the company continues to focus on gross margin improvements through the brady business performance system , lean , and strategic sourcing efforts . research and development expenses increased to $ 43.0 million in fiscal 2011 from $ 42.6 million in fiscal 2010 , and declined as a percentage of sales in fiscal 2011 to 3.2 % compared to 3.4 % in fiscal 2010. the increase in r & d spending was due to the company 's continued commitment to innovation and new product development . this investment declined as percentage of sales slightly in fiscal 2011 as a result of the elimination of the r & d expenses incurred by the company 's previously owned teklynx business . 19 selling , general , and administrative ( sg & a ) expenses increased to $ 441.8 million in fiscal 2011 as compared to $ 435.9 million in fiscal 2010. sg & a expenses increased during the fiscal year mainly due to the fluctuations in exchange rates . the company divested of its teklynx business resulting in a pre-tax gain of $ 4.4 million , which is included in sg & a . this pre-tax gain was offset by the associated transaction-related costs and income tax expense , resulting in a net income impact of $ 0.8 million during fiscal 2011. sg & a also increased in fiscal 2011 as a result of the annual merit increases , and increased advertising campaign expenses . as a percentage of sales , sg & a declined to 33.0 % in fiscal 2011 from 34.6 % in fiscal 2010 as the company continues to reduce administrative costs through its cost reduction activities including simplifying , standardizing , and automating processes . restructuring charges were $ 9.2 million and $ 15.3 million during fiscal 2011 and 2010 , respectively . during fiscal 2010 and 2011 , the company incurred restructuring related costs as a result of facility consolidations and continued workforce reduction activities . the costs associated with the workforce reduction primarily include employee separation costs , consisting of severance pay , outplacement services , medical , and other related benefits for the company 's work force . interest expense increased to $ 22.1 million from $ 21.2 million for fiscal 2011 compared to fiscal 2010. in fiscal 2011 , the company repaid approximately $ 61.3 million of debt . interest expense increased due to a full year of interest being recognized on the may 2010 private placement , compared to a partial year of interest in 2010. the increase was partially offset by the lower principal balance under the previously outstanding debt agreements . other income and expense increased $ 2.8 million in fiscal 2011 to $ 4.0 million from $ 1.2 million in the prior year . the increase was primarily due to the interest income earned on the company 's money market and depository accounts , in addition to the gains on securities held in executive deferred compensation plans . the company 's effective tax rate was 24.6 % in fiscal 2011 , which was relatively consistent with the effective tax rate of 25.1 % in fiscal 2010. the company anticipates that its fiscal 2012 effective tax rate will be consistent with prior periods . net income for the fiscal year ended july 31 , 2011 , increased 32.6 % to $ 108.7 million , compared to $ 82.0 million for the fiscal year ended july 31 , 2010 , as a result of the factors noted above . net income as a percentage of sales increased to 8.1 % from 6.5 % for the fiscal year ended july 31 , 2011 compared to the prior year . diluted net income per share increased 31.6 % to $ 2.04 per share for fiscal 2011 compared to $ 1.55 per share for the fiscal year ended july 31 , 2010. fiscal 2011 and 2010 net income before restructuring related expenses was $ 115.2 million , or $ 2.16 per diluted share of class a common stock , and $ 93.4 million , or $ 1.76 per diluted share of class a common stock , respectively . year ended july 31 , 2010 , compared to year ended july 31 , 2009 the comparability of the operating results for the fiscal years ended july 31 , 2010 to july 31 , 2009 , has been impacted by the following acquisitions completed in fiscal 2010. acquisitions : segment date completed welconstruct group limited ( welco ) europe october 2009 stickolor industria e comerciao de auto adesivos ltd ( stickolor ) americas december 2009 securimed sas ( securimed ) europe march 2010 fiscal 2010 sales increased $ 50.4 million , or 4.2 % from fiscal 2009. the 4.2 % increase consisted of 0.2 % growth in organic sales , 1.3 % growth due to acquisitions , and 2.7 % growth resulting from the effects of foreign currency translation . organic sales , defined as sales in the company 's existing core businesses and regions ( exclusive of acquisitions owned less than one year and foreign currency translation effects ) , were up 0.2 % compared to fiscal 2009. the annual organic sales growth of 0.2 % varied significantly by quarter . in the first quarter of the year the company experienced a 15.9 % decline in organic sales as the prior year quarter had not yet been impacted by the economic recession . subsequent to the first quarter the company experienced sequential growth over the prior period each quarter . the acquisitions listed above increased sales by $ 16.2 million or 1.3 % in fiscal 2010. the currency growth reflects fluctuations in the exchange rates used to translate financial results into the united states dollar which increased sales by $ 32.3 million or 2.7 % for the year . story_separator_special_tag a quarterly dividend of $ 0.185 will be paid on october 31 , 2011 , to shareholders of record at the close of business on october 10 , 2011. this dividend represents an increase of 2.8 % and is the 26th consecutive annual increase in dividends . on september 9 , 2011 , the company 's board of directors authorized a share buyback program for up to an additional 2 million shares of the company 's class a common stock . the share repurchase plan may be implemented from time to time on the open market or in privately negotiated transactions , with repurchased shares available for use in connection with the company 's stock-based compensation plans and for other corporate purposes . 26 off-balance sheet arrangements the company does not have material off-balance sheet arrangements or related party transactions . the company is not aware of factors that are reasonably likely to adversely affect liquidity trends , other than the risks discussed in this filing and presented in other company filings . however , the following additional information is provided to assist financial statement users . operating leases  these leases generally are entered into for investments in facilities such as manufacturing facilities , warehouses and office space , computer equipment and company vehicles . purchase commitments  the company has purchase commitments for materials , supplies , services , and property , plant and equipment as part of the ordinary conduct of its business . in the aggregate , such commitments are not in excess of current market prices and are not material to the financial position of the company . due to the proprietary nature of many of the company 's materials and processes , certain supply contracts contain penalty provisions for early termination . the company does not believe a material amount of penalties will be incurred under these contracts based upon historical experience and current expectations . other contractual obligations  the company does not have material financial guarantees or other contractual commitments that are reasonably likely to adversely affect liquidity other than those discussed below under payments due under contractual obligations. related party transactions  the company evaluated its affiliated party transactions for the period ended july 31 , 2011. based on the evaluation the company does not have material related party transactions that affect the results of operations , cash flow or financial condition . payments due under contractual obligations the company 's future commitments at july 31 , 2011 , for long-term debt , operating lease obligations , purchase obligations , interest obligations and other obligations are as follows ( dollars in thousands ) : replace_table_token_6_th replace_table_token_7_th inflation and changing prices essentially all of the company 's revenue is derived from the sale of its products in competitive markets . because prices are influenced by market conditions , it is not always possible to fully recover cost increases through pricing . changes in product mix from year to year , timing differences in instituting price changes , and the large amount of part numbers make it impracticable to accurately define the impact of inflation on profit margins . 27 critical accounting estimates management 's discussion and analysis of the company 's financial condition and results of operations are based upon the company 's consolidated financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states . the preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosure of contingent assets and liabilities . the company bases these estimates and judgments on historical experience and on various other assumptions that are believed to be reasonable under the circumstances . actual results may differ from these estimates and judgments . the company believes the following accounting estimates are most critical to an understanding of its financial statements . estimates are considered to be critical if they meet both of the following criteria : ( 1 ) the estimate requires assumptions about material matters that are uncertain at the time the accounting estimates are made , and ( 2 ) material changes in the estimates are reasonably likely from period to period . for a detailed discussion on the application of these and other accounting estimates , refer to note 1 to the company 's consolidated financial statements . income taxes the company 's effective tax rate is based on pre-tax income and the tax rates applicable to that income in the various jurisdictions in which the company operates . significant judgment is required in determining the company 's effective income tax rate and in evaluating its tax positions . the company establishes liabilities when it is more likely than not that the company will not realize the full tax benefit of the position . the company adjusts these liabilities in light of changing facts and circumstances . tax regulations may require items of income and expense to be included in a tax return in different periods than the items are reflected in the consolidated financial statements . as a result , the effective income tax rate reflected in the consolidated financial statements may be different than the tax rate reported in the income tax return . some of these differences are permanent , such as expenses that are not deductible on the income tax return , and some are temporary differences , such as depreciation expense . temporary differences create deferred tax assets and liabilities . deferred tax assets generally represent items that can be used as tax deductions or credits in the tax return in future years for which the company has already recorded the tax benefit in the consolidated financial statements . the company establishes valuation allowances against its deferred tax assets when it is more likely than not that the amount of expected future taxable income will not support the use of the deduction or

liquidity and capital resources cash and cash equivalents were $ 390.0 million at july 31 , 2011 , compared to $ 314.8 million at july 31 , 2010. the increase in cash and cash equivalents of $ 75.2 million was the result of cash provided by operations of $ 167.4 million , and the $ 22.0 million positive effects of foreign currency translation , offset by cash used for acquisitions , capital expenditures , dividends and debt repayments during fiscal 2011. the company 's working capital excluding cash as a percentage of sales remained flat at 5 % in fiscal 2011 and 2010. accounts receivable balances increased $ 6.9 million from july 31 , 2010 to july 31 , 2011. the increase in accounts receivable was due primarily to the impact of foreign currency translation as well as the increase in sales volumes . inventories increased $ 9.5 million from july 31 , 2010 to july 31 , 2011 due to increased business activity and the impact of foreign currency translation , partially offset by focused inventory reduction initiatives . current liabilities increased $ 8.1 million over the same period mainly due to the company 's forward foreign exchange currency contracts designated as net investment hedges . cash flow from operating activities totaled $ 167.4 million and $ 165.2 million in fiscal 2011 and 2010 , respectively . the increase was primarily due to the $ 26.7 million increase in net income partially offset by the change in working capital components outlined above . the increase was also due to the payment of the company 's fiscal 2010 annual incentive compensation during fiscal 2011 , whereas no incentive compensation was paid in fiscal 2010 due to the elimination of the annual incentive compensation in fiscal 2009. cash used for investing activities totaled $ 22.6 million and $ 48.7 million in fiscal 2011 and 2010 , respectively . cash used for acquisitions totaled $ 8.0 million during fiscal 2011 for the acquisition of id warehouse .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources cash and cash equivalents were $ 390.0 million at july 31 , 2011 , compared to $ 314.8 million at july 31 , 2010. the increase in cash and cash equivalents of $ 75.2 million was the result of cash provided by operations of $ 167.4 million , and the $ 22.0 million positive effects of foreign currency translation , offset by cash used for acquisitions , capital expenditures , dividends and debt repayments during fiscal 2011. the company 's working capital excluding cash as a percentage of sales remained flat at 5 % in fiscal 2011 and 2010. accounts receivable balances increased $ 6.9 million from july 31 , 2010 to july 31 , 2011. the increase in accounts receivable was due primarily to the impact of foreign currency translation as well as the increase in sales volumes . inventories increased $ 9.5 million from july 31 , 2010 to july 31 , 2011 due to increased business activity and the impact of foreign currency translation , partially offset by focused inventory reduction initiatives . current liabilities increased $ 8.1 million over the same period mainly due to the company 's forward foreign exchange currency contracts designated as net investment hedges . cash flow from operating activities totaled $ 167.4 million and $ 165.2 million in fiscal 2011 and 2010 , respectively . the increase was primarily due to the $ 26.7 million increase in net income partially offset by the change in working capital components outlined above . the increase was also due to the payment of the company 's fiscal 2010 annual incentive compensation during fiscal 2011 , whereas no incentive compensation was paid in fiscal 2010 due to the elimination of the annual incentive compensation in fiscal 2009. cash used for investing activities totaled $ 22.6 million and $ 48.7 million in fiscal 2011 and 2010 , respectively . cash used for acquisitions totaled $ 8.0 million during fiscal 2011 for the acquisition of id warehouse .
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 Suspicious Activity Report : the company continues to focus on gross margin improvements through the brady business performance system , lean , and strategic sourcing efforts . research and development expenses increased to $ 43.0 million in fiscal 2011 from $ 42.6 million in fiscal 2010 , and declined as a percentage of sales in fiscal 2011 to 3.2 % compared to 3.4 % in fiscal 2010. the increase in r & d spending was due to the company 's continued commitment to innovation and new product development . this investment declined as percentage of sales slightly in fiscal 2011 as a result of the elimination of the r & d expenses incurred by the company 's previously owned teklynx business . 19 selling , general , and administrative ( sg & a ) expenses increased to $ 441.8 million in fiscal 2011 as compared to $ 435.9 million in fiscal 2010. sg & a expenses increased during the fiscal year mainly due to the fluctuations in exchange rates . the company divested of its teklynx business resulting in a pre-tax gain of $ 4.4 million , which is included in sg & a . this pre-tax gain was offset by the associated transaction-related costs and income tax expense , resulting in a net income impact of $ 0.8 million during fiscal 2011. sg & a also increased in fiscal 2011 as a result of the annual merit increases , and increased advertising campaign expenses . as a percentage of sales , sg & a declined to 33.0 % in fiscal 2011 from 34.6 % in fiscal 2010 as the company continues to reduce administrative costs through its cost reduction activities including simplifying , standardizing , and automating processes . restructuring charges were $ 9.2 million and $ 15.3 million during fiscal 2011 and 2010 , respectively . during fiscal 2010 and 2011 , the company incurred restructuring related costs as a result of facility consolidations and continued workforce reduction activities . the costs associated with the workforce reduction primarily include employee separation costs , consisting of severance pay , outplacement services , medical , and other related benefits for the company 's work force . interest expense increased to $ 22.1 million from $ 21.2 million for fiscal 2011 compared to fiscal 2010. in fiscal 2011 , the company repaid approximately $ 61.3 million of debt . interest expense increased due to a full year of interest being recognized on the may 2010 private placement , compared to a partial year of interest in 2010. the increase was partially offset by the lower principal balance under the previously outstanding debt agreements . other income and expense increased $ 2.8 million in fiscal 2011 to $ 4.0 million from $ 1.2 million in the prior year . the increase was primarily due to the interest income earned on the company 's money market and depository accounts , in addition to the gains on securities held in executive deferred compensation plans . the company 's effective tax rate was 24.6 % in fiscal 2011 , which was relatively consistent with the effective tax rate of 25.1 % in fiscal 2010. the company anticipates that its fiscal 2012 effective tax rate will be consistent with prior periods . net income for the fiscal year ended july 31 , 2011 , increased 32.6 % to $ 108.7 million , compared to $ 82.0 million for the fiscal year ended july 31 , 2010 , as a result of the factors noted above . net income as a percentage of sales increased to 8.1 % from 6.5 % for the fiscal year ended july 31 , 2011 compared to the prior year . diluted net income per share increased 31.6 % to $ 2.04 per share for fiscal 2011 compared to $ 1.55 per share for the fiscal year ended july 31 , 2010. fiscal 2011 and 2010 net income before restructuring related expenses was $ 115.2 million , or $ 2.16 per diluted share of class a common stock , and $ 93.4 million , or $ 1.76 per diluted share of class a common stock , respectively . year ended july 31 , 2010 , compared to year ended july 31 , 2009 the comparability of the operating results for the fiscal years ended july 31 , 2010 to july 31 , 2009 , has been impacted by the following acquisitions completed in fiscal 2010. acquisitions : segment date completed welconstruct group limited ( welco ) europe october 2009 stickolor industria e comerciao de auto adesivos ltd ( stickolor ) americas december 2009 securimed sas ( securimed ) europe march 2010 fiscal 2010 sales increased $ 50.4 million , or 4.2 % from fiscal 2009. the 4.2 % increase consisted of 0.2 % growth in organic sales , 1.3 % growth due to acquisitions , and 2.7 % growth resulting from the effects of foreign currency translation . organic sales , defined as sales in the company 's existing core businesses and regions ( exclusive of acquisitions owned less than one year and foreign currency translation effects ) , were up 0.2 % compared to fiscal 2009. the annual organic sales growth of 0.2 % varied significantly by quarter . in the first quarter of the year the company experienced a 15.9 % decline in organic sales as the prior year quarter had not yet been impacted by the economic recession . subsequent to the first quarter the company experienced sequential growth over the prior period each quarter . the acquisitions listed above increased sales by $ 16.2 million or 1.3 % in fiscal 2010. the currency growth reflects fluctuations in the exchange rates used to translate financial results into the united states dollar which increased sales by $ 32.3 million or 2.7 % for the year . story_separator_special_tag a quarterly dividend of $ 0.185 will be paid on october 31 , 2011 , to shareholders of record at the close of business on october 10 , 2011. this dividend represents an increase of 2.8 % and is the 26th consecutive annual increase in dividends . on september 9 , 2011 , the company 's board of directors authorized a share buyback program for up to an additional 2 million shares of the company 's class a common stock . the share repurchase plan may be implemented from time to time on the open market or in privately negotiated transactions , with repurchased shares available for use in connection with the company 's stock-based compensation plans and for other corporate purposes . 26 off-balance sheet arrangements the company does not have material off-balance sheet arrangements or related party transactions . the company is not aware of factors that are reasonably likely to adversely affect liquidity trends , other than the risks discussed in this filing and presented in other company filings . however , the following additional information is provided to assist financial statement users . operating leases  these leases generally are entered into for investments in facilities such as manufacturing facilities , warehouses and office space , computer equipment and company vehicles . purchase commitments  the company has purchase commitments for materials , supplies , services , and property , plant and equipment as part of the ordinary conduct of its business . in the aggregate , such commitments are not in excess of current market prices and are not material to the financial position of the company . due to the proprietary nature of many of the company 's materials and processes , certain supply contracts contain penalty provisions for early termination . the company does not believe a material amount of penalties will be incurred under these contracts based upon historical experience and current expectations . other contractual obligations  the company does not have material financial guarantees or other contractual commitments that are reasonably likely to adversely affect liquidity other than those discussed below under payments due under contractual obligations. related party transactions  the company evaluated its affiliated party transactions for the period ended july 31 , 2011. based on the evaluation the company does not have material related party transactions that affect the results of operations , cash flow or financial condition . payments due under contractual obligations the company 's future commitments at july 31 , 2011 , for long-term debt , operating lease obligations , purchase obligations , interest obligations and other obligations are as follows ( dollars in thousands ) : replace_table_token_6_th replace_table_token_7_th inflation and changing prices essentially all of the company 's revenue is derived from the sale of its products in competitive markets . because prices are influenced by market conditions , it is not always possible to fully recover cost increases through pricing . changes in product mix from year to year , timing differences in instituting price changes , and the large amount of part numbers make it impracticable to accurately define the impact of inflation on profit margins . 27 critical accounting estimates management 's discussion and analysis of the company 's financial condition and results of operations are based upon the company 's consolidated financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states . the preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosure of contingent assets and liabilities . the company bases these estimates and judgments on historical experience and on various other assumptions that are believed to be reasonable under the circumstances . actual results may differ from these estimates and judgments . the company believes the following accounting estimates are most critical to an understanding of its financial statements . estimates are considered to be critical if they meet both of the following criteria : ( 1 ) the estimate requires assumptions about material matters that are uncertain at the time the accounting estimates are made , and ( 2 ) material changes in the estimates are reasonably likely from period to period . for a detailed discussion on the application of these and other accounting estimates , refer to note 1 to the company 's consolidated financial statements . income taxes the company 's effective tax rate is based on pre-tax income and the tax rates applicable to that income in the various jurisdictions in which the company operates . significant judgment is required in determining the company 's effective income tax rate and in evaluating its tax positions . the company establishes liabilities when it is more likely than not that the company will not realize the full tax benefit of the position . the company adjusts these liabilities in light of changing facts and circumstances . tax regulations may require items of income and expense to be included in a tax return in different periods than the items are reflected in the consolidated financial statements . as a result , the effective income tax rate reflected in the consolidated financial statements may be different than the tax rate reported in the income tax return . some of these differences are permanent , such as expenses that are not deductible on the income tax return , and some are temporary differences , such as depreciation expense . temporary differences create deferred tax assets and liabilities . deferred tax assets generally represent items that can be used as tax deductions or credits in the tax return in future years for which the company has already recorded the tax benefit in the consolidated financial statements . the company establishes valuation allowances against its deferred tax assets when it is more likely than not that the amount of expected future taxable income will not support the use of the deduction or

