Quarterly Results of Operations (unaudited)

12 Months Ended

Jul. 31, 2016

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, 2016 and 2015:

		First			Second			Third			Fourth
		Quarter			Quarter			Quarter			Quarter
2016
Net sales	$	153,779,000		$	158,271,000		$	173,703,000		$	179,002,000
Cost of sales		82,581,000			85,934,000			93,382,000			93,672,000
Gross profit		71,198,000			72,337,000			80,321,000			85,330,000
Gross profit percentage		46.3	%		45.7	%		46.2	%		47.7	%
Net income	$	14,254,000		$	15,389,000		$	14,019,000		$	16,291,000
Earnings per common share:
Basic	$	0.34		$	0.37		$	0.34		$	0.39
Diluted	$	0.34		$	0.37		$	0.34		$	0.39

		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

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