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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2021
Net sales $ 1,331,863 $ 1,302,062 $ 1,144,698
Cost of goods sold 674,588 670,510 583,252
Gross margin 657,275 631,552 561,446
Operating expenses:      
Research and development 61,365 58,548 44,551
Selling, general and administrative 370,697 379,992 349,768
Total operating expenses 432,062 438,540 394,319
Operating income 225,213 193,012 167,127
Other income (expense):      
Investment and other income 4,022 244 4,333
Interest expense (3,539) (1,276) (437)
Income before income taxes and losses of unconsolidated affiliate 225,696 191,980 171,023
Income tax expense 50,839 42,001 35,610
Income before losses of unconsolidated affiliate 174,857 149,979 135,413
Equity in losses of unconsolidated affiliate 0 0 (5,754)
Net income $ 174,857 $ 149,979 $ 129,659
Weighted average common shares outstanding:      
Basic 49,591 51,321 52,039
Diluted 49,869 51,651 52,409
Class A Nonvoting Common Stock      
Earnings per share:      
Basic $ 3.53 $ 2.92 $ 2.49
Diluted 3.51 2.90 2.47
Class B Voting Common Stock      
Earnings per share:      
Basic 3.51 2.91 2.48
Diluted $ 3.49 $ 2.89 $ 2.46