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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Oil Dri Corp of America | NYSE:ODC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 76.82 | 0 | 13:02:30 |
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x
|
Quarterly Report Pursuant to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
For the Quarterly Period Ended April 30, 2016
|
|
o
|
Transition Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the transition period from _____________ to ______________
|
|
Delaware
(State or other jurisdiction of incorporation or
organization)
|
|
36-2048898
(I.R.S. Employer
Identification No.)
|
|
|
|
410 North Michigan Avenue, Suite 400
Chicago, Illinois
(Address of principal executive offices)
|
|
60611-4213
(Zip Code)
|
Large accelerated filer
o
|
Accelerated filer
x
|
Non-accelerated filer
o
|
Smaller reporting company
o
|
|
|
|
|
PART I – FINANCIAL INFORMATION
|
|
|
|
Page
|
Item 1:
|
||
|
|
|
Item 2:
|
||
|
|
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Item 3:
|
||
|
|
|
Item 4:
|
||
|
|
|
|
PART II – OTHER INFORMATION
|
|
|
|
|
Item 4:
|
||
|
|
|
Item 6:
|
||
|
|
|
|
|
(unaudited)
|
|
|
||||
ASSETS
|
April 30,
2016 |
|
July 31,
2015 |
||||
Current Assets
|
|
|
|
||||
Cash and cash equivalents
|
$
|
17,194
|
|
|
$
|
20,138
|
|
Short-term investments
|
10,493
|
|
|
2,190
|
|
||
Accounts receivable, less allowance of
$886 and $761 at April 30, 2016 and July 31, 2015, respectively |
29,161
|
|
|
31,466
|
|
||
Inventories
|
25,025
|
|
|
21,369
|
|
||
Deferred income taxes
|
2,468
|
|
|
2,468
|
|
||
Prepaid repairs expense
|
3,923
|
|
|
3,813
|
|
||
Prepaid expenses and other assets
|
1,681
|
|
|
1,199
|
|
||
Total Current Assets
|
89,945
|
|
|
82,643
|
|
||
|
|
|
|
||||
Property, Plant and Equipment
|
|
|
|
|
|
||
Cost
|
215,723
|
|
|
209,584
|
|
||
Less accumulated depreciation and amortization
|
(136,234
|
)
|
|
(129,929
|
)
|
||
Total Property, Plant and Equipment, Net
|
79,489
|
|
|
79,655
|
|
||
|
|
|
|
||||
Other Assets
|
|
|
|
|
|
||
Goodwill
|
9,034
|
|
|
9,034
|
|
||
Trademarks and patents, net of accumulated amortization
of $319 and $301 at April 30, 2016 and July 31, 2015, respectively |
906
|
|
|
818
|
|
||
Debt issuance costs, net of accumulated amortization
of $154 and $133 at April 30, 2016 and July 31, 2015, respectively |
125
|
|
|
146
|
|
||
Customer list, net of accumulated amortization
of $3,119 and $2,094 at April 30, 2016 and July 31, 2015, respectively |
4,666
|
|
|
5,691
|
|
||
Deferred income taxes
|
5,832
|
|
|
6,031
|
|
||
Other
|
6,152
|
|
|
6,013
|
|
||
Total Other Assets
|
26,715
|
|
|
27,733
|
|
||
|
|
|
|
||||
Total Assets
|
$
|
196,149
|
|
|
$
|
190,031
|
|
|
(unaudited)
|
|
|
||||
LIABILITIES & STOCKHOLDERS’ EQUITY
|
April 30,
2016 |
|
July 31,
2015 |
||||
Current Liabilities
|
|
|
|
||||
Current maturities of notes payable
|
$
|
3,083
|
|
|
$
|
3,483
|
|
Accounts payable
|
6,002
|
|
|
7,428
|
|
||
Dividends payable
|
1,407
|
|
|
1,376
|
|
||
Accrued expenses:
|
|
|
|
|
|||
Salaries, wages and commissions
|
9,254
|
|
|
6,245
|
|
||
Trade promotions and advertising
|
2,720
|
|
|
2,721
|
|
||
Freight
|
2,118
|
|
|
1,874
|
|
||
Other
|
6,063
|
|
|
5,761
|
|
||
Total Current Liabilities
|
30,647
|
|
|
28,888
|
|
||
|
|
|
|
||||
Noncurrent Liabilities
|
|
|
|
|
|
||
Notes payable
|
12,333
|
|
|
15,417
|
|
||
Deferred compensation
|
9,657
|
|
|
9,518
|
|
||
Pension and postretirement benefits
|
23,729
|
|
|
23,429
|
|
||
Other
|
3,232
|
|
|
2,251
|
|
||
Total Noncurrent Liabilities
|
48,951
|
|
|
50,615
|
|
||
|
|
|
|
||||
Total Liabilities
|
79,598
|
|
|
79,503
|
|
||
|
|
|
|
||||
Stockholders’ Equity
|
|
|
|
|
|
||
Common Stock, par value $.10 per share, issued 7,981,243 shares at April 30, 2016
and 7,936,343 shares at July 31, 2015 |
798
|
|
|
794
|
|
||
Class B Stock, par value $.10 per share, issued 2,515,735 shares at April 30, 2016
and 2,389,735 shares at July 31, 2015 |
252
|
|
|
239
|
|
||
Additional paid-in capital
|
33,809
|
|
|
32,632
|
|
||
Retained earnings
|
146,195
|
|
|
142,095
|
|
||
Accumulated other comprehensive loss:
|
|
|
|
|
|
||
Pension and postretirement benefits
|
(8,518
|
)
|
|
(8,975
|
)
|
||
Cumulative translation adjustment
|
(128
|
)
|
|
(270
|
)
|
||
Total accumulated other comprehensive loss
|
(8,646
|
)
|
|
(9,245
|
)
|
||
Less Treasury Stock, at cost (2,923,053 Common and 324,741 Class B shares at
April 30, 2016 and 2,932,796 Common and 324,741 Class B shares at July 31, 2015) |
(55,857
|
)
|
|
(55,987
|
)
|
||
Total Stockholders’ Equity
|
116,551
|
|
|
110,528
|
|
||
|
|
|
|
||||
Total Liabilities & Stockholders’ Equity
|
$
|
196,149
|
|
|
$
|
190,031
|
|
|
(unaudited)
|
||||||
|
For the Nine Months Ended April 30,
|
||||||
|
2016
|
|
2015
|
||||
|
|
|
|
||||
Net Sales
|
$
|
197,397
|
|
|
$
|
195,883
|
|
Cost of Sales
|
(139,114
|
)
|
|
(152,448
|
)
|
||
Gross Profit
|
58,283
|
|
|
43,435
|
|
||
Selling, General and Administrative Expenses
|
(46,342
|
)
|
|
(34,085
|
)
|
||
Income from Operations
|
11,941
|
|
|
9,350
|
|
||
|
|
|
|
||||
Other Income (Expense)
|
|
|
|
|
|
||
Interest expense
|
(768
|
)
|
|
(1,018
|
)
|
||
Interest income
|
18
|
|
|
11
|
|
||
Other, net
|
185
|
|
|
310
|
|
||
Total Other Expense, Net
|
(565
|
)
|
|
(697
|
)
|
||
|
|
|
|
||||
Income Before Income Taxes
|
11,376
|
|
|
8,653
|
|
||
Income Taxes
|
(3,024
|
)
|
|
(2,351
|
)
|
||
Net Income
|
8,352
|
|
|
6,302
|
|
||
|
|
|
|
||||
Retained Earnings:
|
|
|
|
||||
Balance at beginning of period
|
142,095
|
|
|
136,039
|
|
||
Cash dividends declared and treasury stock issuances
|
(4,252
|
)
|
|
(3,936
|
)
|
||
Balance at End of Period
|
$
|
146,195
|
|
|
$
|
138,405
|
|
|
|
|
|
||||
Net Income Per Share
|
|
|
|
||||
Basic Common
|
$
|
1.25
|
|
|
$
|
0.96
|
|
Basic Class B
|
$
|
0.94
|
|
|
$
|
0.72
|
|
Diluted
|
$
|
1.15
|
|
|
$
|
0.88
|
|
Average Shares Outstanding
|
|
|
|
||||
Basic Common
|
4,981
|
|
|
4,953
|
|
||
Basic Class B
|
2,049
|
|
|
2,018
|
|
||
Diluted
|
7,085
|
|
|
7,034
|
|
||
Dividends Declared Per Share
|
|
|
|
||||
Basic Common
|
$
|
0.6300
|
|
|
$
|
0.6000
|
|
Basic Class B
|
$
|
0.4725
|
|
|
$
|
0.4500
|
|
|
(unaudited)
|
||||||
|
For the Nine Months Ended April 30,
|
||||||
|
2016
|
|
2015
|
||||
|
|
|
|
||||
Net Income
|
$
|
8,352
|
|
|
$
|
6,302
|
|
|
|
|
|
||||
Other Comprehensive Income (Loss):
|
|
|
|
||||
Unrealized loss on marketable securities
|
—
|
|
|
(114
|
)
|
||
Pension and postretirement benefits (net of tax)
|
457
|
|
|
288
|
|
||
Cumulative translation adjustment
|
142
|
|
|
(303
|
)
|
||
Other Comprehensive Income (Loss)
|
599
|
|
|
(129
|
)
|
||
Total Comprehensive Income
|
$
|
8,951
|
|
|
$
|
6,173
|
|
|
(unaudited)
|
||||||
|
For the Three Months Ended April 30,
|
||||||
|
2016
|
|
2015
|
||||
|
|
|
|
||||
Net Sales
|
$
|
64,235
|
|
|
$
|
65,196
|
|
Cost of Sales
|
(45,667
|
)
|
|
(50,763
|
)
|
||
Gross Profit
|
18,568
|
|
|
14,433
|
|
||
Selling, General and Administrative Expenses
|
(19,803
|
)
|
|
(12,524
|
)
|
||
(Loss) Income from Operations
|
(1,235
|
)
|
|
1,909
|
|
||
|
|
|
|
||||
Other Income (Expense)
|
|
|
|
|
|
||
Interest expense
|
(257
|
)
|
|
(329
|
)
|
||
Interest income
|
9
|
|
|
6
|
|
||
Other, net
|
250
|
|
|
316
|
|
||
Total Other Income (Expense), Net
|
2
|
|
|
(7
|
)
|
||
|
|
|
|
||||
(Loss) Income Before Income Taxes
|
(1,233
|
)
|
|
1,902
|
|
||
Income Taxes
|
341
|
|
|
(517
|
)
|
||
Net (Loss) Income
|
(892
|
)
|
|
1,385
|
|
||
|
|
|
|
||||
Net (Loss) Income Per Share
|
|
|
|
||||
Basic Common
|
$
|
(0.14
|
)
|
|
$
|
0.21
|
|
Basic Class B
|
$
|
(0.10
|
)
|
|
$
|
0.16
|
|
Diluted
|
$
|
(0.13
|
)
|
|
$
|
0.19
|
|
Average Shares Outstanding
|
|
|
|
||||
Basic Common
|
4,986
|
|
|
4,957
|
|
||
Basic Class B
|
2,055
|
|
|
2,022
|
|
||
Diluted
|
7,041
|
|
|
7,046
|
|
||
Dividends Declared Per Share
|
|
|
|
||||
Basic Common
|
$
|
0.2100
|
|
|
$
|
0.2000
|
|
Basic Class B
|
$
|
0.1575
|
|
|
$
|
0.1500
|
|
|
(unaudited)
|
||||||
|
For the Three Months Ended April 30,
|
||||||
|
2016
|
|
2015
|
||||
|
|
|
|
||||
Net (Loss) Income
|
$
|
(892
|
)
|
|
$
|
1,385
|
|
|
|
|
|
||||
Other Comprehensive Income:
|
|
|
|
||||
Pension and postretirement benefits (net of tax)
|
149
|
|
|
96
|
|
||
Cumulative translation adjustment
|
292
|
|
|
134
|
|
||
Other Comprehensive Income
|
441
|
|
|
230
|
|
||
Total Comprehensive (Loss) Income
|
$
|
(451
|
)
|
|
$
|
1,615
|
|
|
(unaudited)
|
||||||
|
For the Nine Months Ended April 30,
|
||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
2016
|
|
2015
|
||||
Net Income
|
$
|
8,352
|
|
|
$
|
6,302
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||
Depreciation and amortization
|
8,991
|
|
|
8,955
|
|
||
Amortization of investment net discount
|
(6
|
)
|
|
(1
|
)
|
||
Non-cash stock compensation expense
|
962
|
|
|
866
|
|
||
Excess tax benefits for share-based payments
|
(68
|
)
|
|
(68
|
)
|
||
Deferred income taxes
|
280
|
|
|
431
|
|
||
Provision for bad debts and cash discounts
|
149
|
|
|
215
|
|
||
Loss on the sale of fixed assets
|
199
|
|
|
112
|
|
||
Gain on sale of marketable securities
|
—
|
|
|
(105
|
)
|
||
Life insurance benefits
|
—
|
|
|
(117
|
)
|
||
(Increase) Decrease in assets:
|
|
|
|
|
|
||
Accounts receivable
|
2,140
|
|
|
(1,183
|
)
|
||
Inventories
|
(3,653
|
)
|
|
198
|
|
||
Prepaid expenses
|
(593
|
)
|
|
1,655
|
|
||
Other assets
|
(270
|
)
|
|
(1,438
|
)
|
||
Increase (Decrease) in liabilities:
|
|
|
|
|
|
||
Accounts payable
|
(1,383
|
)
|
|
(691
|
)
|
||
Accrued expenses
|
3,365
|
|
|
348
|
|
||
Deferred compensation
|
139
|
|
|
478
|
|
||
Pension and postretirement benefits
|
757
|
|
|
144
|
|
||
Other liabilities
|
48
|
|
|
167
|
|
||
Total Adjustments
|
11,057
|
|
|
9,966
|
|
||
Net Cash Provided by Operating Activities
|
19,409
|
|
|
16,268
|
|
||
|
|
|
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
|
|
|
|
|
||
Capital expenditures
|
(7,052
|
)
|
|
(13,945
|
)
|
||
Proceeds from sale of property, plant and equipment
|
256
|
|
|
22
|
|
||
Restricted cash
|
—
|
|
|
129
|
|
||
Purchases of short-term investments
|
(26,977
|
)
|
|
(700
|
)
|
||
Dispositions of short-term investments
|
18,680
|
|
|
2,861
|
|
||
Proceeds from sale of marketable securities
|
—
|
|
|
108
|
|
||
Proceeds from life insurance
|
—
|
|
|
903
|
|
||
Net Cash Used in Investing Activities
|
(15,093
|
)
|
|
(10,622
|
)
|
||
|
|
|
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
|
|
|
|
|
||
Principal payments on notes payable
|
(3,484
|
)
|
|
(3,500
|
)
|
||
Dividends paid
|
(4,190
|
)
|
|
(3,937
|
)
|
||
Purchase of treasury stock
|
(18
|
)
|
|
(122
|
)
|
||
Proceeds from issuance of treasury stock
|
185
|
|
|
—
|
|
||
Proceeds from issuance of common stock
|
96
|
|
|
15
|
|
||
Excess tax benefits for share-based payments
|
68
|
|
|
68
|
|
||
Net Cash Used in Financing Activities
|
(7,343
|
)
|
|
(7,476
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
83
|
|
|
(21
|
)
|
||
Net Decrease in Cash and Cash Equivalents
|
(2,944
|
)
|
|
(1,851
|
)
|
||
Cash and Cash Equivalents, Beginning of Period
|
20,138
|
|
|
16,230
|
|
||
Cash and Cash Equivalents, End of Period
|
$
|
17,194
|
|
|
$
|
14,379
|
|
|
(unaudited)
|
||||||
|
For the Nine Months Ended April 30,
|
||||||
|
2016
|
|
2015
|
||||
Supplemental disclosure of non-cash investing and financing activities:
|
|
|
|
||||
Capital expenditures accrued, but not paid
|
$
|
353
|
|
|
$
|
376
|
|
Cash dividends declared and accrued, but not paid
|
$
|
1,407
|
|
|
$
|
1,310
|
|
|
April 30,
2016 |
|
July 31,
2015 |
||||
Finished goods
|
$
|
14,944
|
|
|
$
|
12,117
|
|
Packaging
|
4,923
|
|
|
4,735
|
|
||
Other
|
5,158
|
|
|
4,517
|
|
||
Total Inventories
|
$
|
25,025
|
|
|
$
|
21,369
|
|
2017
|
$
|
1,226
|
|
2018
|
$
|
1,019
|
|
2019
|
$
|
831
|
|
2020
|
$
|
659
|
|
2021
|
$
|
475
|
|
|
Pension Benefits
|
||||||||||||||
|
(in thousands)
|
||||||||||||||
|
For the Three Months Ended April 30,
|
|
For the Nine Months Ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Service cost
|
$
|
370
|
|
|
$
|
402
|
|
|
$
|
1,126
|
|
|
$
|
1,205
|
|
Interest cost
|
479
|
|
|
463
|
|
|
1,446
|
|
|
1,388
|
|
||||
Expected return on plan assets
|
(480
|
)
|
|
(470
|
)
|
|
(1,442
|
)
|
|
(1,409
|
)
|
||||
Amortization of:
|
|
|
|
|
|
|
|
||||||||
Prior service costs
|
2
|
|
|
2
|
|
|
6
|
|
|
7
|
|
||||
Other actuarial loss
|
239
|
|
|
144
|
|
|
735
|
|
|
433
|
|
||||
Net periodic benefit cost
|
$
|
610
|
|
|
$
|
541
|
|
|
$
|
1,871
|
|
|
$
|
1,624
|
|
|
|
|
|
|
|
|
|
||||||||
|
Postretirement Health Benefits
|
||||||||||||||
|
(in thousands)
|
||||||||||||||
|
For the Three Months Ended April 30,
|
|
For the Nine Months Ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Service cost
|
$
|
27
|
|
|
$
|
33
|
|
|
$
|
70
|
|
|
$
|
100
|
|
Interest cost
|
21
|
|
|
26
|
|
|
62
|
|
|
79
|
|
||||
Amortization of:
|
|
|
|
|
|
|
|
||||||||
Net transition obligation
|
—
|
|
|
1
|
|
|
—
|
|
|
1
|
|
||||
Prior service costs
|
(2
|
)
|
|
(2
|
)
|
|
(5
|
)
|
|
(5
|
)
|
||||
Other actuarial loss
|
—
|
|
|
10
|
|
|
—
|
|
|
28
|
|
||||
Net periodic benefit cost
|
$
|
46
|
|
|
$
|
68
|
|
|
$
|
127
|
|
|
$
|
203
|
|
|
Pension Benefits
|
|
Postretirement Health Benefits
|
||||||||
|
For the Three and Nine Months Ended April 30,
|
||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||
Discount rate for net periodic benefit cost
|
4.22
|
%
|
|
4.28
|
%
|
|
3.51
|
%
|
|
3.87
|
%
|
Rate of increase in compensation levels
|
3.50
|
%
|
|
3.50
|
%
|
|
—
|
|
|
—
|
|
Long-term expected rate of return on assets
|
7.50
|
%
|
|
7.50
|
%
|
|
—
|
|
|
—
|
|
|
|
|
|
|
Assets
|
||||||||||
|
|
|
|
|
April 30, 2016
|
|
July 31, 2015
|
||||||||
|
|
|
|
|
(in thousands)
|
||||||||||
Business to Business Products
|
|
$
|
54,807
|
|
|
$
|
55,767
|
|
|||||||
Retail and Wholesale Products
|
|
97,131
|
|
|
96,043
|
|
|||||||||
Unallocated Assets
|
|
44,211
|
|
|
38,221
|
|
|||||||||
Total Assets
|
|
$
|
196,149
|
|
|
$
|
190,031
|
|
|||||||
|
|
|
|
|
|
|
|
||||||||
|
For the Nine Months Ended April 30,
|
||||||||||||||
|
Net Sales
|
|
Income
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(in thousands)
|
||||||||||||||
Business to Business Products
|
$
|
70,919
|
|
|
$
|
68,549
|
|
|
$
|
24,049
|
|
|
$
|
20,990
|
|
Retail and Wholesale Products
|
126,478
|
|
|
127,334
|
|
|
5,682
|
|
|
2,521
|
|
||||
Total Sales
|
$
|
197,397
|
|
|
$
|
195,883
|
|
|
|
|
|
||||
Corporate Expenses
|
|
(17,790
|
)
|
|
(14,161
|
)
|
|||||||||
Income from Operations
|
|
11,941
|
|
|
9,350
|
|
|||||||||
Total Other Expense, Net
|
|
(565
|
)
|
|
(697
|
)
|
|||||||||
Income before Income Taxes
|
|
11,376
|
|
|
8,653
|
|
|||||||||
Income Taxes
|
|
(3,024
|
)
|
|
(2,351
|
)
|
|||||||||
Net Income
|
|
$
|
8,352
|
|
|
$
|
6,302
|
|
|
|
|
|
|
|
|
|
||||||||
|
For the Three Months Ended April 30,
|
||||||||||||||
|
Net Sales
|
|
Income (Loss)
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(in thousands)
|
||||||||||||||
Business to Business Products
|
$
|
22,473
|
|
|
$
|
21,854
|
|
|
$
|
7,304
|
|
|
$
|
6,676
|
|
Retail and Wholesale Products
|
41,762
|
|
|
43,342
|
|
|
(4,015
|
)
|
|
373
|
|
||||
Total Sales
|
$
|
64,235
|
|
|
$
|
65,196
|
|
|
|
|
|
||||
Corporate Expenses
|
|
(4,524
|
)
|
|
(5,140
|
)
|
|||||||||
(Loss) Income from Operations
|
|
(1,235
|
)
|
|
1,909
|
|
|||||||||
Total Other Income (Expense), Net
|
|
2
|
|
|
(7
|
)
|
|||||||||
(Loss) Income before Income Taxes
|
|
(1,233
|
)
|
|
1,902
|
|
|||||||||
Income Taxes
|
|
341
|
|
|
(517
|
)
|
|||||||||
Net (Loss) Income
|
|
$
|
(892
|
)
|
|
$
|
1,385
|
|
|
Number of Shares
|
|
Weighted Average Exercise Price
|
|
Weighted Average Remaining Contractual Term
|
|
Aggregate Intrinsic Value
|
|||||
|
(in thousands)
|
|
|
|
(Years)
|
|
(in thousands)
|
|||||
Options outstanding and exercisable, July 31, 2015
|
41
|
|
|
$
|
15.43
|
|
|
0.9
|
|
$
|
447
|
|
Exercised
|
(19
|
)
|
|
$
|
15.01
|
|
|
|
|
$
|
242
|
|
Options outstanding and exercisable, April 30, 2016
|
22
|
|
|
$
|
15.79
|
|
|
0.3
|
|
$
|
395
|
|
|
Restricted Shares
(in thousands)
|
|
Weighted Average Grant Date Fair Value
|
|||
Non-vested restricted stock outstanding at July 31, 2015
|
74
|
|
|
$
|
28.83
|
|
Granted
|
165
|
|
|
$
|
28.59
|
|
Vested
|
(31
|
)
|
|
$
|
23.56
|
|
Forfeitures
|
(2
|
)
|
|
$
|
31.86
|
|
Non-vested restricted stock outstanding at April 30, 2016
|
206
|
|
|
$
|
29.39
|
|
|
Pension and Postretirement Health Benefits
|
|
Cumulative Translation Adjustment
|
|
Total Accumulated Other Comprehensive (Loss) Income
|
||||||
Balance as of July 31, 2015
|
$
|
(8,975
|
)
|
|
$
|
(270
|
)
|
|
$
|
(9,245
|
)
|
Other comprehensive income before reclassifications, net of tax
|
—
|
|
|
142
|
|
|
142
|
|
|||
Amounts reclassified from accumulated other comprehensive loss, net of tax
|
457
|
|
a)
|
—
|
|
|
457
|
|
|||
Net current-period other comprehensive income, net of tax
|
457
|
|
|
142
|
|
|
599
|
|
|||
Balance as of April 30, 2016
|
$
|
(8,518
|
)
|
|
$
|
(128
|
)
|
|
$
|
(8,646
|
)
|
|
For the Nine Months Ended April 30,
|
||||||
|
2016
|
|
2015
|
||||
Net cash provided by operating activities
|
$
|
19,409
|
|
|
$
|
16,268
|
|
Net cash used in investing activities
|
(15,093
|
)
|
|
(10,622
|
)
|
||
Net cash used in financing activities
|
(7,343
|
)
|
|
(7,476
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
83
|
|
|
(21
|
)
|
||
Net decrease in cash and cash equivalents
|
$
|
(2,944
|
)
|
|
$
|
(1,851
|
)
|
|
Payments Due by Period
|
||||||||||||||||||
Contractual Obligations
|
Total
|
|
Less Than 1 Year
|
|
1 – 3 Years
|
|
4 – 5 Years
|
|
After 5 Years
|
||||||||||
Notes Payable
|
$
|
15,416
|
|
|
$
|
3,083
|
|
|
$
|
6,167
|
|
|
$
|
6,166
|
|
|
$
|
—
|
|
Interest on Notes Payable
|
1,536
|
|
|
554
|
|
|
738
|
|
|
244
|
|
|
—
|
|
|||||
Operating Leases
|
15,009
|
|
|
1,459
|
|
|
2,463
|
|
|
1,730
|
|
|
9,357
|
|
|||||
Unconditional Purchase Obligations
|
546
|
|
|
546
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total Contractual Cash Obligations
|
$
|
32,507
|
|
|
$
|
5,642
|
|
|
$
|
9,368
|
|
|
$
|
8,140
|
|
|
$
|
9,357
|
|
|
Amount of Commitment Expiration Per Period
|
||||||||||||||||||
|
Total
|
|
Less Than 1 Year
|
|
1 – 3 Years
|
|
4 – 5 Years
|
|
After 5 Years
|
||||||||||
Other Commercial Commitments
|
$
|
31,969
|
|
|
$
|
31,969
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Commodity Price Sensitivity
Natural Gas Future Contracts For the Three Months Ending July 31, 2016 |
|||||
|
Expected Fiscal 2016 Maturity
|
Fair Value
|
||||
Natural Gas Future Volumes (MMBtu)
|
120,000
|
|
—
|
|
||
Weighted Average Price (Per MMBtu)
|
$
|
2.22
|
|
—
|
|
|
Contracted Amount ($ U.S., in thousands)
|
$
|
266
|
|
$
|
248
|
|
|
Commodity Price Sensitivity
Natural Gas Future Contracts For the Twelve Months Ending July 31, 2017 |
|||||
|
Expected Fiscal 2017 Maturity
|
Fair Value
|
||||
Natural Gas Future Volumes (MMBtu)
|
120,000
|
|
—
|
|
||
Weighted Average Price (Per MMBtu)
|
$
|
2.33
|
|
—
|
|
|
Contracted Amount ($ U.S., in thousands)
|
$
|
280
|
|
$
|
276
|
|
Exhibit
No.
|
|
Description
|
|
SEC Document Reference
|
|
|
|
|
|
11
|
|
Statement re: Computation of Earnings per Share.
|
|
Filed herewith.
|
|
|
|
|
|
31
|
|
Certifications pursuant to Rule 13a–14(a).
|
|
Filed herewith.
|
|
|
|
|
|
32
|
|
Certifications pursuant to Section 1350 of the Sarbanes-Oxley Act of 2002.
|
|
Furnished herewith.
|
|
|
|
|
|
95
|
|
Mine Safety Disclosures
|
|
Filed herewith.
|
|
|
|
|
|
101.INS
|
|
XBRL Taxonomy Instance Document
|
|
Filed herewith.
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
Filed herewith.
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
Filed herewith.
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
Filed herewith.
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Labels Linkbase Document
|
|
Filed herewith.
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase
|
|
Filed herewith.
|
Exhibit No.
|
|
Description
|
|
|
|
|
|
11
|
|
|
Statement re: Computation of Earnings per Share.
|
|
|
|
|
31
|
|
|
Certifications pursuant to Rule 13a–14(a).
|
|
|
|
|
32
|
|
|
Certifications pursuant to Section 1350 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
95
|
|
|
Mine Safety Disclosures
|
|
|
|
|
101.INS
|
|
|
XBRL Taxonomy Instance Document
|
|
|
|
|
101.SCH
|
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
101.CAL
|
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
101.DEF
|
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
101.LAB
|
|
|
XBRL Taxonomy Extension Labels Linkbase Document
|
|
|
|
|
101.PRE
|
|
|
XBRL Taxonomy Extension Presentation Linkbase
|
1 Year Oil Dri Corp of America Chart |
1 Month Oil Dri Corp of America Chart |
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