Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Net income $ 12,063 $ 7,168
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash operating lease expense 2,317 1,134
Foreign currency adjustments (1,106) 0
Depreciation 19,523 16,843
Deferred income taxes 1,128 236
Amortization of deferred financing costs 957 916
Amortization of intangible assets 9,647 11,471
Stock-based compensation expense 2,204 2,831
Change in fair value of warrant liabilities (5,728) (2,474)
Net gain on the sale of property, plant and equipment (640) (910)
Provision for bad debt (70) 50
Net changes in operating assets and liabilities:    
Trade receivables 867 (8,381)
Inventory (681) (553)
Prepaid expenses and other assets (3,216) (3,882)
Accounts payable (1,112) (1,249)
Accrued payroll, accrued expenses and other liabilities (5,061) (1,809)
Net cash provided by operating activities 31,092 21,391
Cash flows from investing activities:    
Purchases of property, plant and equipment (34,745) (60,332)
Proceeds from sale of property, plant and equipment 4,416 4,636
Purchases of intangible assets (800) (1,450)
Net cash used in investing activities (31,129) (57,146)
Cash flows from financing activities:    
Proceeds on revolving loan 174,504 179,933
Payments on revolving loan (167,213) (150,759)
Purchase of treasury stock (8,285) (1,012)
Other financing activities (58) (5)
Net cash provided by (used in) financing activities (1,052) 28,157
Effect of foreign currency exchange rate on cash 250 970
Net decrease in cash and cash equivalents (839) (6,628)
Cash and cash equivalents:    
Beginning of period 7,482 9,298
End of period 6,643 2,670
Supplemental cash flow information:    
Cash paid for interest 13,000 11,589
Cash paid (refunded) for income taxes (182) 145
Non-cash investing and financing activities:    
Equipment purchases included in accrued expenses and accounts payable 2,566 6,335
Operating lease right-of-use assets recorded upon adoption of ASC 842 0 18,625
Operating lease liabilities recorded upon adoption of ASC 842 0 18,593
Operating lease assets obtained in exchange for new operating lease liabilities $ 3,658 $ 2,056