Stock-Based Compensation (Tables)

12 Months Ended

Jul. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock-based Awards Outstanding by Award Type

	July 31, 2013
Stock options	3,031,910
Performance shares	63,661
RSUs and restricted stock	37,326
Stock units	1,347
SARs	16,000
Total	3,150,244

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

	Fiscal Years Ended July 31,
	2013			2012		2011
Cost of sales	$	174,000		284,000		410,000
Selling, general and administrative expenses	2,470,000			2,716,000		3,976,000
Research and development expenses	486,000			572,000		971,000
Stock-based compensation expense before income tax benefit	3,130,000			3,572,000		5,357,000
Estimated income tax benefit	(1,198,000		)	(1,308,000	)	(1,913,000	)
Net stock-based compensation expense	$	1,932,000		2,264,000		3,444,000

Summary of net stock-based compensation expense by award type

	Fiscal Years Ended July 31,
	2013			2012		2011
Stock options	$	2,400,000		3,279,000		5,139,000
Performance shares	382,000			52,000		—
ESPP	189,000			232,000		270,000
RSUs and restricted stock	140,000			13,000		—
Stock units	24,000			12,000		—
SARs	(5,000		)	(16,000	)	(52,000	)
Stock-based compensation expense before income tax benefit	3,130,000			3,572,000		5,357,000
Estimated income tax benefit	(1,198,000		)	(1,308,000	)	(1,913,000	)
Net stock-based compensation expense	$	1,932,000		2,264,000		3,444,000

Components of actual Income tax benefit recognized for tax deductions relating to settlement of stock-based awards

	Fiscal Years Ended July 31,
	2013		2012		2011
Actual income tax benefit recorded for the tax deductions relating to the settlement of stock-based awards	$	420,000	$	438,000	$	306,000
Less: Tax benefit initially recognized on settled stock-based awards vesting subsequent to the adoption of accounting standards that require us to expense stock-based awards, excluding income tax shortfalls	155,000		197,000		81,000
Excess income tax benefit recorded as an increase to additional paid-in capital	265,000		241,000		225,000
Less: Tax benefit initially disclosed but not previously recognized on settled equity-classified stock-based awards vesting prior to the adoption of accounting standards that require us to expense stock-based awards	—		10,000		—
Excess income tax benefit from settled equity-classified stock-based awards reported as a cash flow from financing activities in our Consolidated Statements of Cash Flows	$	265,000	231,000		225,000

Summary of the Plan's activity relating to stock options (including SARs)

	Awards (in Shares)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at July 31, 2010	3,520,667		$	32.75
Granted	680,750		27.64
Expired/canceled	(481,364	)	35.79
Exercised	(139,885	)	20.29
Outstanding at July 31, 2011	3,580,168		31.86
Granted	423,528		29.24
Expired/canceled	(390,148	)	35.71
Exercised	(155,145	)	20.64
Outstanding at July 31, 2012	3,458,403		31.61
Granted	296,525		26.07
Expired/canceled	(616,135	)	39.96
Exercised	(90,883	)	13.01
Outstanding at July 31, 2013	3,047,910		$	29.94	4.82	$	2,198,000
Exercisable at July 31, 2013	1,896,030		$	31.18	2.73	$	1,895,000
Vested and expected to vest at July 31, 2013	2,945,608		$	30.00	4.70	$	2,182,000

Certain weighted average assumptions used to estimate initial fair value of stock options

	Fiscal Years Ended July 31,
	2013		2012		2011
Expected dividend yield	4.22	%	3.76	%	3.62	%
Expected volatility	30.09	%	36.63	%	36.31	%
Risk-free interest rate	1.02	%	0.64	%	1.58	%
Expected life (years)	5.39		5.29		5.10

Summary of the Plan's activity relating to performance shares, RSUs, restricted stock and stock units

	Awards (in Shares)	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at July 31, 2011	—	$	—
Granted	48,081	26.28
Converted to common stock	—	—
Forfeited	—	—
Outstanding at July 31, 2012	48,081	26.28
Granted	54,253	25.37
Converted to common stock	—	—
Forfeited	—	—
Outstanding at July 31, 2013	102,334	$	25.80	$	2,771,000
Vested at July 31, 2013	4,515	$	26.71	$	122,000
Vested and expected to vest at July 31, 2013	98,174	$	25.80	$	2,659,000