Business Combination (Tables)

12 Months Ended

Jul. 31, 2014

The following is a summary of the purchase price for the Acquired Assets:


	(in thousands)
Cash paid for Acquired Assets	$	88,009
Seller financing—Dover promissory notes		18,000

Purchase price	$	106,009

Estimated Purchase Price Allocation Based on Fair Value of Net Assets Acquired

The purchase price has been allocated based on the fair value of net assets acquired as follows:


	(in thousands)
Allocation of purchase consideration
Fair value of assets acquired as of December 1, 2013:
Cash	$	18,024
Accounts receivable		51,069
Inventory		41,642
Property, plant and equipment		22,859
Identifiable intangible assets		12,000
Other assets		3,410

Assets acquired:	$	149,004
Fair value of liabilities acquired:
Liabilities		(32,260	)
Deferred taxes		(2,114	)

Adjusted net assets acquired	$	114,630
Purchase price		(106,009	)

Bargain purchase gain	$	8,621

Unaudited Pro-Forma Information on Consolidated Results of Operations

The following unaudited pro forma information presents the consolidated results of operations of the Company, and the Acquired Businesses, as if the Dover Acquisition had occurred on August 1, 2013 and August 1, 2012, with pro forma adjustments to give effect to amortization of intangible assets and certain other adjustments (in thousands):


	Fiscal Year Ended July 31,
	2014		2013
Net sales	$	421,546	$	419,043
Net income	$	731	$	7,880