XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Oct. 31, 2020
Oct. 31, 2019
Cash flows from operating activities:    
Net income $ 27,237,000 $ 2,076,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Provision for doubtful accounts 315,000 168,000
Deferred income taxes 3,194,000 667,000
Depreciation and amortization 1,425,000 1,267,000
Stock based and restricted stock compensation 1,245,000 (583,000)
Gain (loss) on disposal of property and equipment 5,000 (2,000)
Non-cash operating lease expense 267,000 797,000
(Increase) decrease in operating assets    
Accounts receivable (9,249,000) (1,257,000)
Inventories (808,000) (5,584,000)
Prepaid VAT and other taxes (10,000) 162,000
Other current assets (484,000) (355,000)
Accounts payable 810,000 67,000
Accrued expenses and other liabilities 4,365,000 517,000
Operating lease liabilities (286,000) (783,000)
Net cash provided by (used in) operating activities 28,026,000 (2,843,000)
Cash flows from investing activities:    
Purchases of property and equipment (1,325,000) (689,000)
Cash flows from financing activities:    
Loan repayments, short-term (1,319,000) (124,000)
Loan borrowings, short-term 158,000 0
UK borrowings under line of credit facility, net 0 491,000
Purchase of Treasury Stock under stock repurchase program 0 (97,000)
Shares returned to pay employee taxes under restricted stock program (79,000) (5,000)
Net cash (used in) provided by financing activities (1,240,000) 265,000
Effect of exchange rate changes on cash and cash equivalents 119,000 (91,000)
Net increase (decrease) in cash and cash equivalents 25,580,000 (3,358,000)
Cash and cash equivalents at beginning of period 14,606,000 12,831,000
Cash and cash equivalents at end of period 40,186,000 9,473,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 22,000 98,000
Cash paid for taxes 2,376,000 1,202,000
Noncash investing and financing activities    
Leased assets obtained in exchange for operating lease liabilities $ 870,000 $ 3,218,000