Acquisitions (Tables)

6 Months Ended

Jan. 31, 2015

Acquisitions [Abstract]

Net assets and liabilities acquired

Pending the final valuations, the preliminarily recognized amounts of identifiable assets acquired and liabilities assumed as of December 10, 2014 are set forth below:

Accounts receivable	$	706
Inventory		1,617
Other current assets		128
Long-lived assets		1,946
Intangible Assets		8,467
Goodwill		5,000
Total assets		17,864
Deferred tax liabilities		1,226
Current liabilities assumed		810
Contingent acquisition liability		2,651
Total liabilities		4,687
Net assets acquired	$	13,177

Pro forma financial information

In addition, this unaudited pro forma financial information is provided for illustrative purposes only and should not be relied upon as necessarily being indicative of the historical results that would have been obtained if this acquisition had actually occurred during these periods, or the results that may have been obtained in the future as a result of this acquisition (in thousands).

	Three Months Ended January 31,					Six Months Ended January 31,
Pro Forma (unaudited)	2015		2014			2015		2014
Net Sales	$	18,875	$	16,787		$	37,427	$	33,924
Net Income (Loss)	$	1,110	$	(166	)		2,028	$	791
Average shares outstanding – basic		25,364,574		25,309,641			25,352,279		25,301,830
Average shares outstanding – diluted		25,424,835		25,309,641			25,407,508		25,386,679
Basic earnings per share	$	0.04	$	(0.01	)	$	0.08	$	0.03
Diluted earnings per share	$	0.04	$	(0.01	)	$	0.08	$	0.03