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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Apr. 30, 2020
Apr. 30, 2019
Net sales $ 265,943 $ 289,745 $ 829,555 $ 865,367
Cost of goods sold 136,416 143,996 419,496 433,269
Gross margin 129,527 145,749 410,059 432,098
Operating expenses:        
Research and development 9,814 11,437 31,298 33,837
Selling, general and administrative 83,223 94,691 260,136 281,988
Asset Impairment Charges 13,821 0 13,821 0
Total operating expenses 106,858 106,128 305,255 315,825
Operating income 22,669 39,621 104,804 116,273
Other income (expense):        
Investment and other income 112 2,065 3,252 3,425
Interest expense (628) (708) (1,976) (2,137)
Income before income taxes 22,153 40,978 106,080 117,561
Income tax expense 8,520 6,197 21,396 22,916
Net income $ 13,633 $ 34,781 $ 84,684 $ 94,645
Weighted average common shares outstanding:        
Basic 52,607 52,766 53,023 52,499
Diluted 52,972 53,480 53,512 53,215
Class A nonvoting common stock        
Earnings Per Share        
Net earnings per share, basic $ 0.26 $ 0.66 $ 1.60 $ 1.80
Net earnings per share, diluted 0.26 0.65 1.58 1.78
Dividends 0.22 0.21 0.65 0.64
Class B voting common stock        
Earnings Per Share        
Net earnings per share, basic 0.26 0.66 1.58 1.79
Net earnings per share, diluted 0.26 0.65 1.57 1.76
Dividends $ 0.22 $ 0.21 $ 0.64 $ 0.62