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, 2012
Jul. 31, 2011
ASSETS    
Cash and cash equivalents $ 15,076 $ 14,161
Short term investments   10,000
Accounts receivable, net of allowance for doubtful accounts of $3,273 in 2012 and $3,488 in 2011 14,135 15,245
Inventories 8,800 9,260
Prepaid expenses 2,357 2,733
Total current assets 40,368 51,399
Property, plant, and equipment, net 9,116 10,335
Goodwill 7,452 27,373
Intangible assets, net 11,780 19,985
Other 407 382
Total assets 69,123 109,474
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable – trade 9,020 7,858
Accrued liabilities 9,818 8,188
Other current liabilities 118 1,683
Total current liabilities 18,956 17,729
Deferred taxes 938 2,934
Other liabilities 128 96
Commitments and contingencies      
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: 39,495,475 at July 31, 2012 and 39,045,837 at July 31, 2011 395 390
Additional paid-in capital 304,358 305,833
Less treasury stock at cost: 216,556 shares at July 31, 2012 and 450,014 shares at July 31, 2011 (3,074) (6,387)
Accumulated deficit (254,183) (214,914)
Accumulated other comprehensive income 1,605 3,793
Total stockholders’ equity 49,101 88,715
Total liabilities and stockholders’ equity $ 69,123 $ 109,474