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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
Operating activities:      
Net income $ 11,376 $ 34,766 $ 33,483
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 23,754 12,698 11,849
Amortization of debt issuance costs and debt discount 5,847 3,496  
Amortization of deferred financing costs 570    
Provision for doubtful accounts (3) 76 484
Non-cash stock compensation 6,956 6,719 4,537
Deferred income taxes (504) (18) (1,874)
Earnings on equity investment in joint venture (2,336) (2,060) (1,761)
Contingent consideration   (1,074) (3,468)
Amortization of inventory step-up 4,502    
Environmental remediation charge 903 1,313 1,618
Changes in assets and liabilities:      
Trade accounts receivable (17,598) (6,149) (44,181)
Other receivables 185 136 (5,644)
Inventory (2,958) (2,489) (229)
Prepaid expenses and other current assets 1,209 (243) 304
Other assets (157) (557) 1,254
Accounts payable (3,097) (8,937) 8,133
Accrued expenses and other liabilities 14,010 (7,689) 1,816
Distributions from joint venture 1,908 1,843 2,022
Net cash provided by operating activities 44,567 31,831 8,343
Investing activities:      
Payment for net assets acquired (270,000)    
Purchases of investments (2,035) (34) (2,720)
Sales of investments 909 2,517  
Payments for intangible assets (3,359) (11,249) (1,564)
Purchases of property and equipment, net (1,893) (1,128) (617)
Net cash used in investing activities (276,378) (9,894) (4,901)
Financing activities:      
Proceeds from exercise of stock options 551 729 1,273
Excess income tax benefit on stock option exercises and restricted stock 546 1,219 790
Payment of cash dividends (7,831) (7,084) (6,964)
Payment of deferred consideration     (3,500)
Payment of contingent consideration   (1,500) (4,500)
Proceeds from convertible senior notes   143,750  
Payment for debt issuance costs   (5,153)  
Proceeds from sold warrants   13,685  
Purchase of call option (hedge)   (27,174)  
Termination payment for interest rate swap   (420)  
Borrowings of bank loans 275,000 15,500 19,000
Payment for deferred financing costs (5,407)    
Repayment of bank loans (42,697) (122,697) (14,344)
Net cash provided by (used in) financing activities 220,162 10,855 (8,245)
Effect of foreign exchange rate changes on cash 501 16 (4,074)
Net (decrease) increase in cash and cash equivalents (11,148) 32,808 (8,877)
Cash and cash equivalents at beginning of period 66,828 34,020 42,897
Cash and cash equivalents at end of period $ 55,680 $ 66,828 $ 34,020