Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Cash flows from operating activities:    
Net loss $ (12,126) $ (8,937)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization of property, plant and equipment 2,155 2,133
Amortization of intangible assets 1,131 1,138
Provision for uncollectible accounts receivable 3,648 3,037
Income tax benefit (89) (126)
Share based compensation charges 595 870
Share based 401(k) employer match expense 453 500
Deferred revenue recognized   (38)
Foreign currency transaction loss (gain) 148 (183)
Changes in operating assets and liabilities:    
Accounts receivable (2,398) (3,697)
Inventories (260) (660)
Prepaid expenses 379 215
Accounts payable – trade (713) 736
Accrued liabilities 609 (178)
Other current liabilities (14) 23
Other liabilities 86 1
Total adjustments 5,730 3,771
Net cash used in operating activities (6,396) (5,166)
Cash flows from investing activities:    
Purchases of short term investments (30,000) (136,837)
Maturities of short term investments 30,000 143,836
Capital expenditures (979) (1,021)
Security deposits and other (52) (105)
Earn-out payment (1,150)  
Net cash (used in) provided by investing activities (2,181) 5,873
Cash flows from financing activities:    
Installment loan payments (105)  
Net cash used in financing activities (105)  
Effect of exchange rate changes on cash and cash equivalents (232) 243
(Decrease) increase in cash and cash equivalents (8,914) 950
Cash and cash equivalents - beginning of period 14,161 8,759
Cash and cash equivalents - end of period $ 5,247 $ 9,709