Note Payable

12 Months Ended

Jul. 31, 2016

Note Payable [Abstract]

Note Payable

Note 11—Note Payable

The Company’s note payable consisted of the following:

July 31 (in thousands)	2016		2015
$11.0 million secured term loan due September 2015	$	—	$	6,353
Less current portion		—		(6,353	)
Notes payable—long term portion	$	—	$	—

Interest on the loan was 5.6% per annum. The outstanding principal of $6.4 million was paid on the maturity date of September 1, 2015. The loan was secured by a mortgage on a building in Piscataway, New Jersey.