Fair Value Measurements (Tables)

12 Months Ended

Jul. 31, 2015

Fair Value Measurements

Schedule of fair values of financial instruments measured on a recurring basis

	July 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money markets	$	1,680,000	$	—	$	—	$	1,680,000
Total assets	$	1,680,000	$	—	$	—	$	1,680,000
Liabilities:
Accrued expenses:
Assumed contingent obligation	$	—	$	—	$	12,000	$	12,000
Contingent guaranteed obligation	—		—		566,000		566,000
Total accrued expenses	—		—		578,000		578,000
Contingent consideration	—		—		751,000		751,000
Other long-term liabilities:
Assumed contingent obligation	—		—		1,126,000		1,126,000
Contingent guaranteed obligation	—		—		322,000		322,000
Total other long-term liabilities:	—		—		1,448,000		1,448,000
Total liabilities	$	—	$	—	$	2,777,000	$	2,777,000

	July 31, 2014
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money markets	$	1,702,000	$	—	$	—	$	1,702,000
Total assets	$	1,702,000	$	—	$	—	$	1,702,000
Liabilities:
Accrued expenses:
Interest rate swap agreement	$	—	$	69,000	$	—	$	69,000
Contingent guaranteed obligation	—		—		684,000		684,000
Total accrued expenses	—		69,000		684,000		753,000
Contingent consideration	—		—		2,722,000		2,722,000
Other long-term liabilities:
Assumed contingent obligation	—		—		1,752,000		1,752,000
Contingent guaranteed obligation	—		—		711,000		711,000
Total other long-term liabilities:	—		—		2,463,000		2,463,000
Total liabilities	$	—	$	69,000	$	5,869,000	$	5,938,000

Reconciliation of liabilities measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3)

										Jet Prep			PuriCore
	Byrne			Byrne			Jet Prep			Assumed			Contingent
	Contingent			Price			Contingent			Contingent			Guaranteed
	Consideration			Floor			Consideration			Obligation			Obligation			Total
Balance, July 31, 2012	$	1,500,000		$	1,037,000		$	—		$	—		$	—		$	2,537,000
Total net unrealized gains included in general and administrative expense in earnings	(1,500,000		)	(992,000		)	—			—			—			(2,492,000		)
Net purchases, issuances, sales and settlements	—			—			—			—			—			—
Balance, July 31, 2013	—			45,000			—			—			—			45,000
Total net unrealized (gains) losses included in general and administrative expense in earnings	—			(45,000		)	232,000			32,000			—			219,000
Net purchases, issuances, sales and settlements	—			—			2,490,000			1,720,000			1,395,000			5,605,000
Balance, July 31, 2014	—			—			2,722,000			1,752,000			1,395,000			5,869,000
Total net unrealized gains included in general and administrative expense in earnings	—			—			(1,971,000		)	(614,000		)	—			(2,585,000		)
Net purchases, issuances, sales and settlements	—			—			—			—			(507,000		)	(507,000		)
Balance, July 31, 2015	$	—		$	—		$	751,000		$	1,138,000		$	888,000		$	2,777,000