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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Cash flows from operating activities    
Net income $ 14,254 $ 11,239
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,822 2,312
Amortization 3,094 2,956
Stock-based compensation expense 1,720 1,581
Amortization of debt issuance costs 100 100
Loss on disposal of fixed assets 100 13
Fair value adjustments to acquisition related liabilities (592) 147
Deferred income taxes 1,322 1,488
Excess tax benefits from stock-based compensation (1,489) (2,473)
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Accounts receivable (236) (2,950)
Inventories (2,295) (1,389)
Prepaid expenses and other current assets (5,534) (783)
Accounts payable and other current liabilities (3,005) (4,087)
Income taxes 4,854 4,549
Net cash provided by operating activities 15,115 12,703
Cash flows from investing activities    
Capital expenditures (3,167) (3,055)
Proceeds from disposal of fixed assets   15
Acquisition of Medical Innovations, net of cash acquired (79,810)  
Restricted cash for IMS Acquisition   (24,257)
Net asset value adjustment for PuriCore Acquisition   337
Other, net (12) (56)
Net cash used in investing activities (82,989) (27,016)
Cash flows from financing activities    
Borrowings under revolving credit facility 83,000 25,000
Repayments under revolving credit facility (14,000) (12,000)
Proceeds from exercises of stock options   323
Excess tax benefits from stock-based compensation 1,489 2,473
Purchases of treasury stock (3,138) (3,274)
Net cash provided by financing activities 67,351 12,522
Effect of exchange rate changes on cash and cash equivalents (66) (276)
Decrease in cash and cash equivalents (589) (2,067)
Cash and cash equivalents at beginning of period 31,720 31,781
Cash and cash equivalents at end of period $ 31,131 $ 29,714