Income Taxes (Tables)

12 Months Ended

Jul. 31, 2016

Income Taxes [Abstract]

Schedule of components of income before income taxes

Year ended July 31  (in thousands)	2016		2015		2014
Domestic	$	11,278	$	7,538	$	21,624
Foreign		18,190		84,665		3,368
INCOME BEFORE INCOME TAXES	$	29,468	$	92,203	$	24,992

Schedule of deferred income tax assets

July 31  (in thousands)	2016			2015
Deferred income tax assets:
Bad debt reserve	$	575		$	550
Accrued expenses		5,327			4,629
Stock options and restricted stock		1,802			1,030
Charitable contributions		1,527			1,277
Impairment		25,746			25,746
Depreciation		6,785			7,232
Unrealized gain		193			138
Net operating loss		122,849			125,223
Credits		3,192			2,892
Total deferred income tax assets		167,996			168,717
Valuation allowance		(158,442	)		(155,393	)
Deferred tax assets, net of valuation allowance		9,554			13,324
Deferred income tax liabilities:
Unrealized loss		42			—
NET DEFERRED INCOME TAX ASSETS	$	9,512		$	13,324

Schedule of provision for income taxes

Year ended July 31  (in thousands)	2016			2015			2014
Current:
Federal	$	(83	)	$	—		$	(279	)
State and local		(30	)		—			—
Foreign		(185	)		(311	)		(1,177	)
		(298	)		(311	)		(1,456	)
Deferred:
Federal		(3,148	)		(1,967	)		(6,461	)
State and local		(51	)		(245	)		(175	)
Foreign		(613	)		(3,565	)		4,110
		(3,812	)		(5,777	)		(2,526	)
PROVISION FOR INCOME TAXES	$	(4,110	)	$	(6,088	)	$	(3,982	)

Schedule of U.S. federal statutory income tax rate and income taxes provided

Year ended July 31  (in thousands)	2016			2015			2014
U.S. federal income tax at statutory rate	$	(10,314	)	$	(32,271	)	$	(8,747	)
Valuation allowance		—			—			4,110
Foreign tax rate differential		6,035			25,757			961
Nondeductible expenses		487			659			761
Other		(67	)		(73	)		7
Prior year tax (expense) benefit		(231	)		—			(960	)
State and local income tax, net of federal benefit		(20	)		(160	)		(114	)
PROVISION FOR INCOME TAXES	$	(4,110	)	$	(6,088	)	$	(3,982	)

Schedule of change in the valuation allowance

Year ended July 31  (in thousands)	Balance at beginning of year		Additions charged to costs and expenses		Deductions			Balance at end of year
2016
Reserves deducted from deferred income taxes, net:
Valuation allowance	$	155,393	$	3,049	$	—		$	158,442
2015
Reserves deducted from deferred income taxes, net:
Valuation allowance	$	151,975	$	3,418	$	—		$	155,393
2014
Reserves deducted from deferred income taxes, net:
Valuation allowance	$	167,328	$	—	$	(15,353	)	$	151,975

Summary of change in the balance of unrecognized income tax benefits

Year ended July 31  (in thousands)	2016		2015		2014
Balance at beginning of year	$	—	$	—	$	356
Additions based on tax positions related to the current year		—		—		—
Additions for tax positions of prior years		—		—		—
Reductions for tax positions of prior years		—		—		—
Settlements		—		—		(356	)
Lapses of statutes of limitations		—		—		—
Balance at end of year	$	—	$	—	$	—