Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jan. 31, 2014
Jul. 31, 2013
ASSETS    
Cash and cash equivalents $ 7,621 $ 9,007
Accounts receivable, net of allowances 11,855 12,288
Inventories 9,220 8,805
Prepaid expenses and other 1,945 2,456
Total current assets 30,641 32,556
Property, plant and equipment, net 8,112 8,617
Goodwill 7,452 7,452
Intangible assets, net 9,111 9,943
Other assets 418 390
Total assets 55,734 58,958
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Loan payable 2,913 3,264
Accounts payable – trade 8,818 8,481
Accrued liabilities 10,574 11,776
Other current liabilities 342 331
Total current liabilities 22,647 23,852
Deferred taxes 160 200
Other liabilities 737 774
Total liabilities 23,544 24,826
Commitments and contingencies      
Stockholders’ equity:    
Preferred Stock, $.01 par value; authorized 25,000,000 shares; no shares issued or outstanding      
Common Stock, $.01 par value; authorized 75,000,000 shares; shares issued: 42,315,616 at January 31, 2014 and 40,569,393 at July 31, 2013 424 406
Additional paid-in capital 308,772 304,288
Accumulated deficit (278,773) (272,420)
Accumulated other comprehensive income 1,767 1,858
Total stockholders’ equity 32,190 34,132
Total liabilities and stockholders’ equity $ 55,734 $ 58,958