Stock-Based Compensation (Tables)

6 Months Ended

Jan. 31, 2018

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

Summary of Stock-based Awards Outstanding by Award Type

As of January 31, 2018, the following stock-based awards, by award type, were outstanding:

Stock options	1,805,485
Performance shares	277,881
RSUs and restricted stock	425,226
Share units	267,606
Total	2,776,198

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

Stock-based compensation for awards issued is reflected in the following line items in our Condensed Consolidated Statements of Operations:

	Three months ended January 31,					Six months ended January 31,
	2018			2017		2018		2017
Cost of sales	$	51,000		58,000		91,000		106,000
Selling, general and administrative expenses	954,000			878,000		1,608,000		1,729,000
Research and development expenses	75,000			83,000		128,000		154,000
Stock-based compensation expense before income tax benefit	1,080,000			1,019,000		1,827,000		1,989,000
Estimated income tax benefit	(234,000		)	(361,000	)	(494,000	)	(702,000	)
Net stock-based compensation expense	$	846,000		658,000		1,333,000		1,287,000

Summary of net stock-based compensation expense by award type

Stock-based compensation expense (benefit), by award type, is summarized as follows:

	Three months ended January 31,					Six months ended January 31,
	2018			2017		2018		2017
Stock options	$	268,000		386,000		536,000		632,000
Performance shares	371,000			372,000		483,000		866,000
RSUs and restricted stock	390,000			224,000		774,000		412,000
ESPP	51,000			37,000		96,000		79,000
Share units	—			—		(62,000	)	—
Stock-based compensation expense before income tax benefit	1,080,000			1,019,000		1,827,000		1,989,000
Estimated income tax benefit	(234,000		)	(361,000	)	(494,000	)	(702,000	)
Net stock-based compensation expense	$	846,000		658,000		1,333,000		1,287,000

Summary of the Plan's activity relating to stock options

The following table summarizes the Plan's activity during the six months ended January 31, 2018:

	Awards (in Shares)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at July 31, 2017	1,855,875		$	28.60
Expired/canceled	(41,040	)	28.97
Outstanding at October 31, 2017	1,814,835		28.59
Expired/canceled	(9,350	)	29.02
Outstanding at January 31, 2018	1,805,485		$	28.59	5.06	$	11,000
Exercisable at January 31, 2018	1,366,876		$	28.61	4.55	$	4,000
Vested and expected to vest at January 31, 2018	1,755,904		$	28.58	5.01	$	10,000

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

The following table summarizes the Plan's activity relating to performance shares, RSUs, restricted stock and share units:

	Awards (in Shares)		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at July 31, 2017	830,197		$	16.95
Granted	307,194		18.25
Settled	(100,321	)	20.67
Forfeited	(61,520	)	18.88
Outstanding at October 31, 2017	975,550		16.86
Settled	(526	)	11.40
Forfeited	(4,311	)	15.26
Outstanding at January 31, 2018	970,713		$	16.86	$	20,997,000
Vested at January 31, 2018	309,853		$	17.55	$	6,702,000
Vested and expected to vest at January 31, 2018	932,413		$	16.88	$	20,168,000