Annual report pursuant to Section 13 and 15(d)

Income taxes (Tables)

v3.19.3
Income taxes (Tables)
12 Months Ended
Jul. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The benefit for income taxes for fiscal years ended July 31 is as follows:

    2019     2018     2017  
                   
Federal   $     $ 1,097     $  
State and local                  
Foreign                  
Deferred benefit                  
Benefit for income taxes   $     $ 1,097     $  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] Deferred tax assets and liabilities arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The components of deferred tax assets (liabilities) as of July 31 are as follows:

      2019     2018    
  Deferred tax assets:                  
  Federal tax carryforward losses   $ 12,558     $ 13,975    
  Provision for uncollectible accounts receivable     1,116       791    
  State and local tax carry forward losses     144       352    
  Accrued royalties     101       102    
  Stock compensation     769       575    
  Depreciation     682       581    
  Research and development and other tax credit carryforwards     1,350       1,286    
  Foreign tax carryforward losses     3,783       2,771    
  Intangibles and goodwill     1,479       1,811    
  Inventory     1,086       1,786    
  Accrued expenses     1,127       1,194    
  Other, net     82       58    
  Deferred tax assets     24,277       25,282    
                     
  Prepaid expenses     (626 )     (772 )  
  Other, net     (124 )     (39 )  
  Deferred tax liabilities     (750 )     (811 )  
                     
  Net deferred tax assets before valuation allowance     23,527       24,471    
  Less: valuation allowance     (23,527 )     (24,471 )  
  Net deferred tax liabilities   $     $    
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] The components of income (loss) before income taxes consisted of the following for the years ended July 31:

    2019     2018     2017  
United States operations   $ 4,618     $ (9,540 )   $ (212 )
International operations     (2,129 )     (1,878 )     (2,292 )
Income (loss) before taxes   $ 2,489     $ (11,418 )   $ (2,504 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] The benefit for income taxes was at rates different from U.S. federal statutory rates for the following reasons for the years ended July 31:

    2019     2018     2017  
Federal statutory rate     (21.0 )%     26.4 %     34.0 %
Compensation and other expenses not deductible for
income tax return purposes
    (15.3 )     (1.0 )     (14.5 )
Change in valuation allowance     36.3       73.9       64.0  
State tax law change                 (81.1 )
Impact of Tax Act on valuation allowance           (100.1 )      
AMT refund under Tax Act           9.6        
Other           0.8       (2.4 )
      %     9.6 %     %