Nature of Business and Significant Accounting Policies (Tables)

12 Months Ended

Jul. 31, 2015

Nature of Business and Significant Accounting Policies [Abstract]

Estimated useful lives of property and equipment

Property and equipment are depreciated using the straight-line method over their estimated useful lives as follows:

	Useful lives (in years)
Building and improvements		7-39
Machinery and equipment		5-7
Furniture and fixtures		5-7
Software		3-10

Deferred revenue

The Company recognized $1.3 million of this deferred revenue in each of the fiscal years ended July 31, 2015, 2014 and 2013, respectively.

	July 31, 2015		July 31, 2014
Deferred revenue – Alcon settlement	$	13,242	$	14,530
Less:  Short-term		1,288		1,288
Long-term portion	$	11,954	$	13,242

Weighted average shares used to calculate earnings per share

Basic earnings per share data has been computed on the basis of the weighted average number of common shares outstanding during each period presented.  Diluted earnings per share data has been computed on the basis of the assumed conversion, exercise or issuance of all potential common stock instruments, unless the effect is to reduce the loss or increase the net income per common share (dollars in thousands, except share and per share data):

	Year Ended July 31,
	2015		2014		2013
Basic weighted average common shares		25,362,166		25,323,622		25,243,010
Stock options		86,861		69,642		94,515
Dilutive weighted average common shares		25,449,027		25,393,264		25,337,525