Strong Cash Position Despite Increased InvestmentsAt July 31, 2012, cash and investment balances were $44.1 million, down from $47.0 million a year ago. Increases in capital expenditures and the $12 million payment to acquire Vista Research, Inc., in the fourth quarter last year were partially offset by cash flows from operations. Accounts receivable increased to $49.9 million compared with $43.2 million at July 31, 2011. Inventories were $50.4 million, essentially unchanged from $50.2 million one year earlier. Average accounts receivable days outstanding remained consistent year-over-year while inventory turns declined slightly. First-half operating cash flows increased to $44.5 million from $26.3 million in the prior year.
Raven Industries Reports Fiscal 2013 Second-Quarter Results
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