Operating Leases

12 Months Ended

Jul. 31, 2012

Note 9.

Operating Leases

The Company leases various equipment, a portion of its facilities in O'Fallon, Missouri and the facility in King of Prussia, Pennsylvania under operating leases. The O'Fallon, Missouri lease expires in February 2016 and the King of Prussia, Pennsylvania lease has been renewed through October 2015.

The approximate minimum rental commitment under non-cancelable operating leases as of July 31, 2012 is due as follows (dollars in thousands):

Year Ending July 31,	Amount
2013	$	355
2014		326
2015		226
2016		80
2017		--
	$	987

Rent expense incurred and charged to cost of sales and selling, general and administrative expenses was approximately $353,000, $358,000 and $268,000 for the years ended July 31, 2012, 2011 and 2010, respectively.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details