Acquisition (Tables)

6 Months Ended

Jan. 31, 2014

Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed at the acquisition date. The fair values are subject to refinement within the measurement period as we finalize our valuations.

	Estimated Fair Value as of November 1, 2013
	(in thousands)
Consideration transferred:
Cash	$	12,505
Contingent Consideration	500
Fair value of total consideration transferred	13,005
Recognized amounts of identifiable assets acquired:
Inventories	$	664
Current assets	630
Deferred taxes - current	190
Equipment	299
Deferred taxes - noncurrent	46
Customer list	7,785
Total identifiable net assets	9,614
Goodwill	$	3,391

Business Acquisition, Pro Forma Information

The following proforma results are presented for comparative purposes only (unaudited) (in thousands, except per share amounts):

	Three months ended				Six months ended
	January 31,				January 31,
	2014		2013		2014		2013
Proforma net sales	$	69,305	$	66,697	$	137,817	$	133,794
Proforma net income	$	4,209	$	2,057	$	6,802	$	6,335
Proforma net income per share - Basic Common	$	0.64	$	0.32	$	1.04	$	0.98
Proforma net income per share - Basic Class B	$	0.48	$	0.24	$	0.78	$	0.74
Proforma net income per share - Diluted	$	0.59	$	0.29	$	0.96	$	0.90