Property, Buildings and Equipment, net

12 Months Ended

Jul. 31, 2016

Property, Buildings and Equipment, net [Abstract]

8.	Property, Buildings and Equipment, net

Property, buildings and equipment is summarized in the following table.

	Balance at July 31,
	2016			2015
	(in thousands)

Land and land improvements	$	393		$	393
Buildings and building improvements		9,700			10,368
Field equipment		2,222			2,786
Computer equipment		4,439			4,685
Computer software		3,105			6,112
Office furniture and equipment		2,683			4,076
Vehicles		1,333			1,439
Other		543			693
		24,418			30,552
Accumulated depreciation and amortization		(18,324	)		(23,438	)
Property, buildings and equipment, net	$	6,094		$	7,114

During the three months ended April 30, 2016, the Company’s Board of Directors directed management to sell vacant buildings owned by the Company. The buildings had a recorded net book value of $1.9 million at April 30, 2016. Management assessed the recoverability of the net book value of the buildings based on its plan to sell the buildings, expected future use of the buildings, and the buildings’ appraised market value. Based upon this assessment, management determined that the net book value of the buildings was impaired as of April 30, 2016. As a result, during the three months ended April 30, 2016, the Company recorded an impairment loss of approximately $0.4 million as a reduction of property, buildings and equipment, net in the consolidated balance sheet and as additional administrative and indirect operating expenses in the consolidated statement of operations.

Also during the three months ended April 30, 2016, the Company received net insurance proceeds of approximately $0.4 million related to storm damage to two of its buildings. These proceeds were recorded as a gain on insurance settlement in the consolidated statement of operations.