Property and Equipment

12 Months Ended

Jul. 31, 2012

Note 5.

Property and Equipment

Property and equipment as of July 31, 2012 and 2011 were as follows (dollars in thousands):

	2012		2011
Land	$	730	$	730
Building and improvements		5,896		5,965
Machinery and equipment		7,974		6,992
Furniture and fixtures		1,222		730
Software		1,014		363
Construction in progress		287		670
		17,123		15,450
Less accumulated depreciation		7,884		6,889
	$	9,239	$	8,561

Depreciation expense is included in both cost of sales, selling and general and administrative expenses. There are no long-lived assets outside of the United States. Depreciation expense for the years ended July 31, 2012, 2011 and 2010 was $1,093,000, $972,000 and $986,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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