Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jul. 31, 2014
Jul. 31, 2013
ASSETS    
Cash and cash equivalents $ 17,455 $ 9,007
Accounts receivable, net of allowance for doubtful accounts of $2,142 in 2014 and $2,707 in 2013 12,470 12,288
Inventories 8,690 8,805
Prepaid expenses 2,121 2,456
Total current assets 40,736 32,556
Property, plant, and equipment, net 7,730 8,617
Goodwill 7,452 7,452
Intangible assets, net 8,108 9,943
Other 385 390
Total assets 64,411 58,958
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Loan payable 3,013 3,264
Accounts payable - trade 8,245 8,481
Accrued liabilities 12,917 11,776
Other current liabilities 790 331
Total current liabilities 24,965 23,852
Deferred taxes 183 200
Other liabilities 2,313 774
Total liabilities 27,461 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: 44,239,183 at July 31, 2014 and 40,569,393 at July 31, 2013 443 406
Additional paid-in capital 317,160 304,288
Accumulated deficit (282,397) (272,420)
Accumulated other comprehensive income 1,744 1,858
Total stockholders’ equity 36,950 34,132
Total liabilities and stockholders’ equity $ 64,411 $ 58,958