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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Jul. 31, 2015
Net sales      
Product sales $ 684,678 $ 584,750 $ 493,656
Product service 85,479 80,005 71,348
Total net sales 770,157 664,755 565,004
Cost of sales      
Product sales 343,641 300,704 260,903
Product service 59,356 54,865 50,634
Total cost of sales 402,997 355,569 311,537
Gross profit 367,160 309,186 253,467
Expenses:      
Selling 116,113 99,062 80,787
General and administrative 122,270 97,463 77,897
Research and development 18,367 15,410 14,022
Total operating expenses 256,750 211,935 172,706
Income from operations 110,410 97,251 80,761
Interest expense, net 4,303 3,320 2,364
Other income (126) 0 0
Loss on sale of business 0 0 2,206
Income before income taxes 106,233 93,931 76,191
Income taxes 34,855 33,978 28,238
Net income $ 71,378 $ 59,953 $ 47,953
Earnings per common share:      
Basic (in dollars per share) $ 1.71 $ 1.44 $ 1.16
Diluted (in dollars per share) 1.71 1.44 1.15
Dividends per common share (in dollars per share) $ 0.14 $ 0.12 $ 0.10