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Summary of Significant Accounting and Reporting Policies (Tables)
12 Months Ended
Jul. 31, 2011
Summary of Significant Accounting and Reporting Policies [Abstract]  
Schedule of Combined Sales by MTS and BFT-1

 

 

 

Net

Sales

 

Percentage of Mobile Data Communications Segment Net Sales

 

 

Percentage of Consolidated 

Net Sales

2011

$     248,578,000

 

86.2%

 

40.6%

2010

423,213,000

 

94.8%

 

54.4%

2009

156,385,000

 

88.4%

 

26.7%

Schedule of numerators and denominators used in basic and diluted EPS calculations

 

 

 

Fiscal Years Ended July 31,

 

 

 

2011

 

2010

 

2009

Numerator:

 

 

 

 

 

 

 

  Net income for basic calculation

 

$  67,895,000

 

60,630,000

 

47,525,000

  Effect of dilutive securities:

 

 

 

 

 

 

     Interest expense (net of tax) on 3.0% convertible senior notes

 

      4,468,000

 

    4,468,000

 

    1,030,000

     Interest expense (net of tax) on 2.0% convertible senior notes

 

                     -

 

                   -

 

Numerator for diluted calculation

 

$  72,363,000

 

  65,098,000

 

  51,421,000

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

  Denominator for basic calculation

 

26,842,000

 

28,270,000

 

26,321,000

  Effect of dilutive securities:

 

 

 

 

 

 

    Stock options

 

215,000

 

316,000

 

448,000

    Conversion of 3.0% convertible

       senior notes

 

      5,566,000

 

     5,488,000

 

     1,268,000

    Conversion of 2.0% convertible

       senior notes

 

                     -

 

                   -

 

Denominator for diluted calculation

 

    32,623,000

 

   34,074,000

 

  29,793,000

Stock-based compensation for awards detailing where recorded in Statement of Operations

 

Fiscal Years Ended July 31,

 

2011

 

2010

 

2009

Cost of sales

$       410,000

 

         828,000

 

         812,000

Selling, general and administrative expenses

      3,976,000

 

      6,317,000

 

      7,080,000

Research and development expenses

         971,000

 

      1,571,000

 

      1,684,000

Stock-based compensation expense before

    income tax benefit

 

      5,357,000

 

 

      8,716,000

 

 

      9,576,000

Income tax benefit

     (1,913,000)

 

     (3,201,000)

 

    (3,201,000)

Net stock-based compensation expense

$    3,444,000

 

      5,515,000

 

      6,375,000

Certain weighted average assumptions used to estimate initial fair value of stock-based awards

 

Fiscal Years Ended July 31,

 

2011

 

2010

 

2009

Expected dividend yield

         3.62%

 

               0%

 

      0%

Expected volatility

       36.31%

 

        38.00%

 

      40.36%

Risk-free interest rate

        1.58%

 

          1.99%

 

        2.19%

Expected life (years)

        5.10

 

          5.01

 

        3.61

Actual income tax benefit recognized for tax deductions relating to the exercise of stock-based awards

 

Fiscal Years Ended July 31,

 

2011

 

2010

 

2009

Actual income tax benefit recorded for the tax deductions relating to the exercise of stock-based awards

 

 

$      306,000

 

 

 

       484,000

 

 

 

   3,805,000

Less: Tax benefit initially recognized on exercised stock-based awards vesting subsequent to the adoption of accounting standards that require us to expense stock-based awards, excluding income tax shortfalls

 

 

 

 

        (81,000)

 

 

 

 

 

       (227,000)

 

 

 

 

 

   (1,275,000)

Excess income tax benefit recorded as an increase to additional paid-in capital

 

       225,000

 

 

        257,000

 

 

    2,530,000

Less: Tax benefit initially disclosed but not previously recognized on exercised equity-classified stock-based awards vesting prior to the adoption of accounting standards that require us to expense stock-based awards

 

 

 

 

                    -

 

 

 

 

 

           (7,000)

 

 

 

 

 

                    -

Excess income tax benefit from exercised equity-classified stock-based awards reported as a cash flow from financing activities in our Consolidated Statements of Cash Flows

 

 

 

$      225,000

 

 

 

 

        250,000

 

 

 

 

     2,530,000