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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2018
Oct. 31, 2017
Cash flows from operating activities    
Net income $ 19,242 $ 22,929
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,691 4,036
Amortization 6,041 4,048
Stock-based compensation expense 2,576 1,851
Deferred income taxes (674) 780
Other non-cash items, net 1,236 (67)
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable (4,087) 8,584
Inventories (3,359) (2,629)
Prepaid expenses and other assets 1,089 (6,273)
Accounts payable and other liabilities 1,055 (6,679)
Income taxes 4,459 3,492
Net cash provided by operating activities 32,269 30,072
Cash flows from investing activities    
Capital expenditures (38,834) (6,492)
Acquisition of businesses, net of cash acquired (17,000) (60,345)
Net cash used in investing activities (55,834) (66,837)
Cash flows from financing activities    
Repayments of long-term debt (2,500) 0
Borrowings under revolving credit facility 0 61,300
Repayments under revolving credit facility 0 (19,300)
Purchases of treasury stock (4,288) (5,822)
Net cash (used in) provided by financing activities (6,788) 36,178
Effect of exchange rate changes on cash and cash equivalents 286 1,223
(Decrease) increase in cash and cash equivalents (30,067) 636
Cash and cash equivalents at beginning of period 94,097 36,584
Cash and cash equivalents at end of period $ 64,030 $ 37,220