Acquisitions (Tables)
 6 Months Ended
Jan. 31, 2015
Acquisitions [Abstract]  
Net assets and liabilities acquired
Pending the final valuations, the preliminarily recognized amounts of identifiable assets acquired and liabilities assumed as of December 10, 2014 are set forth below:

Accounts receivable
 
$
706
 
Inventory
  
1,617
 
Other current assets
  
128
 
Long-lived assets
  
1,946
 
Intangible Assets
  
8,467
 
Goodwill
  
5,000
 
Total assets
  
17,864
 
     
Deferred tax liabilities
  
1,226
 
Current liabilities assumed
  
810
 
Contingent acquisition liability
  
2,651
 
Total liabilities
  
4,687
 
Net assets acquired
 
$
13,177
 
Pro forma financial information
In addition, this unaudited pro forma financial information is provided for illustrative purposes only and should not be relied upon as necessarily being indicative of the historical results that would have been obtained if this acquisition had actually occurred during these periods, or the results that may have been obtained in the future as a result of this acquisition (in thousands).

  
Three Months Ended January 31,
  
Six Months Ended January 31,
 
Pro Forma (unaudited)
 
2015
  
2014
  
2015
  
2014
 
Net Sales
 
$
18,875
  
$
16,787
  
$
37,427
  
$
33,924
 
Net Income (Loss)
 
$
1,110
  
$ 
(166
)
  
2,028
  
$
791
 
Average shares outstanding – basic
  
25,364,574
   
25,309,641
   
25,352,279
   
25,301,830
 
Average shares outstanding – diluted
  
25,424,835
   
25,309,641
   
25,407,508
   
25,386,679
 
Basic earnings per share
 
$
0.04
  
$ 
(0.01
)
 
$
0.08
  
$
0.03
 
Diluted earnings per share
 
$
0.04
  
$ 
(0.01
)
 
$
0.08
  
$
0.03