Years Ended October 31, 1996, 1995 and 1994 1996 1995 1994
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 42,503,000 $ 23,286,000 $ 31,240,000
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 21,247,000 17,852,000 15,158,000
Provision for doubtful accounts 5,208,000 2,771,000 2,071,000
Gain on sales of securities and
other investments (3,010,000) (158,000) (3,228,000)
Provision for deferred employee
compensation 1,229,000 1,242,000 1,328,000
Deferred income taxes (1,740,000) 607,000 1,370,000
Other 103,000 (296,000) (1,050,000)
Increase (decrease) in cash resulting
from changes in:
Accounts receivable (47,392,000) (26,766,000) (3,000)
Inventories (6,468,000) (6,832,000) 1,513,000
Prepaid expenses and other current assets (1,298,000) 1,745,000 (2,894,000)
Trade payables 4,345,000 3,599,000 (646,000)
EmployeesÕ compensation 9,767,000 4,375,000 (3,570,000)
Accrued expenses and taxes 6,448,000 6,303,000 (6,940,000)
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Net cash provided by operating activities 30,942,000 27,728,000 34,349,000
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CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities and
other investments (3,854,000) (7,840,000) (2,972,000)
Proceeds from sales of marketable securities
and other investments 16,402,000 4,569,000 13,617,000
Purchase of real estate, equipment and
leasehold improvements (44,485,000) (19,954,000) (27,197,000)
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Net cash used in investing activities (31,937,000) (23,225,000) (16,552,000)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of debt (658,000) (351,000) (7,958,000)
Proceeds from stock options exercised 3,696,000 327,000 1,042,000
Payment of dividends (6,335,000) (6,260,000) (5,468,000)
Purchase of treasury stock (417,000) (74,000) (65,000)
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Net cash used in financing activities (3,714,000) (6,358,000) (12,449,000)
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Effect of exchange rate changes on cash (2,000) (19,000) 49,000
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Net increase (decrease) in cash and
cash equivalents (4,711,000) (1,874,000) 5,397,000
Cash and cash equivalents
- beginning of the year 36,590,000 38,464,000 33,067,000
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CASH AND CASH EQUIVALENTS
- END OF THE YEAR $ 31,879,000 $ 36,590,000 $ 38,464,000
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Supplemental cash flow disclosure:
Income taxes paid $ 31,508,000 $ 11,489,000 $ 28,961,000
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Interest paid $ 662,000 $ 871,000 $ 1,267,000
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See Notes to Consolidated Financial Statements.
Index |
1996 Financials Index |
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