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, 2013
Jul. 31, 2012
ASSETS    
Cash and cash equivalents $ 9,007 $ 15,076
Accounts receivable, net of allowance for doubtful accounts of $2,707 in 2013 and $3,273 in 2012 12,288 14,135
Inventories 8,805 8,800
Prepaid expenses 2,456 2,357
Total current assets 32,556 40,368
Property, plant, and equipment, net 8,617 9,116
Goodwill 7,452 7,452
Intangible assets, net 9,943 11,780
Other 390 407
Total assets 58,958 69,123
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Loan payable 3,264  
Accounts payable – trade 8,481 9,020
Accrued liabilities 11,776 9,818
Other current liabilities 331 118
Total current liabilities 23,852 18,956
Deferred taxes 200 938
Other liabilities 774 128
Total liabilities 24,826 20,022
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: 40,569,393 at July 31, 2013 and 39,495,475 at July 31, 2012 406 395
Additional paid-in capital 304,288 304,358
Less treasury stock at cost: none at July 31, 2013 and 216,556 shares at July 31, 2012   (3,074)
Accumulated deficit (272,420) (254,183)
Accumulated other comprehensive income 1,858 1,605
Total stockholders’ equity 34,132 49,101
Total liabilities and stockholders’ equity $ 58,958 $ 69,123