Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.21.2
Income Taxes (Tables)
12 Months Ended
Jul. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of benefit for income taxes
    2021     2020     2019  
                   
Federal   $
    $
    $
 
State and local    
     
     
 
Foreign    
     
     
 
Deferred benefit    
     
     
 
Benefit for income taxes   $
    $
    $
 

 

Schedule of deferred tax assets and liabilities
    2021     2020  
Deferred tax assets:            
Federal tax carryforward losses   $ 18,140     $ 18,173  
Provision for uncollectible accounts receivable     970       1,079  
State and local tax carry forward losses     1,658       1,187  
Accrued royalties           101  
Stock compensation     1,088       898  
Depreciation     850       799  
Research and development and other tax credit carryforwards     1,527       1,477  
Lease liabilities     5,194       5,520  
Foreign tax carryforward losses     2,536       3,357  
Intangibles and goodwill     858       1,162  
Inventory     1,637       1,156  
Accrued expenses     1,341       1,176  
Other, net     17       37  
Deferred tax assets     35,816       36,122  
                 
Right of use assets     (4,917 )     (5,288  
Prepaid expenses     (946 )     (705 )
Other, net     (79 )     (52 )
Deferred tax liabilities     (5,942 )     (6,045 )
                 
Net deferred tax assets before valuation allowance     29,874       30,077  
Less: valuation allowance     (29,874 )     (30,077 )
Net deferred tax liabilities   $
    $
 

 

Schedule of income (loss) before income taxes
    2021     2020     2019  
United States operations   $ 8,832     $ (27,690 )   $ 4,618  
International operations     (957 )     (830 )     (2,129 )
Income (loss) before taxes   $ 7,875     $ (28,520 )   $ 2,489  

 

(provision) or benefit for income taxes
    2021     2020     2019  
Federal statutory rate     (21.0 )%     21.0 %     (21.0 )%
Compensation and other expenses not deductible for income tax return purposes     (3.4 )     (1.1 )     (15.3 )
PPP loan forgiveness income not taxable for income tax return purposes     18.7      
     
 
Change in valuation allowance, net     5.7       (19.9 )     33.6  
Other    
     
      2.7  
     
%    
%    
%