Income Taxes (Tables)

12 Months Ended

Jul. 31, 2013

Income Taxes

Schedule of provision for income taxes

	Year Ended July 31,
	2013					2012					2011
	Current		Deferred			Current		Deferred			Current		Deferred
United States:
Federal	$	18,122,000	$	(351,000	)	$	13,593,000	$	390,000		$	9,651,000	$	(1,538,000	)
State	3,010,000		223,000			2,144,000		78,000			1,595,000		(124,000		)
Canada	221,000		(174,000		)	324,000		(85,000		)	455,000		(143,000		)
Singapore	130,000		10,000			101,000		(13,000		)	138,000		(1,000		)
Netherlands	—		(76,000		)	—		—			—		—
Japan	—		—			—		—			4,000		—
Total	$	21,483,000	$	(368,000	)	$	16,162,000	$	370,000		$	11,843,000	$	(1,806,000	)

Schedule of geographic components of income before income taxes

	Year Ended July 31,
	2013			2012		2011
United States	$	57,973,000		$	44,120,000	$	27,772,000
Canada	(5,000		)	531,000		1,532,000
Singapore	1,038,000			713,000		796,000
Netherlands	1,344,000			152,000		143,000
Japan	4,000			2,353,000		219,000
Total	$	60,354,000		$	47,869,000	$	30,462,000

Schedule of reconciliation of differences in effective tax rate from the United States statutory tax rate

	Year Ended July 31,
	2013			2012			2011
Expected statutory tax	$	21,124,000		$	16,754,000		$	10,662,000
Differential attributable to foreign operations:
Canada	49,000			54,000			(225,000		)
Singapore	(224,000		)	(161,000		)	(142,000		)
Netherlands	(546,000		)	(53,000		)	(50,000		)
Japan	(1,000		)	(824,000		)	(73,000		)
State and local taxes	2,044,000			1,434,000			867,000
Domestic production deduction	(1,265,000		)	(1,009,000		)	(657,000		)
Taxes on foreign dividends	120,000			(72,000		)	(241,000		)
R&E tax credit	(492,000		)	(138,000		)	(346,000		)
Investment impairment	—			175,000			—
Other	306,000			372,000			242,000
Total income tax expense	$	21,115,000		$	16,532,000		$	10,037,000

Schedule of deferred income tax assets and liabilities

	July 31,
	2013			2012
Current deferred tax assets:
Accrued expenses	$	2,337,000		$	2,158,000
Inventories	1,149,000			1,323,000
Accounts receivable	676,000			429,000
Foreign NOLs	76,000			—
Subtotal	4,238,000			3,910,000
Valuation allowance	(109,000		)	(111,000		)
	$	4,129,000		$	3,799,000
Non-current deferred tax assets:
Other long-term liabilities	$	527,000		$	527,000
Stock-based compensation	2,138,000			1,811,000
Capital investment	175,000			175,000
Foreign tax credit	133,000			85,000
Domestic NOLs	83,000			111,000
Foreign NOLs	—			977,000
Subtotal	3,056,000			3,686,000
Valuation allowance	(199,000		)	(1,164,000		)
	2,857,000			2,522,000
Non-current deferred tax liabilities:
Property and equipment	(6,310,000		)	(6,496,000		)
Intangible assets	(9,840,000		)	(7,214,000		)
Goodwill	(7,893,000		)	(5,551,000		)
Cumulative translation adjustment	—			(3,130,000		)
Tax on unremitted foreign earnings	—			(25,000		)
	(24,043,000		)	(22,416,000		)
Net non-current deferred tax liabilities	$	(21,186,000	)	$	(19,894,000	)

Schedule of reconciliation of the beginning and ending amounts of gross unrecognized tax benefits

	Unrecognized
	Tax Benefits
Unrecognized tax benefits on July 31, 2011	$	191,000
Lapse of statute of limitations	(67,000		)
Unrecognized tax benefits on July 31, 2012	124,000
Activity during fiscal 2013	—
Unrecognized tax benefits on July 31, 2013	$	124,000