrants (2,000) 0 0
Purchases of marketable securities 0 0 (25)
Proceeds from sale or maturity of marketable securities 25 0 353
Net cash used in investing activities (7,569) (12,736) (16,448)
Cash flows from financing activities:      
Repayment of long-term debt (16,250) (20,000) (146,250)
Proceeds from issuance of and borrowings on long-term debt 0 15,000 146,410
Proceeds from exercise of stock options and ESPP 2,437 5,757 2,444
Payment of acquisition related contingent consideration (9,850) (11,222) (15,943)
Deferred financing costs on long-term debt 0 0 (677)
Net cash used in financing activities (23,663) (10,465) (14,016)
Effect of exchange rate changes on cash and cash equivalents (42) (198) 86
Increase (decrease) in cash and cash equivalents 13,942 2,286 (5,697)
Cash and cash equivalents      
Beginning of year 18,391 16,105 21,802
End of year 32,333 18,391 16,105
Supplemental disclosure of non-cash operating, investing and financing activities:      
Contractual obligations for acquisition of fixed assets 75 140 4,970
Contractual obligations for acquisition of intangibles and business 0 0 2,249
Contractual obligations for tax basis adjustment 0 779 0
Cash paid during the period for:      
Interest 3,063 3,151 3,591
Income taxes $ 332 $ 699 $ 182