Quarterly Results of Operations (unaudited)

12 Months Ended

Jul. 31, 2015

Quarterly Results of Operations (unaudited)

Quarterly Results of Operations (unaudited)

21.Quarterly Results of Operations (unaudited)

The following is a summary of the quarterly results of operations for the years ended July 31, 2015 and 2014:

	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter
2015
Net sales	$	136,811,000		$	135,430,000		$	141,508,000		$	151,255,000
Cost of sales	76,297,000			74,839,000			77,909,000			82,492,000
Gross profit	60,514,000			60,591,000			63,599,000			68,763,000
Gross profit percentage	44.2		%	44.7		%	44.9		%	45.5		%
Net income	$	11,239,000		$	11,085,000		$	12,356,000		$	13,273,000
Earnings per common share:
Basic	$	0.27		$	0.27		$	0.30		$	0.32
Diluted (1)	$	0.27		$	0.27		$	0.30		$	0.32
	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter
2014
Net sales	$	118,272,000		$	119,042,000		$	120,058,000		$	131,377,000
Cost of sales	66,773,000			66,707,000			67,640,000			74,330,000
Gross profit	51,499,000			52,335,000			52,418,000			57,047,000
Gross profit percentage	43.5		%	44.0		%	43.7		%	43.4		%
Net income	$	11,185,000		$	11,126,000		$	10,249,000		$	10,705,000
Earnings per common share:
Basic	$	0.27		$	0.27		$	0.25		$	0.26
Diluted (1)	$	0.27		$	0.27		$	0.25		$	0.26

(1)The summation of quarterly earnings per share does not equal the fiscal year earnings per share due to rounding.