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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Cash flows from operating activities:    
Net income $ 8,634 $ (465)
Adjustments to reconcile net income to net cash used in operating activities    
Provision for of doubtful accounts 150 105
Deferred income taxes 2,314 (158)
Depreciation and amortization 453 383
Stock based and restricted stock compensation 163 201
Loss on disposal of property and equipment 7 0
Non-cash operating lease expense 214 251
(Increase) decrease in operating assets    
Accounts receivable (7,589) 1,144
Inventories 6,656 (4,414)
Prepaid VAT and other taxes (288) 127
Other current assets (1,199) (247)
Increase (decrease) in operating liabilities    
Accounts payable (1,008) 4,242
Accrued expenses and other liabilities 2,017 596
Operating lease liabilities (271) (251)
Net cash used in operating activities 10,253 1,514
Cash flows used in investing activities:    
Purchases of property and equipment (194) (168)
Cash flows from financing activities:    
Loan repayments, short-term (1,181) 0
Loan borrowings, short-term 158 0
Loan repayments, long-term 0 (40)
UK borrowings (repayments) under line of credit facility, net 0 156
Shares returned to pay employee taxes under restricted stock program (20) 0
Net cash provided by (used in) financing activities (1,043) 116
Effect of exchange rate changes on cash and cash equivalents (149) (11)
Net decrease in cash and cash equivalents 8,867 1,451
Cash and cash equivalents at beginning of period 14,606 12,831
Cash and cash equivalents at end of period 23,473 14,282
Supplemental disclosure of cash flow information:    
Cash paid for interest 17 34
Cash paid for taxes 861 276
Noncash investing and financing activities    
Leased assets obtained in exchange for operating lease liabilities $ 215 $ 2,486