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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Operating activities    
Net income $ 18,973 $ 14,092
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,716 2,455
Non-cash lease benefits (418) (340)
Provision for credit losses 30 30
Amortization of debt issuance costs 64 55
Deferred income taxes (19) 700
Stock-based compensation 270 252
Amortization of net actuarial gain for pension plans (75) 0
Non-cash unrealized gain on investment (812) (624)
Surrender of life insurance policies (265) (95)
Changes in operating assets and liabilities:    
Trade accounts receivable (32,934) (50,187)
Other receivables (35) 10
Inventories (203) (4,447)
Income taxes 3,607 3,346
Prepaid expenses and other current assets (1,419) (134)
Accounts payable and accrued liabilities 18,483 13,737
Net cash provided by (used in) operating activities 7,963 (21,150)
Investing activities:    
Purchases of property, plant and equipment (2,886) (2,795)
Proceeds from surrendering life insurance policies 145 0
Net cash used in investing activities (2,741) (2,795)
Financing activities:    
Borrowing from long-term debt 23,165 35,688
Repayment of long-term debt (23,288) (10,915)
Common stock repurchased (1,499) 0
Tax withholding payments on share-based compensation (412) (110)
Payment of deferred financing costs (50) (175)
Cash dividends paid (653) 0
Net cash (used in) provided by financing activities (2,737) 24,488
Net increase in cash 2,485 543
Cash at beginning of period 5,286 1,057
Cash at end of period 7,771 1,600
Supplemental disclosures of cash flow information:    
Property, plant and equipment acquired and not yet paid at end of period 531 1,074
Cash paid during the period for interest 530 1,795
Cash paid during the period for income taxes, net of refunds 2,405 345
Noncash investment in right-of-use assets in exchange for a lease liability $ 32,982 $ 0