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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Apr. 30, 2019
Apr. 30, 2018
Net sales $ 289,745 $ 298,421 $ 865,367 $ 876,352
Cost of goods sold 143,996 147,339 433,269 435,513
Gross margin 145,749 151,082 432,098 440,839
Operating expenses:        
Research and development 11,437 11,678 33,837 33,512
Selling, general and administrative 94,691 101,695 281,988 299,411
Total operating expenses 106,128 113,373 315,825 332,923
Operating income 39,621 37,709 116,273 107,916
Other income (expense):        
Investment and other income 2,065 31 3,425 1,303
Interest expense (708) (761) (2,137) (2,453)
Income before income taxes 40,978 36,979 117,561 106,766
Income tax expense 6,197 10,979 22,916 50,657
Net income $ 34,781 $ 26,000 $ 94,645 $ 56,109
Weighted average common shares outstanding (in thousands):        
Basic 52,766 51,747 52,499 51,628
Diluted 53,480 52,729 53,215 52,610
Class A nonvoting common stock        
Earnings Per Share        
Net earnings per share, basic $ 0.66 $ 0.50 $ 1.80 $ 1.09
Net earnings per share, diluted 0.65 0.49 1.78 1.07
Dividends 0.21 0.21 0.64 0.62
Class B voting common stock        
Earnings Per Share        
Net earnings per share, basic 0.66 0.50 1.79 1.07
Net earnings per share, diluted 0.65 0.49 1.76 1.05
Dividends $ 0.21 $ 0.21 $ 0.62 $ 0.61