XML 32 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jan. 31, 2014
Jan. 31, 2013
Cash flows from operating activities:    
Net (loss) income $ (128,593) $ 2,474,238
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,102,492 1,183,767
(Provision) benefit for deferred income taxes (148,589) (890,374)
Share based compensation expense 178,100 255,985
Tax impact of share-based compensation (31,695) 0
Gain on sale of assets and investment securities 0 (9,100)
Provisions for contract adjustments and doubtful accounts (245,828) (21,987)
Decrease (increase) in:    
- contract receivables 5,653,165 10,292,264
- other current assets (869,757) (1,089,053)
- income tax receivable 1,161,386 2,502,431
- other non-current assets 58,320 12,596
(Decrease) increase in:    
- accounts payable (1,468,585) (2,107,668)
- accrued payroll costs (113,580) 343,709
- income taxes payable (2,873) 321,911
- billings in excess of revenue (109,183) (1,694,637)
- other accrued liabilities 346,888 (302,702)
Net cash provided by operating activities 6,381,668 11,271,380
Cash flows from investing activities:    
Acquistion of noncontrolling interest of subsidiaries (689,361) (577,272)
Purchase of property, building and equipment (880,263) (1,336,581)
Sale (purchase) of investment securities 55,989 (1,536,550)
Net cash used in investing activities (1,513,635) (3,450,403)
Cash flows from financing activities:    
Dividends paid (1,019,955) (2,037,323)
Proceeds from debt 545,877 0
Repayment of debt and capital lease obligations (654,544) (230,050)
Net repayments of lines of credit (4,517,317) (5,543,495)
Distributions to noncontrolling interests (380,048) (808,429)
Purchase of treasury stock (173,278) 0
Net cash used in financing activities (6,199,265) (8,619,297)
Effect of exchange rate changes on cash and cash equivalents 19,196 194,040
Net decrease in cash and cash equivalents (1,312,036) (604,280)
Cash and cash equivalents at beginning of period 9,444,660 10,467,770
Cash and cash equivalents at end of period 8,132,624 9,863,490
Cash paid during the year for:    
- Interest 91,769 179,573
- Income Taxes (1,249,299) 284,285
Supplemental disclosure of non-cash items:    
Dividends declared and not paid 1,033,551 0
Acquisition of noncontrolling interest of subsidiaries - loan / stock 1,041,824 212,401
Change in accounts payable due to equipment purchases $ 109,701 $ 670,678