| Schedule of the income statement components of stock-based compensation expense recognized in the Condensed Consolidated Statements of Income |
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Three Months Ended
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October 31,
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2016
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2015
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Cost of sales
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$
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110,000
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$
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79,000
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Operating expenses:
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Selling
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629,000
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190,000
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General and administrative
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2,153,000
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1,425,000
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Research and development
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30,000
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26,000
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Total operating expenses
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2,812,000
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1,641,000
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Stock-based compensation before income taxes
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2,922,000
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1,720,000
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Income tax benefits
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(1,039,000)
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(613,000)
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Excess tax benefits
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(2,241,000)
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—
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Total stock-based compensation expense, net of tax
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$
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(358,000)
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$
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1,107,000
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| Summary of nonvested stock award activity |
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Weighted
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Number of
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Average
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Shares
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Fair Value
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Nonvested stock awards at July 31, 2016
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331,367
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$
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46.09
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Granted
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91,841
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78.05
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Canceled
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(2,238)
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55.09
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Vested
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(188,163)
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41.61
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Nonvested stock awards at October 31, 2016
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232,807
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$
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62.23
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