XML 36 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statement of Cash Flows (USD $)
9 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Cash flows from operating activities:    
Net income $ 3,489,461 $ 6,252,523
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,502,607 1,288,410
Provision for deferred income taxes 53,611 (397,380)
Share-based compensation expense 547,688 405,881
Tax impact of share-based compensation 105,988 0
Gain on sale of assets 0 (290,526)
Provision for contract adjustments 186,368 919,608
Bad debt expense 0 450,000
(Increase) decrease in:    
- contract receivables 1,981,140 (9,355,472)
- other current assets (26,779) (123,997)
- income tax receivable (2,296,211) 0
- other non-current assets (14,676) (125,135)
Increase (decrease) in:    
- accounts payable (4,056,771) (2,220,679)
- accrued payroll costs (783,927) 2,677,237
- income taxes payable (1,377,647) 74,726
- billings in excess of revenue 1,610,950 3,815,885
- other accrued liabilities (614,000) 544,789
Net cash provided by operating activities 307,802 3,915,870
Cash flows provided by (used in) investing activities:    
Acquistion of noncontrolling interest of subsidiaries (892,294) (590,284)
Purchase of Engineering Consulting Services, Inc., net of cash equivalents of $309,487 0 (790,513)
Purchase of property, building and equipment (3,737,442) (1,049,772)
Change in accounts payable due to purchase of equipment 586,574 0
Proceeds from sale of property and equipment 0 322,807
Sale (purchase) of investment securities, net 95,659 (227,092)
Cash used in investing activities (3,947,503) (2,334,854)
Cash flows provided by (used in) financing activities:    
Dividends paid (2,046,657) (1,814,839)
Proceeds from debt 294,199 484,197
Repayment of debt and capital lease obligations (904,706) (813,093)
Proceeds from lines of credit 10,580,912 0
Distributions to noncontrolling interests (663,086) (615,366)
Proceeds from sale of subsidiary shares to noncontrolling interests 41,634 90,368
Purchase of treasury stock (363,050) (635,046)
Net cash provided by (used in) financing activities 6,939,246 (3,303,779)
Effect of exchange rate changes on cash and cash equivalents (324,278) 190,513
Net increase (decrease) in cash and cash equivalents 2,975,267 (1,532,250)
Cash and cash equivalents at beginning of period 8,529,842 14,347,194
Cash and cash equivalents at end of period $ 11,505,109 $ 12,814,944