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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Cash flows from operating activities:    
Net income $ 17,973 $ 930
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for doubtful accounts 262 25
Deferred income taxes 1,309 302
Depreciation and amortization 934 836
Stock based and restricted stock compensation 409 (251)
Loss on disposal of property and equipment 9 0
Non-cash operating lease expense 469 527
(Increase) decrease in operating assets    
Accounts receivable (2,843) (1,615)
Inventories 1,178 (7,171)
Prepaid VAT and other taxes 7 355
Other current assets (2,283) (146)
Increase (decrease) in operating liabilities    
Accounts payable 3,330 2,110
Accrued expenses and other liabilities 2,083 797
Operating lease liabilities (506) (527)
Net cash provided by (used in) operating activities 22,331 (3,828)
Cash flows from investing activities:    
Purchases of property and equipment (740) (585)
Cash flows from financing activities:    
Net borrowing under revolving credit facility 0 332
Loan repayments, short-term (1,319) 0
Loan borrowings, short-term 158 0
Loan repayments, long-term 0 (79)
UK borrowings under line of credit facility, net 0 544
Purchase of Treasury Stock under stock repurchase program 0 (97)
Shares returned to pay employee taxes under restricted stock program (55) 0
Net cash (used in) provided by financing activities (1,216) 700
Effect of exchange rate changes on cash and cash equivalents (36) (62)
Net increase (decrease) in cash and cash equivalents 20,339 (3,775)
Cash and cash equivalents at beginning of period 14,606 12,831
Cash and cash equivalents at end of period 34,945 9,056
Supplemental disclosure of cash flow information:    
Cash paid for interest 19 72
Cash paid for taxes 1,726 931
Noncash investing and financing activities    
Leased assets obtained in exchange for operating lease liabilities $ 289 $ 3,095