KMG Chemicals 10-Q 11 Dec 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Oct. 31, 2015	Dec. 08, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	KMG
Entity Registrant Name	KMG CHEMICALS INC
Entity Central Index Key	1,028,215
Current Fiscal Year End Date	--07-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,715,586

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Current assets
Cash and cash equivalents	$ 10,398	$ 7,517
Accounts receivable
Trade, net of allowances of $156 at October 31, 2015 and $144 at July 31, 2015	35,573	36,887
Other	3,515	3,668
Inventories, net	39,592	42,082
Current deferred tax assets	2,953	2,953
Prepaid expenses and other	2,739	3,738
Total current assets	94,770	96,845
Property, plant and equipment, net	80,289	80,589
Deferred tax assets	131	131
Goodwill	22,374	22,408
Intangible assets, net	35,959	36,560
Restricted cash	1,000	1,000
Other assets, net	4,850	4,826
Total assets	239,373	242,359
Current liabilities
Accounts payable	27,279	35,980
Accrued liabilities	10,120	9,602
Employee incentive accrual	6,780	4,852
Total current liabilities	44,179	50,434
Long-term debt, net of current maturities	51,500	53,000
Deferred tax liabilities	13,145	13,075
Other long-term liabilities	2,422	2,429
Total liabilities	$ 111,246	$ 118,938
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued
Common stock, $0.01 par value, 40,000,000 shares authorized, 11,710,439 shares issued and outstanding at October 31, 2015 and 11,690,439 shares issued and outstanding at July 31, 2015	$ 117	$ 117
Additional paid-in capital	32,625	31,676
Accumulated other comprehensive income (loss)	(10,151)	(9,667)
Retained earnings	105,536	101,295
Total stockholders’ equity	128,127	123,421
Total liabilities and stockholders’ equity	$ 239,373	$ 242,359

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Statement Of Financial Position [Abstract]
Allowances for accounts receivables	$ 156	$ 144
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	11,710,439	11,690,439
Common stock, shares outstanding	11,710,439	11,690,439

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Income Statement [Abstract]
Net sales	$ 76,650	$ 90,779
Cost of sales	47,390	63,188
Gross profit	29,260	27,591
Distribution expenses	10,129	12,999
Selling, general and administrative expenses	11,215	9,200
Restructuring charges	466	577
Realignment charges	130	1,996
Operating income	7,320	2,819
Other income (expense)
Interest expense, net	(152)	(803)
Other, net	(17)	(28)
Total other expense, net	(169)	(831)
Income before income taxes	7,151	1,988
Provision for income taxes	(2,560)	(803)
Net income	$ 4,591	$ 1,185
Earnings per share
Net income per common share basic	$ 0.39	$ 0.10
Net income per common share diluted	$ 0.39	$ 0.10
Weighted average shares outstanding
Basic	11,697	11,658
Diluted	11,865	11,696

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 4,591	$ 1,185
Other comprehensive income
Foreign currency translation income (loss)	(484)	(3,974)
Total other comprehensive income (loss)	(484)	(3,974)
Total comprehensive income (loss)	$ 4,107	$ (2,789)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Cash flows from operating activities
Net income	$ 4,591	$ 1,185
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	3,545	3,430
Non-cash restructuring and realignment charges	105	2,589
Amortization of loan costs	42	27
Stock-based compensation expense	939	436
Bad debt expense	12
Allowance for excess and obsolete inventory	57	221
Loss (gain) on disposal of property	9	(2)
Deferred income taxes	86	(1,141)
Tax benefit from stock-based awards	(10)	(9)
Changes in operating assets and liabilities
Accounts receivable — trade	1,099	(2,398)
Accounts receivable — other	160	(373)
Inventories	2,310	(826)
Other current and noncurrent assets	420	(139)
Accounts payable	(7,850)	4,486
Accrued liabilities and other	2,450	2,099
Net cash provided by operating activities	7,965	9,585
Cash flows from investing activities
Additions to property, plant and equipment	(3,616)	(4,184)
Disposals of property, plant and equipment		10
Net cash used in investing activities	(3,616)	(4,174)
Cash flows from financing activities
Net payments under revolving credit agreement		(40,000)
Principal payments on term loan		(20,000)
Borrowings under New Credit Facility		59,100
Payments under New Credit Facility	(1,500)	(3,100)
Tax benefit from stock-based awards	10	9
Payment of dividends	(351)	(349)
Net cash used in financing activities	(1,841)	(4,340)
Effect of exchange rate changes on cash	373	(592)
Net increase in cash and cash equivalents	2,881	479
Cash and cash equivalents at beginning of period	7,517	19,252
Cash and cash equivalents at end of period	10,398	19,731
Supplemental disclosures of cash flow information
Cash paid for interest	151	757
Cash paid for income taxes	1,371	1,149
Supplemental disclosure of non-cash investing activities
Purchase of property, plant and equipment through accounts payable	$ 137	$ 960

Basis of Presentation

Basis of Presentation	3 Months Ended
	Oct. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The consolidated balance sheet as of July 31, 2015, which has been derived from audited consolidated financial statements, and the unaudited condensed consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim reporting. As permitted under those requirements, certain footnotes or other financial information that are normally required by generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted. The Company believes that the disclosures made are adequate to make the information not misleading and in the opinion of management reflect all adjustments, including those of a normal recurring nature, that are necessary for a fair presentation of financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of results of operations to be expected for the full year. The unaudited condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2015. These condensed consolidated financial statements are prepared using certain estimates by management and include the accounts of KMG Chemicals, Inc. and its subsidiaries (collectively, the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation.

Acquisitions

Acquisitions	3 Months Ended
	Oct. 31, 2015
Business Combinations [Abstract]
Acquisitions	2. Acquisitions On May 1, 2015, the Company completed the acquisition of Valves Incorporated of Texas, a privately held Texas corporation, pursuant to the terms of a previously announced Agreement and Plan of Merger. The acquired company manufactures and distributes industrial sealants and lubricants, primarily to the oil and gas, storage, pipeline and gas distribution markets, as well as related products, such as lubrication equipment and fittings. As of October 31, 2015, the valuation of the assets acquired and the liabilities assumed is not final. The pro forma impact on consolidated results is immaterial.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Oct. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	3. Earnings Per Share Basic earnings per share have been computed by dividing net income by the weighted average shares outstanding. Diluted earnings per share have been computed by dividing net income by the weighted average shares outstanding plus potentially dilutive common shares. There were approximately 168,000 and 38,000 dilutive shares related to stock-based awards for the three months ended October 31, 2015 and 2014, respectively. Outstanding stock-based awards are not included in the computation of diluted earnings per share under the treasury stock method if including them would be anti-dilutive. There were 14,783 such potentially dilsutive securities that were not included for the three months ended October 31, 2015. There were no shares of potentially dilutive securities not included in the computation of diluted earnings per share for the three months ended October 31, 2014.

Inventories

Inventories	3 Months Ended
	Oct. 31, 2015
Inventory Disclosure [Abstract]
Inventories	4. Inventories Inventories are summarized in the following table (in thousands): October 31, July 31, 2015 2015 Raw materials $ 7,646 $ 8,723 Work in process 1,053 780 Supplies 1,016 525 Finished products 30,395 32,535 Less: reserve for inventory obsolescence (518 ) (481 ) Inventories, net $ 39,592 $ 42,082

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Oct. 31, 2015
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	5. Property, Plant and Equipment Property, plant and equipment and related accumulated depreciation and amortization are summarized as follows (in thousands): October 31, July 31, 2015 2015 Land $ 13,306 $ 13,257 Buildings and improvements 37,903 38,036 Equipment 84,387 84,273 Leasehold improvements 193 193 135,789 135,759 Less: accumulated depreciation and amortization (64,328 ) (61,936 ) 71,461 73,823 Construction-in-progress 8,828 6,766 Property, plant and equipment, net $ 80,289 $ 80,589

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Oct. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	6. Stock-Based Compensation The Company has stock-based incentive plans which are described in more detail in the consolidated financial statements in the Company’s Annual Report on Form 10-K for fiscal year 2015. The Company recognized stock-based compensation costs of approximately $939,000 and $436,000 for the three months ended October 31, 2015 and 2014, respectively. The Company also recognized the related tax benefits of $333,000 and $161,000 for the three months ended October 31, 2015 and 2014, respectively. Stock-based compensation costs are recorded under selling, general and administrative expenses in the condensed consolidated statements of income. As of October 31, 2015, the unrecognized compensation costs related to stock-based awards was approximately $5.4 million, which is expected to be recognized over a weighted-average period of 2.2 years. Performance Shares On August 1, 2015, there were 244,790 non-vested performance shares outstanding which reflected the maximum number of shares under the awards. No performance share awards vested during the three months ended October 31, 2015. As of October 31, 2015, the non-vested performance-based stock awards consisted of Series 1 awards granted to certain executives and employees in fiscal years 2015 and 2014 as summarized below reflecting the target number of shares under the awards. Target Expected Series Award Grant Date Measurement Percentage Shares Date of Grant Award Shares Fair Value Period Vesting (1) to Vest Fiscal Year 2015 Awards 3/26/2015 Series 1 21,173 $ 25.85 7/31/2017 12/9/2014 Series 1 103,499 $ 17.81 7/31/2017 Forfeitures (2) (1,124 ) Total 123,548 134 % 165,368 Fiscal Year 2014 Awards 2/25/2014 Series 1 127,315 $ 14.88 7/31/2016 Forfeitures (2) (7,372 ) Total 119,943 100 % 119,943 (1) The percentage vesting for performance share awards is currently estimated at 134% and 100% of the target award for the fiscal year 2015 and 2014 awards, respectively. (2) Forfeitures include Series 1 awards that were granted in fiscal years 2015 and 2014 to certain employees that were forfeited at the termination of their employment. Series 1: For the fiscal year 2015 and 2014 awards, vesting is subject to performance requirements composed of certain objectives including average annual return on invested capital and annual compound growth rate in the Company’s diluted earnings per share. These objectives are assessed quarterly using the Company’s budget, actual results and long-term projections. For each of the Series 1 awards, the expected percentage of vesting is evaluated through October 31, 2015, and reflects the percentage of shares projected to vest for the respective awards at the end of their measurement periods. For the fiscal year 2015 and 2014 awards, shares vested may increase to a maximum of 167% and 150%, respectively, of the target award on achievement of maximum performance objectives. Series 2: None outstanding. Series 3: The table does not include certain performance-based awards that are granted to Christopher T. Fraser according to his employment agreement. Awards to Mr. Fraser for fiscal year 2015 included (i) a performance-based Series 3 award for 10,000 shares of common stock (at maximum) having a performance requirement related to debt payments during the fiscal year, and (ii) a performance-based Series 3 award for 4,000 shares of common stock having certain organizational objectives as a performance requirement, and in each case such awards vest and are measured over a one year period beginning August 1 and ending July 31. The award for fiscal year 2015 was fully vested and 14,000 shares were issued on October 1, 2015. As of October 31, 2015, the 2016 Series 3 awards to Mr. Fraser have not been granted, but when granted they are expected to vest at 100%. The weighted-average per share grant-date fair value of the target award shares for performance-based awards outstanding was $17.51 and $17.36 at October 31, 2015 and August 1, 2015, respectively. The weighted-average per share grant-date fair value of the target award shares for performance-based awards granted during the three months ended October 31, 2015 and 2014 was $21.04 and $16.65, respectively. The weighted-average per share grant-date fair value of awards forfeited during the three months ended October 31, 2015 and 2014 was $19.63 and $14.88, respectively. Time Based Shares A summary of activity for time-based stock awards for the three months ended October 31, 2015 is presented below: Shares Weighted-Average Grant-Date Fair Value Non-vested on August 1, 2015 82,688 $ 19.66 Granted (1) 85,147 21.83 Vested (2) (11,147 ) 21.59 Forfeited (3) (188 ) 25.85 Non-vested on October 31, 2015 156,500 20.70 (1) Includes 5,147 shares granted to non-employee directors for service during the three month period ended October 31, 2015. Also includes 80,000 shares granted to Mr. Fraser which vest over a service period of five years beginning on August 1, 2015. The shares are to vest one third (1/3) at the end of years three, four and five of the service period. (2) Includes 5,147 shares granted to non-employee directors for service for the three months ended October 31, 2015. The shares vest on the date of grant, and the Company recognizes compensation expense related to the awards over the respective service periods in accordance with GAAP. The vested amount includes 6,000 shares granted to Mr. Fraser. (3) Forfeitures include Series 1 awards that were granted in fiscal year 2015 to certain employees that were forfeited at the termination of their employment. The total fair value of shares vested during the three months ended October 31, 2015 and 2014 was approximately $474,000 and $237,000, respectively.

Intangible Assets

Intangible Assets	3 Months Ended
	Oct. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	7. Intangible Assets Intangible assets are summarized as follows (in thousands): Number October 31, 2015 Weighted Foreign Average Currency Amortization Original Accumulated Translation Carrying Period Cost Amortization Adjustment Amount Intangible assets subject to amortization: (range of useful life): Electronic chemicals-related contracts (5-8 years) 6.2 $ 2,204 $ (905 ) $ (99 ) $ 1,200 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (81 ) — 36 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (3,900 ) (20 ) 10,180 Other chemicals-customer relationships (15 years) 15.0 10,291 (343 ) — 9,948 Other chemicals-Other related contracts (5 years) 5.0 152 (15 ) — 137 Total intangible assets subject to amortization 13.8 $ 26,864 $ (5,244 ) $ (119 ) $ 21,501 Intangible assets not subject to amortization: Other chemicals-penta product registrations 8,765 Other chemicals-related trade name and trademark 2,885 Other chemicals-proprietary manufacturing process 2,808 Total intangible assets not subject to amortization 14,458 Total intangible assets, net $ 35,959 Number July 31, 2015 Weighted Foreign Average Currency Amortization Original Accumulated Translation Carrying Period Cost Amortization Adjustment Amount Intangible assets subject to amortization: (range of useful life): Electronic chemicals-related contracts (5-8 years) 6.6 $ 2,204 $ (839 ) $ (87 ) $ 1,278 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (77 ) — 40 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (3,649 ) 70 10,521 Other chemicals-customer relationships (15 years) 15.0 10,291 (172 ) — 10,119 Other chemicals-Other related contracts (5 years) 5.0 152 (8 ) — 144 Total intangible assets subject to amortization 13.8 $ 26,864 $ (4,745 ) $ (17 ) 22,102 Intangible assets not subject to amortization: Other chemicals-penta product registrations 8,765 Other chemicals-related trade name and trademark 2,885 Other chemicals-proprietary manufacturing process 2,808 Total intangible assets not subject to amortization 14,458 Total intangible assets, net $ 36,560 Intangible assets subject to amortization are amortized over their estimated useful lives. Amortization expense was approximately $499,000 and $414,000 for the three month periods ended October 31, 2015 and 2014, respectively.

Dividends

Dividends	3 Months Ended
	Oct. 31, 2015
Dividends [Abstract]
Dividends	8. Dividends Dividends of approximately $351,000 ($0.03 per share) and $349,000 ($0.03 per share) were declared and paid in the first quarter of fiscal years 2016 and 2015, respectively.

Segment Information

Segment Information	3 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Segment Information	9. Segment Information The Company has two reportable segments — electronic chemicals and other chemicals. Three Months Ended October 31, 2015 2014 (Amounts in thousands) Sales Electronic chemicals $ 66,082 $ 66,323 Other chemicals 10,568 24,427 Total sales for reportable segments $ 76,650 $ 90,750 Depreciation and amortization (1) Electronic chemicals $ 2,915 $ 3,202 Other chemicals 297 96 Other 333 132 Total consolidated depreciation and amortization $ 3,545 $ 3,430 Segment income from operations (2) Electronic chemicals $ 7,274 $ 4,121 Other chemicals 3,764 2,585 Total segment income from operations $ 11,038 $ 6,706 (1) Depreciation and amortization excludes restructuring related depreciation. (2) Segment income from operations includes allocated corporate overhead expenses. Corporate overhead expenses allocated to segment income from operations for the three months ended October 31, 2015 and 2014 were as follows: Three Months Ended October 31, 2015 2014 (Amounts in thousands) Electronic chemicals $ 2,481 $ 2,391 Other chemicals 790 934 Total corporate overhead expense allocation $ 3,271 $ 3,325 A reconciliation of total segment information to consolidated amounts is as follows: Three Months Ended October 31, 2015 2014 (Amounts in thousands) Sales Total sales for reportable segments $ 76,650 $ 90,750 Other — 29 Net sales $ 76,650 $ 90,779 Segment income from operations Total segment income from operations $ 11,038 $ 6,706 Other corporate expense (1) (3,122 ) (1,314 ) Restructuring and realignment charges (596 ) (2,573 ) Operating income 7,320 2,819 Interest expense, net (152 ) (803 ) Other income (expense), net (Including gain on sale of creosote distribution business) (17 ) (28 ) Income before income taxes $ 7,151 $ 1,988 (1) Other corporate expense primarily represents employee stock-based compensation expenses and those expenses associated with the Company’s operation as a public company, such as board compensation, audit expense, fees related to the listing of our stock, and expenses incurred to pursue acquisition opportunities.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	10. Long-Term Debt The Company’s debt as of October 31, 2015 and July 31, 2015 consisted of the following: October 31, July 31, 2015 2015 (Amounts in thousands) Senior secured debt: Revolving loan facility, maturing on October 9, 2019, variable interest rates based on LIBOR plus 1.0% at October 31, 2015 $ 51,500 $ 53,000 Total debt 51,500 53,000 Current maturities of long-term debt — — Long-term debt, net of current maturities $ 51,500 $ 53,000 On October 9, 2014, the Company entered into a new credit facility (the “Second Restated Credit Facility”). The Second Restated Credit Facility is with Wells Fargo Bank, National Association, Bank of America, N.A., HSBC Bank USA, National Association and JPMorgan Chase Bank, N.A. The initial advance under the Second Restated Credit Facility was used to repay in full the $20.0 million outstanding indebtedness under the Company’s note purchase agreement with The Prudential Insurance Company of America and Pruco Life Insurance Company, and the Company refinanced $38.0 million then outstanding under its existing revolving loan facility. The Company incurred approximately $666,000 in fees and expenses to enter into the Second Restated Credit Facility. Additionally, the Company paid $288,000 for a make-whole charge for the early repayment of the note purchase agreement. The Second Restated Credit Facility provides for a revolving loan up to $150.0 million, including an accordion feature that allows for an additional revolving loan increase of up to an additional $100.0 million with approval from the lenders. At October 31, 2015, the Company had $51.5 million outstanding under the revolving facility, and an additional $2.8 million was reserved for outstanding letters of credit, with up to an additional $95.7 million of additional borrowing capacity. The amount available under the Second Restated Credit Facility at October 31, 2015 was limited, however, by a loan covenant restriction related to the ratio of funded debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”). Taking that restriction into account, at October 31, 2015 the Company could draw approximately an additional $84.9 million on its revolving loan. The maturity date for the Second Restated Credit Facility is October 9, 2019. The revolving loan bears interest at a varying rate of the 30-day LIBOR rate plus a margin based on our funded debt to EBITDA. Ratio of Funded Debt to EBITDA Margin Equal to or greater than 3.00 to 1.0 1.875 % Equal to or greater than 2.75 to 1.0, but less than 3.00 to 1.0 1.625 % Equal to or greater than 2.50 to 1.0, but less than 2.75 to 1.0 1.500 % Equal to or greater than 2.25 to 1.0, but less than 2.50 to 1.0 1.375 % Equal to or greater than 2.00 to 1.0, but less than 2.25 to 1.0 1.250 % Equal to or greater than 1.50 to 1.0, but less than 2.00 to 1.0 1.125 % Less than 1.50 to 1.0 1.000 % Advances under the revolving loan bear interest at 1.188% as of October 31, 2015. The Company will also incur an unused commitment fee on the unused amount of commitments under the Second Restated Credit Facility from 0.30% to 0.15%, based on the ratio of funded debt to EBITDA. Loans under the Second Restated Credit Facility are secured by the Company’s assets, including inventory, accounts receivable, equipment, intangible assets, and real property. The Second Restated Credit Facility has restrictive covenants, including that the Company must maintain a fixed charge coverage ratio of 1.5 to 1.0 or greater, a ratio of funded debt to EBITDA (as adjusted for non-cash and unusual, non-recurring, and certain acquisition and integration costs) of 3.25 to 1.0 (with a step-up to 3.5 to 1.0 during an acquisition period with lender consent) and a current ratio of at least 1.5 to 1.0. As of October 31, 2015, the Company was in compliance with all covenants of the Second Restated Credit Facility.

Income Taxes

Income Taxes	3 Months Ended
	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Income tax expense for the interim periods was computed using an estimated annual effective income tax rate applied to year-to-date income before income tax expense. In determining the estimated annual effective income tax rate, we analyze various factors, including forecasts of projected annual earnings and the ability to use tax credits and net operating loss carry forwards. The overall effective income tax rate for the three month period ended October 31, 2015 is 35.8%, including the valuation allowances recorded against the Company’s current operating losses for its Italian subsidiary. For the three month period ended October 31, 2014, the overall effective income tax rate was 40.4%. Excluding the Italian results and discrete benefits, the estimated annual effective tax rate on ordinary income is 34.2% for the three month period ended October 31, 2015. Excluding the Italian results and discrete benefits, for the three month period ended October 31, 2014 the overall effective rate was 33.7%.

Litigation and Other Contingenc

Litigation and Other Contingencies	3 Months Ended
	Oct. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Litigation and Other Contingencies	12. Litigation and Other Contingencies The Company is subject to contingencies, including litigation relating to environmental laws and regulations, commercial disputes and other matters. Certain of these contingencies are discussed below. The ultimate resolution of these contingencies is subject to significant uncertainty, and should the Company fail to prevail in any of them or should several of them be resolved against the Company in the same reporting period, these matters could, individually or in the aggregate, be material to the consolidated financial statements. The ultimate outcome of these matters, however, cannot be determined at this time, nor can the amount of any potential loss be reasonably estimated, and as a result except where indicated no amounts have been recorded in the Company’s consolidated financial statements. The Company records legal costs associated with loss contingencies as expenses in the period in which they are incurred. The Company’s subsidiary in Italy is contesting two cases in the Provincial Tax Court in Milan, Italy. In the first case the Company disputes income tax assessments by the taxing authority for the three year period ended July 31, 2011. In the aggregate, the amount of the assessments, including interest and penalties, is €1.8 million. If all the adjustments are sustained, the additional liability for the years 2009 through 2011 would total approximately $2.0 million, including interest and penalties through October 31, 2015 (at an exchange rate of 1.103 $/€). The Company had a liability for an uncertain tax position for items in the amount of $99,000 and $57,000 as of October 31, 2015 and July 31, 2015, respectively. In the second case, the Company’s subsidiary is contesting the assessment of additional registration tax. The taxing authority is asserting an increased valuation of assets purchased from Air Products and Chemicals, Inc. in December 2007 on which registration tax is payable. The amount of this assessment, including interest and penalties through October 31, 2015, is €805,000 (or approximately $890,000 at an exchange rate of 1.103 $/€). The Provincial Tax Court issued a ruling in October 2014 agreeing with the Company’s position in the income tax assessment case. In April 2015, the taxing authority appealed that ruling. The hearing date has not been set. The Company intends to vigorously pursue its position before the court in both cases, but the ultimate outcome of this litigation is subject to uncertainty. The EPA has listed the Star Lake Canal Superfund Site near Beaumont, Texas on the National Priorities List. In December 2002, the Company received a letter from the EPA addressed to Idacon (f/k/a Sonford Chemical Company) notifying Idacon of potential liability under CERCLA in connection with this site. The letter requested reimbursement from Idacon for costs incurred by the EPA in responding to releases at the site, equal to $500,000 as of July 31, 2002. Idacon sold substantially all of its assets to one of our subsidiaries in 1988. The Company responded to a request for information from the EPA on the corporate history and relationship between the Company and its subsidiaries and Sonford Chemical Company in April 2003. On December 22, 2005, the EPA and certain potentially responsible parties entered an administrative order on consent which required the implementation of a remedial investigation and feasibility study. We understand that these studies were completed by mid-2012. EPA prepared a Record of Decision, selecting a remedy of excavation and disposal of soil and/or sediment, containment with soil, clay and/or armor caps and monitored natural recovery. The EPA has estimated that the remediation will cost approximately $22.0 million. In October 2014, the Company’s subsidiary, KMG-Bernuth, received a letter from EPA notifying it of potential liability under CERCLA, and inviting it to enter into negotiations to pay for or perform the selected remedy. The Company is engaged in discussions with EPA and approximately seven other parties to assess their respective potential liability. No assurance can be given that the EPA will not designate the Company’s subsidiary as a potentially responsible party. The Company established a liability of $1.3 million in the third quarter of fiscal year 2015 in connection with this matter. The Company is subject to federal, state, local and foreign laws and regulations and potential liabilities relating to the protection of the environment and human health and safety including, among other things, the cleanup of contaminated sites, the treatment, storage and disposal of wastes, the emission of substances into the air or waterways, and various health and safety matters. The Company expects to incur substantial costs for ongoing compliance with such laws and regulations. The Company may also face governmental or third-party claims, or otherwise incur costs, relating to cleanup of, or for injuries resulting from, contamination at sites associated with past and present operations. The Company accrues for environmental liabilities when a determination can be made that they are probable and reasonably estimable.

Restructuring and Realignment E

Restructuring and Realignment Events	3 Months Ended
	Oct. 31, 2015
Restructuring And Related Activities [Abstract]
Restructuring and Realignment Events	13. Restructuring and Realignment Events As part of the Company’s global restructuring of its electronic chemicals operations, the Fremont, California manufacturing site acquired in the acquisition from OM Group has been closed, and production has been shifted primarily to the Company’s Hollister, California and Pueblo, Colorado facilities. The Company has also announced that it will close one of its facilities in Milan, Italy, and shift some production to facilities in France and the United Kingdom. Accelerated depreciation with respect to the closed facilities has been completed. At October 31, 2015, the accrued liability associated with restructuring and other related charges consisted of the following: Employee Decommissioning Costs and Other Total Accrued liability at August 1, 2015 $ 716 $ 169 $ 17 $ 902 Charges — — — — Payments — (51 ) — (51 ) Adjustment 3 1 — 4 Accrued liability at October 31, 2015 $ 719 $ 119 $ 17 $ 855 Total accelerated depreciation related to the closure of the Fremont and Milan facilities for the three months ended October 31, 2015 and 2014 was approximately $105,000 and $631,000, respectively. In October 2014, the Company announced a realignment of its hydrofluoric acid business and subsequently exited the facility operated for the Company by Chemtrade Logistics (“Chemtrade”) in Bay Point, California. Under the manufacturing agreement, the Company is obligated to pay or reimburse Chemtrade for certain costs associated with the cessation of operations at Bay Point, including certain employee costs and the decommissioning, dismantling and removal of the Company’s manufacturing equipment at the site. The asset retirement obligation was initially established in the amount of $3.7 million for decontamination, decommissioning and dismantling at Bay Point. Operations ceased in the third quarter of fiscal year 2015. The changes to the asset retirement obligation associated with realignment during the three months ended October 31, 2015 are as follows: Asset retirement obligation at August 1, 2015 $ 811 Charges 130 Payments (132 ) Asset retirement obligation at October 31, 2015 $ 809 The Company incurred no charges for accelerated depreciation during the three month period ended October 31, 2015. For the three month period ended October 31, 2014, the Company recorded $1.9 million of accelerated depreciation. All assets have been fully depreciated as of July 31, 2015. Additionally, the Company incurred certain employee costs of $130,000 during the three months ended October 31, 2015, and $38,000 in employee costs during the three months ended October 31, 2014.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Oct. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories are summarized in the following table (in thousands): October 31, July 31, 2015 2015 Raw materials $ 7,646 $ 8,723 Work in process 1,053 780 Supplies 1,016 525 Finished products 30,395 32,535 Less: reserve for inventory obsolescence (518 ) (481 ) Inventories, net $ 39,592 $ 42,082

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Oct. 31, 2015
Property Plant And Equipment [Abstract]
Property, Plant, and Equipment and Related Accumulated Depreciation and Amortization	October 31, July 31, 2015 2015 Land $ 13,306 $ 13,257 Buildings and improvements 37,903 38,036 Equipment 84,387 84,273 Leasehold improvements 193 193 135,789 135,759 Less: accumulated depreciation and amortization (64,328 ) (61,936 ) 71,461 73,823 Construction-in-progress 8,828 6,766 Property, plant and equipment, net $ 80,289 $ 80,589

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Oct. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Performance Based Stock Awards Granted	Target Expected Series Award Grant Date Measurement Percentage Shares Date of Grant Award Shares Fair Value Period Vesting (1) to Vest Fiscal Year 2015 Awards 3/26/2015 Series 1 21,173 $ 25.85 7/31/2017 12/9/2014 Series 1 103,499 $ 17.81 7/31/2017 Forfeitures (2) (1,124 ) Total 123,548 134 % 165,368 Fiscal Year 2014 Awards 2/25/2014 Series 1 127,315 $ 14.88 7/31/2016 Forfeitures (2) (7,372 ) Total 119,943 100 % 119,943 (1) The percentage vesting for performance share awards is currently estimated at 134% and 100% of the target award for the fiscal year 2015 and 2014 awards, respectively. (2) Forfeitures include Series 1 awards that were granted in fiscal years 2015 and 2014 to certain employees that were forfeited at the termination of their employment.
Summary of Activity for Time-Based Stock Awards	A summary of activity for time-based stock awards for the three months ended October 31, 2015 is presented below: Shares Weighted-Average Grant-Date Fair Value Non-vested on August 1, 2015 82,688 $ 19.66 Granted (1) 85,147 21.83 Vested (2) (11,147 ) 21.59 Forfeited (3) (188 ) 25.85 Non-vested on October 31, 2015 156,500 20.70 (1) Includes 5,147 shares granted to non-employee directors for service during the three month period ended October 31, 2015. Also includes 80,000 shares granted to Mr. Fraser which vest over a service period of five years beginning on August 1, 2015. The shares are to vest one third (1/3) at the end of years three, four and five of the service period. (2) Includes 5,147 shares granted to non-employee directors for service for the three months ended October 31, 2015. The shares vest on the date of grant, and the Company recognizes compensation expense related to the awards over the respective service periods in accordance with GAAP. The vested amount includes 6,000 shares granted to Mr. Fraser. (3) Forfeitures include Series 1 awards that were granted in fiscal year 2015 to certain employees that were forfeited at the termination of their employment.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Oct. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets are summarized as follows (in thousands): Number October 31, 2015 Weighted Foreign Average Currency Amortization Original Accumulated Translation Carrying Period Cost Amortization Adjustment Amount Intangible assets subject to amortization: (range of useful life): Electronic chemicals-related contracts (5-8 years) 6.2 $ 2,204 $ (905 ) $ (99 ) $ 1,200 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (81 ) — 36 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (3,900 ) (20 ) 10,180 Other chemicals-customer relationships (15 years) 15.0 10,291 (343 ) — 9,948 Other chemicals-Other related contracts (5 years) 5.0 152 (15 ) — 137 Total intangible assets subject to amortization 13.8 $ 26,864 $ (5,244 ) $ (119 ) $ 21,501 Intangible assets not subject to amortization: Other chemicals-penta product registrations 8,765 Other chemicals-related trade name and trademark 2,885 Other chemicals-proprietary manufacturing process 2,808 Total intangible assets not subject to amortization 14,458 Total intangible assets, net $ 35,959 Number July 31, 2015 Weighted Foreign Average Currency Amortization Original Accumulated Translation Carrying Period Cost Amortization Adjustment Amount Intangible assets subject to amortization: (range of useful life): Electronic chemicals-related contracts (5-8 years) 6.6 $ 2,204 $ (839 ) $ (87 ) $ 1,278 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (77 ) — 40 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (3,649 ) 70 10,521 Other chemicals-customer relationships (15 years) 15.0 10,291 (172 ) — 10,119 Other chemicals-Other related contracts (5 years) 5.0 152 (8 ) — 144 Total intangible assets subject to amortization 13.8 $ 26,864 $ (4,745 ) $ (17 ) 22,102 Intangible assets not subject to amortization: Other chemicals-penta product registrations 8,765 Other chemicals-related trade name and trademark 2,885 Other chemicals-proprietary manufacturing process 2,808 Total intangible assets not subject to amortization 14,458 Total intangible assets, net $ 36,560

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Segment Information	The Company has two reportable segments — electronic chemicals and other chemicals. Three Months Ended October 31, 2015 2014 (Amounts in thousands) Sales Electronic chemicals $ 66,082 $ 66,323 Other chemicals 10,568 24,427 Total sales for reportable segments $ 76,650 $ 90,750 Depreciation and amortization (1) Electronic chemicals $ 2,915 $ 3,202 Other chemicals 297 96 Other 333 132 Total consolidated depreciation and amortization $ 3,545 $ 3,430 Segment income from operations (2) Electronic chemicals $ 7,274 $ 4,121 Other chemicals 3,764 2,585 Total segment income from operations $ 11,038 $ 6,706 (1) Depreciation and amortization excludes restructuring related depreciation. (2) Segment income from operations includes allocated corporate overhead expenses.
Overhead Expenses Allocated to Segment Income	Corporate overhead expenses allocated to segment income from operations for the three months ended October 31, 2015 and 2014 were as follows: Three Months Ended October 31, 2015 2014 (Amounts in thousands) Electronic chemicals $ 2,481 $ 2,391 Other chemicals 790 934 Total corporate overhead expense allocation $ 3,271 $ 3,325
Reconciliation of Total Segment to Consolidated Amounts	A reconciliation of total segment information to consolidated amounts is as follows: Three Months Ended October 31, 2015 2014 (Amounts in thousands) Sales Total sales for reportable segments $ 76,650 $ 90,750 Other — 29 Net sales $ 76,650 $ 90,779 Segment income from operations Total segment income from operations $ 11,038 $ 6,706 Other corporate expense (1) (3,122 ) (1,314 ) Restructuring and realignment charges (596 ) (2,573 ) Operating income 7,320 2,819 Interest expense, net (152 ) (803 ) Other income (expense), net (Including gain on sale of creosote distribution business) (17 ) (28 ) Income before income taxes $ 7,151 $ 1,988 (1) Other corporate expense primarily represents employee stock-based compensation expenses and those expenses associated with the Company’s operation as a public company, such as board compensation, audit expense, fees related to the listing of our stock, and expenses incurred to pursue acquisition opportunities.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Debt	The Company’s debt as of October 31, 2015 and July 31, 2015 consisted of the following: October 31, July 31, 2015 2015 (Amounts in thousands) Senior secured debt: Revolving loan facility, maturing on October 9, 2019, variable interest rates based on LIBOR plus 1.0% at October 31, 2015 $ 51,500 $ 53,000 Total debt 51,500 53,000 Current maturities of long-term debt — — Long-term debt, net of current maturities $ 51,500 $ 53,000
Ratio of Funded Debt to EBITDA	The revolving loan bears interest at a varying rate of the 30-day LIBOR rate plus a margin based on our funded debt to EBITDA. Ratio of Funded Debt to EBITDA Margin Equal to or greater than 3.00 to 1.0 1.875 % Equal to or greater than 2.75 to 1.0, but less than 3.00 to 1.0 1.625 % Equal to or greater than 2.50 to 1.0, but less than 2.75 to 1.0 1.500 % Equal to or greater than 2.25 to 1.0, but less than 2.50 to 1.0 1.375 % Equal to or greater than 2.00 to 1.0, but less than 2.25 to 1.0 1.250 % Equal to or greater than 1.50 to 1.0, but less than 2.00 to 1.0 1.125 % Less than 1.50 to 1.0 1.000 %

Restructuring and Realignment26

Restructuring and Realignment Events (Tables)	3 Months Ended
	Oct. 31, 2015
Restructuring And Related Activities [Abstract]
Accrued Liability Associated with Restructuring and Other Related Charges	At October 31, 2015, the accrued liability associated with restructuring and other related charges consisted of the following: Employee Decommissioning Costs and Other Total Accrued liability at August 1, 2015 $ 716 $ 169 $ 17 $ 902 Charges — — — — Payments — (51 ) — (51 ) Adjustment 3 1 — 4 Accrued liability at October 31, 2015 $ 719 $ 119 $ 17 $ 855
Schedule of Changes in Asset Retirement Obligation Associated with Realignment	The changes to the asset retirement obligation associated with realignment during the three months ended October 31, 2015 are as follows: Asset retirement obligation at August 1, 2015 $ 811 Charges 130 Payments (132 ) Asset retirement obligation at October 31, 2015 $ 809

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2015
Valves Incorporated of Texas
Business Acquisition [Line Items]
Acquisition date	May 1, 2015

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - shares	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Earnings Per Share [Abstract]
Number of dilutive shares related to stock-based awards	168,000	38,000
Number of shares potentially dilutive securities not included in the computation of diluted earnings per share	14,783	0

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 7,646	$ 8,723
Work in process	1,053	780
Supplies	1,016	525
Finished products	30,395	32,535
Less: reserve for inventory obsolescence	(518)	(481)
Inventories, net	$ 39,592	$ 42,082

Property, Plant, and Equipment

Property, Plant, and Equipment and Related Accumulated Depreciation and Amortization (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 135,789	$ 135,759
Less: accumulated depreciation and amortization	(64,328)	(61,936)
Property plant and equipment excluding construction in progress	71,461	73,823
Construction-in-progress	8,828	6,766
Property, plant and equipment, net	80,289	80,589
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	13,306	13,257
Buildings and improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	37,903	38,036
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	84,387	84,273
Leasehold improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 193	$ 193

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)		Oct. 01, 2015	Mar. 26, 2015	Dec. 25, 2014	Dec. 09, 2014	Feb. 25, 2014	Oct. 31, 2015	Oct. 31, 2014	Jul. 31, 2015	Jul. 31, 2014	Aug. 01, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense							$ 939,000	$ 436,000
Share based compensation, related tax benefits							333,000	$ 161,000
Unrecognized compensation costs related to outstanding stock awards							$ 5,400,000
Weighted average period for recognition of compensation cost							2 years 2 months 12 days
Vesting percentage of awards									134.00%	100.00%
Christopher T. Fraser
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage of awards							100.00%
Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum award, as a percentage of target award.										150.00%
Scenario, Forecast | Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum award, as a percentage of target award.									167.00%
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares outstanding, non vested											244,790
Awards vested							0
Target Award Shares									123,548	119,943
Vesting percentage of awards	[1]								134.00%	100.00%
Shares award vesting period							1 year
Weighted average per share grant date fair value							$ 17.51				$ 17.36
Grant Date Fair Value							21.04	$ 16.65
Weighted average grant date fair value of performance share awards forfeited							$ 19.63	$ 14.88
Performance Shares | Christopher T. Fraser
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of fully vested shares issued		14,000
Performance Shares | Christopher T. Fraser | Two Thousand Four Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares						10,000
Performance Shares | Christopher T. Fraser | Certain Organizational Objectives
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares						4,000
Performance Shares | Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares			21,173		103,499	127,315
Grant Date Fair Value			$ 25.85	$ 14.88	$ 17.81
Time Based Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares outstanding, non vested							156,500				82,688
Awards vested	[2]						11,147
Target Award Shares	[3]						85,147
Weighted average per share grant date fair value							$ 20.70				$ 19.66
Grant Date Fair Value	[3]						21.83
Weighted average grant date fair value of performance share awards forfeited	[4]						$ 25.85
Total fair value of shares vested							$ 474,000	$ 237,000
Time Based Shares | Christopher T. Fraser
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares							80,000
Shares award vesting period							5 years
[1]	The percentage vesting for performance share awards is currently estimated at 134% and 100% of the target award for the fiscal year 2015 and 2014 awards, respectively.
[2]	Includes 5,147 shares granted to non-employee directors for service for the three months ended October 31, 2015. The shares vest on the date of grant, and the Company recognizes compensation expense related to the awards over the respective service periods in accordance with GAAP. The vested amount includes 6,000 shares granted to Mr. Fraser.
[3]	Includes 5,147 shares granted to non-employee directors for service during the three month period ended October 31, 2015. Also includes 80,000 shares granted to Mr. Fraser which vest over a service period of five years beginning on August 1, 2015. The shares are to vest one third (1/3) at the end of years three, four and five of the service period.
[4]	Forfeitures include Series 1 awards that were granted in fiscal year 2015 to certain employees that were forfeited at the termination of their employment.

Summary of Performance Based St

Summary of Performance Based Stock Awards (Detail) - $ / shares		Mar. 26, 2015	Dec. 25, 2014	Dec. 09, 2014	Feb. 25, 2014	Oct. 31, 2015	Oct. 31, 2014	Jul. 31, 2015	Jul. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Percentage of Vesting								134.00%	100.00%
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares								123,548	119,943
Target Award Shares, forfeited	[1]			(1,124)	(7,372)
Grant Date Fair Value						$ 21.04	$ 16.65
Expected Percentage of Vesting	[2]							134.00%	100.00%
Shares Expected to Vest								165,368	119,943
Performance Shares | Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant Dates		Mar. 26, 2015						Dec. 9, 2014	Feb. 25, 2014
Target Award Shares		21,173		103,499	127,315
Grant Date Fair Value		$ 25.85	$ 14.88	$ 17.81
Grant Date Fair Value		Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017
[1]	Forfeitures include Series 1 awards that were granted in fiscal years 2015 and 2014 to certain employees that were forfeited at the termination of their employment.
[2]	The percentage vesting for performance share awards is currently estimated at 134% and 100% of the target award for the fiscal year 2015 and 2014 awards, respectively.

Summary of Performance Based 33

Summary of Performance Based Stock Awards (Parenthetical) (Detail)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected Percentage of Vesting	134.00%	100.00%

Summary of Activity for Time-Ba

Summary of Activity for Time-Based Stock Awards (Detail) - Time Based Shares	3 Months Ended
	Oct. 31, 2015$ / sharesshares
Non-vested Shares
Granted | shares	85,147	[1]
Vested | shares	(11,147)	[2]
Target Award Shares, forfeited | shares	(188)	[3]
Non-vested on October 31, 2015 | shares	156,500
Weighted-Average Grant-Date Fair Value
Granted | $ / shares	$ 21.83	[1]
Vested | $ / shares	21.59	[2]
Weighted average grant date fair value of performance share awards forfeited | $ / shares	25.85	[3]
Non-vested on October 31, 2015 | $ / shares	$ 20.70
[1]	Includes 5,147 shares granted to non-employee directors for service during the three month period ended October 31, 2015. Also includes 80,000 shares granted to Mr. Fraser which vest over a service period of five years beginning on August 1, 2015. The shares are to vest one third (1/3) at the end of years three, four and five of the service period.
[2]	Includes 5,147 shares granted to non-employee directors for service for the three months ended October 31, 2015. The shares vest on the date of grant, and the Company recognizes compensation expense related to the awards over the respective service periods in accordance with GAAP. The vested amount includes 6,000 shares granted to Mr. Fraser.
[3]	Forfeitures include Series 1 awards that were granted in fiscal year 2015 to certain employees that were forfeited at the termination of their employment.

Summary of Activity for Time-35

Summary of Activity for Time-Based Stock Awards (Parenthetical) (Detail)	3 Months Ended
	Oct. 31, 2015shares
Christopher T. Fraser
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock awards granted, vesting period, description	The shares are to vest one third (1/3) at the end of years three, four and five of the service period.
Time Based Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards granted	85,147	[1]
Time based stock awards Vested	11,147	[2]
Time Based Shares | Non-Employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards granted	5,147
Time Based Shares | Christopher T. Fraser
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards granted	80,000
Stock awards granted, vesting period	5 years
Time Based Awards | Non-Employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards Vested	5,147
Time Based Awards | Christopher T. Fraser
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards Vested	6,000
[1]	Includes 5,147 shares granted to non-employee directors for service during the three month period ended October 31, 2015. Also includes 80,000 shares granted to Mr. Fraser which vest over a service period of five years beginning on August 1, 2015. The shares are to vest one third (1/3) at the end of years three, four and five of the service period.
[2]	Includes 5,147 shares granted to non-employee directors for service for the three months ended October 31, 2015. The shares vest on the date of grant, and the Company recognizes compensation expense related to the awards over the respective service periods in accordance with GAAP. The vested amount includes 6,000 shares granted to Mr. Fraser.

Intangible Assets (Detail)

Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Oct. 31, 2015	Jul. 31, 2015
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	13 years 9 months 18 days	13 years 9 months 18 days
Original Cost	$ 26,864	$ 26,864
Accumulated Amortization	(5,244)	(4,745)
Foreign Currency Translation Adjustment	(119)	(17)
Carrying Amount	21,501	22,102
Total intangible assets not subject to amortization	14,458	14,458
Total intangible assets, net	35,959	36,560
Other chemicals-penta product registrations
Finite Lived Intangible Assets [Line Items]
Total intangible assets not subject to amortization	8,765	8,765
Other chemicals-related trade name and trademark
Finite Lived Intangible Assets [Line Items]
Total intangible assets not subject to amortization	2,885	2,885
Other chemicals-proprietary manufacturing process
Finite Lived Intangible Assets [Line Items]
Total intangible assets not subject to amortization	$ 2,808	$ 2,808
Electronic chemicals-related contracts
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	6 years 2 months 12 days	6 years 7 months 6 days
Original Cost	$ 2,204	$ 2,204
Accumulated Amortization	(905)	(839)
Foreign Currency Translation Adjustment	(99)	(87)
Carrying Amount	$ 1,200	$ 1,278
Electronic chemicals-related trademarks and patents
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	12 years	12 years
Original Cost	$ 117	$ 117
Accumulated Amortization	(81)	(77)
Carrying Amount	$ 36	$ 40
Electronic chemicals-value of product qualifications
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	14 years 1 month 6 days	14 years 1 month 6 days
Original Cost	$ 14,100	$ 14,100
Accumulated Amortization	(3,900)	(3,649)
Foreign Currency Translation Adjustment	(20)	70
Carrying Amount	$ 10,180	$ 10,521
Other chemicals-customer relationships
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	15 years	15 years
Original Cost	$ 10,291	$ 10,291
Accumulated Amortization	(343)	(172)
Carrying Amount	$ 9,948	$ 10,119
Other chemicals-other related contracts
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	5 years	5 years
Original Cost	$ 152	$ 152
Accumulated Amortization	(15)	(8)
Carrying Amount	$ 137	$ 144

Intangible Assets (Parenthetica

Intangible Assets (Parenthetical) (Detail)	3 Months Ended	12 Months Ended
	Oct. 31, 2015	Jul. 31, 2015
Electronic chemicals-related contracts | Minimum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	5 years	5 years
Electronic chemicals-related contracts | Maximum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	8 years	8 years
Electronic chemicals-related trademarks and patents | Minimum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	10 years	10 years
Electronic chemicals-related trademarks and patents | Maximum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	15 years	15 years
Electronic chemicals-value of product qualifications | Minimum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	5 years	5 years
Electronic chemicals-value of product qualifications | Maximum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	15 years	15 years
Other chemicals-customer relationships
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	15 years	15 years
Other chemicals-other related contracts
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	5 years	5 years

Intangible Asset - Additional I

Intangible Asset - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 499	$ 414

Dividends - Additional Informat

Dividends - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Dividends [Abstract]
Dividend paid	$ 351	$ 349
Dividend per share	$ 0.03	$ 0.03

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2015Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended
		Oct. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Total consolidated sales		$ 76,650	$ 90,779
Total consolidated depreciation and amortization		3,545	3,430
Total consolidated income from operations		7,320	2,819
Operating Segments
Segment Reporting Information [Line Items]
Total consolidated sales		76,650	90,750
Total consolidated depreciation and amortization	[1]	3,545	3,430
Total consolidated income from operations	[2]	11,038	6,706
Operating Segments | Electronic Chemicals
Segment Reporting Information [Line Items]
Total consolidated sales		66,082	66,323
Total consolidated depreciation and amortization	[1]	2,915	3,202
Total consolidated income from operations	[2]	7,274	4,121
Operating Segments | Other Chemicals
Segment Reporting Information [Line Items]
Total consolidated sales		10,568	24,427
Total consolidated depreciation and amortization	[1]	297	96
Total consolidated income from operations	[2]	3,764	2,585
Other
Segment Reporting Information [Line Items]
Total consolidated sales			29
Total consolidated depreciation and amortization	[1]	$ 333	$ 132
[1]	Depreciation and amortization excludes restructuring related depreciation.
[2]	Segment income from operations includes allocated corporate overhead expenses.

Overhead Expenses Allocated to

Overhead Expenses Allocated to Segment Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Total corporate overhead expense allocation	$ 3,271	$ 3,325
Operating Segments | Electronic Chemicals
Segment Reporting Information [Line Items]
Total corporate overhead expense allocation	2,481	2,391
Operating Segments | Other Chemicals
Segment Reporting Information [Line Items]
Total corporate overhead expense allocation	$ 790	$ 934

Reconciliation of Total Segment

Reconciliation of Total Segment to Consolidated Amounts (Detail) - USD ($) $ in Thousands		3 Months Ended
		Oct. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Net sales		$ 76,650	$ 90,779
Total segment income from operations		7,320	2,819
Other corporate expense	[1]	(3,122)	(1,314)
Restructuring and realignment charges		(596)	(2,573)
Interest expense, net		(152)	(803)
Other income (expense), net (Including gain on sale of creosote distribution business)		(17)	(28)
Income before income taxes		7,151	1,988
Operating Segments
Segment Reporting Information [Line Items]
Net sales		76,650	90,750
Total segment income from operations	[2]	$ 11,038	6,706
Other
Segment Reporting Information [Line Items]
Net sales			$ 29
[1]	Other corporate expense primarily represents employee stock-based compensation expenses and those expenses associated with the Company’s operation as a public company, such as board compensation, audit expense, fees related to the listing of our stock, and expenses incurred to pursue acquisition opportunities.
[2]	Segment income from operations includes allocated corporate overhead expenses.

Debt (Detail)

Debt (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jul. 31, 2015
Debt Instrument [Line Items]
Total debt	$ 51,500	$ 53,000
Long-term debt, net of current maturities	51,500	53,000
Senior Secured Debt | Revolving Loan Facility | Debt instrument, maturing on October 9, 2019
Debt Instrument [Line Items]
Total debt	$ 51,500	$ 53,000

Debt (Parenthetical) (Detail)

Debt (Parenthetical) (Detail) - Senior Secured Debt - Revolving Loan Facility - Debt instrument, maturing on October 9, 2019	3 Months Ended
	Oct. 31, 2015
Debt Instrument [Line Items]
Loan maturity date	Oct. 9, 2019
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate	1.00%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Oct. 09, 2014	Oct. 31, 2015	Oct. 31, 2014
Debt Instrument [Line Items]
Repayments of secured debt			$ 20,000,000
Line of credit facility, outstanding	$ 38,000,000
Fixed charge coverage ratio		150.00%
Ratio of funded debt to EBITDA maximum		325.00%
Current ratio		150.00%
Ratio of funded debt to EBITDA maximum, step-up during an acquisition period with lender's consent		350.00%
Revolving Loan Facility
Debt Instrument [Line Items]
Debt instrument variable rate		1.188%
Revolving Loan Facility | Maximum
Debt Instrument [Line Items]
Percentage of unused commitment fee on unused amount of commitments under revolving loan facility		0.30%
Revolving Loan Facility | Minimum
Debt Instrument [Line Items]
Percentage of unused commitment fee on unused amount of commitments under revolving loan facility		0.15%
Note Purchase Agreement
Debt Instrument [Line Items]
Repayments of secured debt	20,000,000
Fees and expenses to the second restated credit facility	666,000
Penalty for the early repayment of the note	288,000
Second Restated Credit Facility | Revolving Loan Facility | Senior Secured Debt
Debt Instrument [Line Items]
Maximum amount of revolving facility	150,000,000
Amount of cash available under contractual agreement with lender's approval	$ 100,000,000
Amount available under revolving facility before loan covenant restriction		$ 95,700,000
Line of credit facility, outstanding		51,500,000
Letters of credit outstanding amount		$ 2,800,000
Loan facility maturity date		Oct. 9, 2019
Amount available under revolving facility		$ 84,900,000

Ratio of Funded Debt to Ebitda

Ratio of Funded Debt to Ebitda (Detail)	3 Months Ended
	Oct. 31, 2015
Range One
Debt Instrument [Line Items]
Variable interest rate	1.875%
Range Two
Debt Instrument [Line Items]
Variable interest rate	1.625%
Range Three
Debt Instrument [Line Items]
Variable interest rate	1.50%
Range Four
Debt Instrument [Line Items]
Variable interest rate	1.375%
Range Five
Debt Instrument [Line Items]
Variable interest rate	1.25%
Range Six
Debt Instrument [Line Items]
Variable interest rate	1.125%
Range Seven
Debt Instrument [Line Items]
Variable interest rate	1.00%

Ratio of Funded Debt to Ebitd48

Ratio of Funded Debt to Ebitda (Parenthetical) (Detail)	Oct. 09, 2014
Range One | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	3
Range Two | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2.75
Range Two | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	3
Range Three | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2.50
Range Three | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2.75
Range Four | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2.25
Range Four | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2.50
Range Five | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2
Range Five | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2.25
Range Six | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	1.50
Range Six | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	2
Range Seven | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	1.50

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Income Tax Contingency [Line Items]
Effective income tax rate	35.80%	40.40%
Effective Income Tax Rate Excluding Restructuring Charges And Operational Results In Italy
Income Tax Contingency [Line Items]
Effective income tax rate	34.20%	33.70%

Litigation and Other Continge50

Litigation and Other Contingencies - Additional Information (Detail)	Jul. 31, 2012USD ($)	Oct. 31, 2015USD ($)Case$ / €	Oct. 31, 2015EUR (€)Case	Apr. 30, 2015USD ($)	Jul. 31, 2015USD ($)
Commitments And Contingencies [Line Items]
EPA estimated remediation cost		$ 22,000,000
Litigation Liability				$ 1,300,000
Star Lake Canal Superfund Site
Commitments And Contingencies [Line Items]
Reimbursement costs incurred by EPA	$ 500,000
Tax Assessment Pertaining to the 3 Year Period Ended July 31, 2011
Commitments And Contingencies [Line Items]
Foreign currency exchange rate, translation | $ / €		1.103
Liability for uncertain tax positions in Italy		$ 99,000			$ 57,000
Tax Assessment December Two Thousand And Seven
Commitments And Contingencies [Line Items]
Foreign currency exchange rate, translation | $ / €		1.103
Foreign
Commitments And Contingencies [Line Items]
Number of cases contested by subsidiary in the Provincial Tax Court in Milan, Italy | Case		2	2
Proposed adjustment from taxing authorities resulting additional income tax, interest and penalties		$ 890,000	€ 805,000
Foreign | Tax Assessment Pertaining to the 3 Year Period Ended July 31, 2011
Commitments And Contingencies [Line Items]
Proposed adjustment from taxing authorities resulting additional income tax, interest and penalties		$ 2,000,000	€ 1,800,000

Restructuring and Realignment51

Restructuring and Realignment Events - Accrued Liability Associated with Restructuring and Other Related Charges (Detail) $ in Thousands	3 Months Ended
	Oct. 31, 2015USD ($)
Restructuring Cost And Reserve [Line Items]
Accrued liability, Beginning balance	$ 902
Payments	(51)
Adjustment	4
Accrued liability, Ending balance	855
Employee costs
Restructuring Cost And Reserve [Line Items]
Accrued liability, Beginning balance	716
Adjustment	3
Accrued liability, Ending balance	719
Decommissioning and Environmental
Restructuring Cost And Reserve [Line Items]
Accrued liability, Beginning balance	169
Payments	(51)
Adjustment	1
Accrued liability, Ending balance	119
Other
Restructuring Cost And Reserve [Line Items]
Accrued liability, Beginning balance	17
Accrued liability, Ending balance	$ 17

Restructuring and Realignment52

Restructuring and Realignment Events - Additional Information (Detail) - USD ($)	3 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Apr. 30, 2015
Fremont And Milan Facilities
Restructuring Cost And Reserve [Line Items]
Accelerated depreciation	$ 105,000	$ 631,000
Bay Point Facility
Restructuring Cost And Reserve [Line Items]
Asset retirement obligation			$ 3,700,000
Hydrofluoric Acid Business
Restructuring Cost And Reserve [Line Items]
Accelerated depreciation	0	1,900,000
Severance Costs	$ 130,000	$ 38,000

Restructuring and Realignment53

Restructuring and Realignment Events - Schedule of Changes in Asset Retirement Obligation Associated with Realignment (Detail) $ in Thousands	3 Months Ended
	Oct. 31, 2015USD ($)
Restructuring And Related Activities [Abstract]
Asset retirement obligation at August 1, 2015	$ 811
Charges	130
Payments	(132)
Asset retirement obligation at October 31, 2015	$ 809