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TREASURY STOCK
9 Months Ended
Apr. 30, 2011
Treasury Stock Note Disclosure [Abstract]  
TREASURY STOCK
NOTE 5 - TREASURY STOCK
 
     On November 15, 2006, the board of directors authorized an expenditure of $250,000 to repurchase shares of the Company’s common stock. On October 16, 2008, the board authorized an additional expenditure of $350,000 to repurchase shares. The Company’s shares may be purchased over time, as market and business conditions warrant. There is no time restriction on these authorizations. During the nine months ended April 30, 2011, the Company purchased 1,285 shares in open-market transactions at an aggregate cost of $64,524 with an average price per share of $50.21. As of April 30, 2011, $288,420 remains to be expended under the current board repurchase authorizations. Repurchased shares are held in treasury for use in connection with the Company’s stock plans and for general corporate purposes.
 
     During the nine months ended April 30, 2011, 2,122 shares were issued under the Company’s stock-based compensation plans and 2 shares were traded in by an employee in payment of a stock option exercise at a price of $58.75 per share and an aggregate cost of $110. At April 30, 2011, the Company held 11,655 treasury shares.