KMG Chemicals 10-Q 12 Dec 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Oct. 31, 2016	Dec. 07, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2016
Document Fiscal Year Focus	2,017
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		11,855,857

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Oct. 31, 2016	Jul. 31, 2016
Current assets
Cash and cash equivalents		$ 17,606	$ 12,428
Accounts receivable
Trade, net of allowances of $184 at October 31, 2016 and $210 at July 31, 2016		34,446	33,324
Other		5,101	5,572
Inventories, net		34,851	37,401
Prepaid expenses and other		6,438	6,623
Total current assets		98,442	95,348
Property, plant and equipment, net	[1]	77,706	79,739
Goodwill		22,039	22,228
Intangible assets, net		32,968	33,906
Restricted cash		1,000	1,000
Other assets, net		4,828	4,807
Total assets		236,983	237,028
Current liabilities
Accounts payable		27,534	26,418
Accrued liabilities		10,977	11,252
Employee incentive accrual		3,142	5,999
Total current liabilities		41,653	43,669
Long-term debt		33,300	35,800
Deferred tax liabilities		9,982	9,948
Other long-term liabilities		4,299	4,422
Total liabilities		89,234	93,839
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, 11,888,664 shares issued and outstanding at October 31, 2016 and 11,877,282 shares issued and outstanding at July 31, 2016		119	119
Additional paid-in capital		38,035	36,553
Accumulated other comprehensive loss		(14,358)	(12,047)
Retained earnings		123,953	118,564
Total stockholders’ equity		147,749	143,189
Total liabilities and stockholders’ equity		$ 236,983	$ 237,028
[1]	In fiscal year 2016, as part of the Company’s ongoing review of its Milan production facilities, the Company determined that certain other facilities had excess capacity sufficient to absorb the manufacturing operations of one of its Milan plants. As a result, the Company committed to sell properties with a total estimated fair value, less costs to sell, of approximately $4.3 million at July 31, 2016. Assets held for sale are included in Prepaid expenses and other in Current assets. The Company expects the sale of the properties to be completed during fiscal year 2017. The fair value measurements were based on recent valuation appraisals.

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016
Statement Of Financial Position [Abstract]
Allowances for accounts receivables	$ 184	$ 210
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	11,888,664	11,877,282
Common stock, shares outstanding	11,888,664	11,877,282

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Income Statement [Abstract]
Net sales	$ 76,495	$ 76,650
Cost of sales	46,811	47,390
Gross profit	29,684	29,260
Distribution expenses	9,102	10,129
Selling, general and administrative expenses	11,901	11,215
Restructuring charges		466
Realignment charges		130
Operating income	8,681	7,320
Other (expense) income
Interest expense, net	(177)	(152)
Other, net	230	(17)
Total other (expense) income, net	53	(169)
Income before income taxes	8,734	7,151
Provision for income taxes	(2,992)	(2,560)
Net income	$ 5,742	$ 4,591
Earnings per share
Net income per common share basic	$ 0.48	$ 0.39
Net income per common share diluted	$ 0.47	$ 0.39
Weighted average shares outstanding
Basic	11,880	11,697
Diluted	12,152	11,865

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 5,742	$ 4,591
Other comprehensive income
Foreign currency translation loss	(2,311)	(484)
Total comprehensive income	$ 3,431	$ 4,107

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Cash flows from operating activities
Net income	$ 5,742	$ 4,591
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	3,552	3,545
Non-cash restructuring and realignment charges		105
Stock-based compensation expense	1,425	939
Deferred income tax expense	188	86
Other	182	110
Changes in operating assets and liabilities
Accounts receivable — trade	(1,657)	1,099
Accounts receivable — other	1,240	160
Inventories	2,092	2,310
Other current and noncurrent assets	(153)	420
Accounts payable	1,359	(7,850)
Accrued liabilities and other	(3,064)	2,450
Net cash provided by operating activities	10,906	7,965
Cash flows from investing activities
Additions to property, plant and equipment	(2,634)	(3,616)
Proceeds — insurance claim	250
Net cash used in investing activities	(2,384)	(3,616)
Cash flows from financing activities
Payments under credit facility	(2,500)	(1,500)
Excess tax benefit from stock-based awards	(57)	10
Payment of dividends	(353)	(351)
Net cash used in financing activities	(2,910)	(1,841)
Effect of exchange rate changes on cash	(434)	373
Net increase in cash and cash equivalents	5,178	2,881
Cash and cash equivalents at beginning of period	12,428	7,517
Cash and cash equivalents at end of period	17,606	10,398
Supplemental disclosures of cash flow information
Cash paid for interest	128	151
Cash paid for income taxes, net	2,230	1,371
Supplemental disclosure of non-cash investing activities
Purchase of property, plant and equipment through accounts payable	$ 482	$ 137

Basis of Presentation

Basis of Presentation	3 Months Ended
	Oct. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The consolidated balance sheet as of July 31, 2016, 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, 2016. 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. In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016‑18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 is intended to address diversity in practice that exists in the classification and presentation of changes in restricted cash on the statement of cash flows The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. In August 2016, the FASB issued ASU No. 2016‑15, “Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 is intended to address how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the new guidance and does not believe this standard will have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments." ASU 2016-13 changes the impairment model for most financial assets and certain other instruments, including trade and other receivables, held-to-maturity debt securities and loans, and requires entities to use a new forward-looking expected loss model that will result in the earlier recognition of allowance for losses. In March 2016, the FASB issued ASU No. 2016-09, “Compensation—Stock Compensation (Topic 718), Improvements to Employee Share-based Payment Accounting.” ASU 2016-09 simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted. The Company is planning to early adopt the standard beginning in the second quarter of fiscal 2017, and the impact on its consolidated financial statements and footnote disclosures is not expected to be material. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which is intended to increase transparency and comparability of accounting for lease transactions. The ASU will require all leases with lease terms exceeding one year to be recognized on the balance sheet as lease assets and lease liabilities and will require both quantitative and qualitative disclosures regarding key information about leasing arrangements. Lessor accounting is largely unchanged. The guidance is effective beginning January 1, 2019 with an option to early adopt. The Company is evaluating whether to early adopt and the effect that ASU 2016-02 will have on its consolidated financial statements, and footnote disclosures. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes,” which requires deferred tax liabilities and assets to be classified as noncurrent in the Balance Sheet. The standard will be effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for financial statements that have not been previously issued. The ASU may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company adopted this ASU on a prospective basis in the second quarter of fiscal year 2016. This change in accounting principle did not have an impact on the Company’s results of operations, cash flow or stockholders’ equity. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, which requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The new guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB voted to delay the effective date of ASU 2014-09 by one year to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Adoption can occur using one of two prescribed transition methods. In March and April 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” and ASU 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing” which provide supplemental adoption guidance and clarification to ASC 2014-09. ASU 2016-08 and ASU 2016-10 must be adopted concurrently with the adoption of ASU 2014-09. The Company is currently evaluating the impact that these new standards will have on its consolidated financial statements and footnote disclosures.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Oct. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	2. 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 272,000 and 168,000 dilutive shares related to stock-based awards for the three months ended October 31, 2016 and 2015, respectively. Outstanding stock-based awards are not included in the computation of diluted earnings per share under the treasury stock method if the effect of including them would be anti-dilutive. There were 11,160 and 14,783 potentially dilutive securities that were not included for the three months ended October 31, 2016 and 2015, respectively.

Inventories

Inventories	3 Months Ended
	Oct. 31, 2016
Inventory Disclosure [Abstract]
Inventories	3. Inventories Inventories are summarized in the following table (in thousands): October 31, July 31, 2016 2016 Raw materials $ 7,764 $ 7,429 Work in process 963 1,195 Supplies 997 968 Finished products 25,855 28,463 Less: reserve for inventory obsolescence (728 ) (654 ) Inventories, net $ 34,851 $ 37,401

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Oct. 31, 2016
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	4. Property, Plant and Equipment Property, plant and equipment and related accumulated depreciation and amortization are summarized as follows (in thousands): October 31, July 31, 2016 2016 Land $ 9,655 $ 9,765 Buildings and improvements 38,564 39,974 Equipment 88,182 88,470 Leasehold improvements 2,460 2,460 138,861 140,669 Less: accumulated depreciation and amortization (67,414 ) (65,958 ) 71,447 74,711 Construction-in-progress 6,259 5,028 Property, plant and equipment, net (1) $ 77,706 $ 79,739 (1) In fiscal year 2016, as part of the Company’s ongoing review of its Milan production facilities, the Company determined that certain other facilities had excess capacity sufficient to absorb the manufacturing operations of one of its Milan plants. As a result, the Company committed to sell properties with a total estimated fair value, less costs to sell, of approximately $4.3 million at July 31, 2016. Assets held for sale are included in Prepaid expenses and other in Current assets. The Company expects the sale of the properties to be completed during fiscal year 2017. The fair value measurements were based on recent valuation appraisals.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Oct. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	5. 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 2016. The Company recognized stock-based compensation costs of approximately $1.4 million and $939,000 for the three months ended October 31, 2016 and 2015, respectively. The Company also recognized the related tax benefits of $502,000 and $333,000 for the three months ended October 31, 2016 and 2015, respectively. Stock‑based compensation costs are recorded under selling, general and administrative expenses in the condensed consolidated statements of income. As of October 31, 2016, the unrecognized compensation costs related to stock-based awards was approximately $8.5 million, which is expected to be recognized over a weighted-average period of 2.19 years. Performance Shares At August 1, 2016, there were 328,731 non-vested performance shares outstanding which reflected the number of shares under the awards expected to vest. No performance share awards vested during the three months ended October 31, 2016. As of October 31, 2016, the non-vested performance-based stock awards consisted of Series 1, Series 3 and Series 4 awards granted to certain executives and employees in fiscal years 2017, 2016 and 2015 as summarized below reflecting the target number of shares under the awards. Target Expected Shares Series Award Grant Date Measurement Percentage Expected Date of Grant Award Shares Fair Value Period Vesting (1) to Vest Fiscal Year 2017 Awards 10/21/2016 Series 3 14,000 $ 29.11 7/31/2017 100 % 14,000 10/21/2016 Series 4 88,674 $ 29.11 7/31/2019 100 % 88,674 Fiscal Year 2016 Awards 3/10/2016 Series 1 14,625 $ 21.89 10/31/2018 1/29/2016 Series 1 57,163 $ 21.80 10/31/2018 Forfeitures (2) (5,350 ) Total Series 1 66,438 100 % 66,438 1/19/2016 Series 3 82,938 $ 20.89 7/31/2020 100 % 82,938 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) (11,685 ) Total Series 1 112,987 163 % 184,310 (1) The percentage vesting for Series 1 performance share awards is currently estimated at 100% and 163% of the target award for the fiscal year 2016 and 2015 awards, respectively. The percentage vesting for Series 3 performance share awards is currently estimated at 100% of the target award for each of the fiscal year 2017 and 2016 awards. The percentage vesting for Series 4 performance share awards is currently estimated at 100% of the target award for the fiscal year 2017 awards. (2) Forfeitures include Series 1 awards that were granted in fiscal years 2016 and 2015 to certain employees that were forfeited at the termination of their employment. Series 1: For the fiscal year 2016 and 2015 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, 2016, and reflects the percentage of shares projected to vest for the respective awards at the end of their measurement periods. For the fiscal year 2016 and 2015 awards, shares vested may increase to a maximum of 200% and 167%, respectively, of the target award on achievement of maximum performance objectives. Series 3: In fiscal year 2017, Mr. Fraser was awarded (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. These awards are expected to vest at 100% of the target award. In fiscal year 2016, Mr. Fraser was awarded (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. These awards fully vested as of July 31, 2016 and 14,000 shares were issued on August 5, 2016. 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. In fiscal year 2016 Mr. Fraser was also awarded a performance-based Series 3 award for 82,938 shares of common stock (at target) having performance requirements related to cumulative revenue and total stockholder return. The measurement period for the fiscal year 2016 award begins on November 1, 2015 and the award vests one-third (1/3) at July 31, 2018, 2019 and 2020. The shares vested may increase to a maximum of 200% of the target award on achievement of maximum performance objectives. These awards are expected to vest at 100% of the target award. Series 4: For the fiscal year 2017 awards, each award includes two tranches. For the first tranche, vesting is subject to the achievement of an adjusted earnings before interest, taxes and depreciation and amortization (“EBITDA”) metric. For the second tranche, 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 4 awards, the expected percentage vesting is evaluated through October 31, 2016, and reflects the percentage of shares projected to vest at the end of the measurement period. For the fiscal year 2017 awards, the shares vested in the second tranche may increase to a maximum of 200% of the target award on achievement of maximum performance objectives. The weighted-average per share grant-date fair value of the target award shares for performance-based awards outstanding was $22.23 and $17.36 at October 31, 2016 and August 1, 2016, 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, 2016 and 2015 was $29.11 and $21.04, respectively. The weighted-average per share grant-date fair value of awards forfeited during the three months ended October 31, 2015 was $19.63. Time-Based Shares A summary of activity for time-based stock awards for the three months ended October 31, 2016 is presented below: Shares Weighted-Average Grant-Date Fair Value Non-vested on August 1, 2016 211,368 $ 21.28 Granted (1) 4,837 27.14 Vested (2) (11,587 ) 23.99 Non-vested on October 31, 2016 204,618 21.27 (1) Includes 4,837 shares granted to non-employee directors for service during the three month period ended October 31, 2016. (2) Includes 4,837 shares granted to non-employee directors for service for the three months ended October 31, 2016. 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. Includes 6,750 shares granted to certain employees and executives. The total fair value of time-based shares vested during the three months ended October 31, 2016 and 2015 was approximately $278,000 and $474,000, respectively.

Intangible Assets

Intangible Assets	3 Months Ended
	Oct. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	6. Intangible Assets Intangible assets are summarized as follows (in thousands): Number October 31, 2016 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 $ (1,170 ) $ (144 ) $ 890 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (91 ) — 26 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (4,836 ) (1,198 ) 8,066 Other chemicals-customer relationships (15 years) 15.0 10,291 (1,029 ) — 9,262 Other chemicals-Other related contracts (5 years) 5.0 152 (46 ) — 106 Electronic chemicals-Tolling/License Agreements (1-3 years) 1.4 328 (162 ) (6 ) 160 Total intangible assets subject to amortization 13.6 $ 27,192 $ (7,334 ) $ (1,348 ) $ 18,510 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 $ 32,968 Number July 31, 2016 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 $ (1,104 ) $ (117 ) $ 983 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (87 ) — 30 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (4,616 ) (831 ) 8,653 Other chemicals-customer relationships (15 years) 15.0 10,291 (858 ) — 9,433 Other chemicals-other related contracts (5 years) 5.0 152 (38 ) — 114 Electronic chemicals- Tolling/License Agreements (1-3 years) 1.4 328 (93 ) — 235 Total intangible assets subject to amortization 13.6 $ 27,192 $ (6,796 ) $ (948 ) $ 19,448 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 $ 33,906 Intangible assets subject to amortization are amortized over their estimated useful lives. Amortization expense was approximately $535,000 and $499,000 for the three month periods ended October 31, 2016 and 2015, respectively.

Dividends

Dividends	3 Months Ended
	Oct. 31, 2016
Dividends [Abstract]
Dividends	7. Dividends Dividends of approximately $0.35 million ($0.03 per share) and $0.35 million ($0.03 per share) were declared and paid in the first quarter of fiscal years 2016 and 2015, respectively. A dividend of $0.03 per share was approved by the Company’s board of directors on December 8, 2016 to be paid on January 5, 2017 to shareholders of record on December 23, 2016.

Segment Information

Segment Information	3 Months Ended
	Oct. 31, 2016
Segment Reporting [Abstract]
Segment Information	8. Segment Information The Company has two reportable segments — electronic chemicals and other chemicals. In conjunction with the acquisition of the industrial lubricants business, the Company’s management, including the chief executive officer, who is the chief operating decision maker, determined that the Company’s operations should be reported as the electronic chemicals and other chemicals business segments. Electronic Chemicals Other Chemicals Other Activities Consolidated (Amounts in thousands) Three months ended October 31, 2016 Net Sales $ 66,921 $ 9,574 $ — $ 76,495 Depreciation and amortization (1) $ 2,852 $ 287 $ 413 $ 3,552 Income from operations (2) $ 8,062 $ 3,681 $ (3,062 ) $ 8,681 Total other income (expense), net 53 Income before income taxes $ 8,734 Three months ended October 31, 2015 Net Sales $ 66,082 $ 10,568 $ — $ 76,650 Depreciation and amortization (1) $ 2,915 $ 297 $ 333 $ 3,545 Income from operations (2) $ 7,274 $ 3,764 $ (3,718 ) $ 7,320 Total other income (expense), net (169 ) Income before income taxes $ 7,151 (1) Segment depreciation excludes depreciation for restructuring and realignment. (2) Segment income from operations includes allocated corporate overhead expenses, but excludes restructuring and realignment charges, which are included in the Other Activities column.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt The Company’s debt as of October 31, 2016 and July 31, 2016 consisted of the following: October 31, July 31, 2016 2016 (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, 2016 $ 33,300 $ 35,800 On October 9, 2014, the Company entered into a new credit facility (the “Second Restated Credit Facility”) with Wells Fargo Bank, National Association, Bank of America, N.A., HSBC Bank USA, National Association and JPMorgan Chase Bank, N.A. 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. The maturity date for the Second Restated Credit Facility is October 9, 2019. At October 31, 2016, the Company had $33.3 million outstanding under the Second Restated Credit Facility. The maximum available borrowing capacity remaining under the Second Restated Credit Facility as of October 31, 2016 was $ 114.0 million, after giving effect to a reduction of $2.7 million for unused letters of credit. 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 bore interest at 1.534% as of October 31, 2016. 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, 2016, the Company was in compliance with all covenants of the Second Restated Credit Facility.

Income Taxes

Income Taxes	3 Months Ended
	Oct. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	10. 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, the Company analyzes 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 periods ended October 31, 2016 and 2015 was 34.3% and 35.8%, respectively.

Litigation and Other Contingenc

Litigation and Other Contingencies	3 Months Ended
	Oct. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Litigation and Other Contingencies	11. 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 or range of 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 EPA has listed the Star Lake Canal Superfund Site near Beaumont, Texas on the National Priorities List. The Company’s subsidiary, KMG-Bernuth, was notified in October 2014 that the EPA considered it to have potential liability under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, also known as “CERCLA,” in connection with this site by virtue of its relationship with certain alleged successor companies, including Idacon, Inc. (f/k/a Sonford Chemical Company). The EPA has estimated that the remediation will cost approximately $22.0 million. The Company and approximately seven other parties entered into an interim agreement with the EPA in September 2016 to complete a remedial design phase of the remediation of the site. 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. As of October 31, 2016, the liability remaining was $1.1 million. 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, 2016
Restructuring And Related Activities [Abstract]
Restructuring and Realignment Events	12. 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 was closed in fiscal year 2014, and production has been shifted primarily to the Company’s Hollister, California and Pueblo, Colorado facilities. The Company closed one of its facilities in Milan, Italy in December 2015, and shifted some production to facilities in France and the United Kingdom. Accelerated depreciation with respect to the closed facilities has been completed. At October 31, 2016, the accrued liability associated with restructuring and other related charges consisted of the following (in thousands): Employee Decommissioning Costs and Other Total Accrued liability at August 1, 2016 $ 721 $ 36 $ — $ 757 Payments — (113 ) (9 ) (122 ) Adjustment (317 ) 201 106 (10 ) Accrued liability at October 31, 2016 $ 404 $ 124 $ 97 $ 625 Total accelerated depreciation for the three months ended October 31, 2015 was $105,000. There was no accelerated depreciation recorded for the three months ended October 31, 2016. 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. Operations ceased in the third quarter of fiscal year 2015. The Company incurred total charges of $4.8 million for accelerated deprecation during fiscal year 2015. Additionally, the Company incurred certain employee costs of $0.8 million. All assets have been fully depreciated as of July 31, 2015. The changes to the asset retirement obligation associated with this realignment during the three months ended October 31, 2016 are as follows (in thousands): Asset retirement obligation at August 1, 2016 $ 168 Charges — Payments (3 ) Asset retirement obligation at October 31, 2016 $ 165 The Company incurred no charges for accelerated depreciation for the assets previously associated with the operations at Bay Point during the three month periods ended October 31, 2016 and 2015. The Company incurred certain employee costs of $130,000 during the three months ended October 31, 2015. There were no such employee costs during the three months ended October 31, 2016.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Oct. 31, 2016
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories are summarized in the following table (in thousands): October 31, July 31, 2016 2016 Raw materials $ 7,764 $ 7,429 Work in process 963 1,195 Supplies 997 968 Finished products 25,855 28,463 Less: reserve for inventory obsolescence (728 ) (654 ) Inventories, net $ 34,851 $ 37,401

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Oct. 31, 2016
Property Plant And Equipment [Abstract]
Property, Plant, and Equipment and Related Accumulated Depreciation and Amortization	Property, plant and equipment and related accumulated depreciation and amortization are summarized as follows (in thousands): October 31, July 31, 2016 2016 Land $ 9,655 $ 9,765 Buildings and improvements 38,564 39,974 Equipment 88,182 88,470 Leasehold improvements 2,460 2,460 138,861 140,669 Less: accumulated depreciation and amortization (67,414 ) (65,958 ) 71,447 74,711 Construction-in-progress 6,259 5,028 Property, plant and equipment, net (1) $ 77,706 $ 79,739 (1) In fiscal year 2016, as part of the Company’s ongoing review of its Milan production facilities, the Company determined that certain other facilities had excess capacity sufficient to absorb the manufacturing operations of one of its Milan plants. As a result, the Company committed to sell properties with a total estimated fair value, less costs to sell, of approximately $4.3 million at July 31, 2016. Assets held for sale are included in Prepaid expenses and other in Current assets. The Company expects the sale of the properties to be completed during fiscal year 2017. The fair value measurements were based on recent valuation appraisals.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Oct. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Performance Based Stock Awards Granted	Target Expected Shares Series Award Grant Date Measurement Percentage Expected Date of Grant Award Shares Fair Value Period Vesting (1) to Vest Fiscal Year 2017 Awards 10/21/2016 Series 3 14,000 $ 29.11 7/31/2017 100 % 14,000 10/21/2016 Series 4 88,674 $ 29.11 7/31/2019 100 % 88,674 Fiscal Year 2016 Awards 3/10/2016 Series 1 14,625 $ 21.89 10/31/2018 1/29/2016 Series 1 57,163 $ 21.80 10/31/2018 Forfeitures (2) (5,350 ) Total Series 1 66,438 100 % 66,438 1/19/2016 Series 3 82,938 $ 20.89 7/31/2020 100 % 82,938 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) (11,685 ) Total Series 1 112,987 163 % 184,310 (1) The percentage vesting for Series 1 performance share awards is currently estimated at 100% and 163% of the target award for the fiscal year 2016 and 2015 awards, respectively. The percentage vesting for Series 3 performance share awards is currently estimated at 100% of the target award for each of the fiscal year 2017 and 2016 awards. The percentage vesting for Series 4 performance share awards is currently estimated at 100% of the target award for the fiscal year 2017 awards. (2) Forfeitures include Series 1 awards that were granted in fiscal years 2016 and 2015 to certain employees that were forfeited at the termination of their employment.
Time Based Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Activity for Time-Based Stock Awards	A summary of activity for time-based stock awards for the three months ended October 31, 2016 is presented below: Shares Weighted-Average Grant-Date Fair Value Non-vested on August 1, 2016 211,368 $ 21.28 Granted (1) 4,837 27.14 Vested (2) (11,587 ) 23.99 Non-vested on October 31, 2016 204,618 21.27 (1) Includes 4,837 shares granted to non-employee directors for service during the three month period ended October 31, 2016. (2) Includes 4,837 shares granted to non-employee directors for service for the three months ended October 31, 2016. 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. Includes 6,750 shares granted to certain employees and executives.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Oct. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets are summarized as follows (in thousands): Number October 31, 2016 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 $ (1,170 ) $ (144 ) $ 890 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (91 ) — 26 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (4,836 ) (1,198 ) 8,066 Other chemicals-customer relationships (15 years) 15.0 10,291 (1,029 ) — 9,262 Other chemicals-Other related contracts (5 years) 5.0 152 (46 ) — 106 Electronic chemicals-Tolling/License Agreements (1-3 years) 1.4 328 (162 ) (6 ) 160 Total intangible assets subject to amortization 13.6 $ 27,192 $ (7,334 ) $ (1,348 ) $ 18,510 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 $ 32,968 Number July 31, 2016 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 $ (1,104 ) $ (117 ) $ 983 Electronic chemicals-related trademarks and patents (10-15 years) 12.0 117 (87 ) — 30 Electronic chemicals-value of product qualifications (5-15 years) 14.1 14,100 (4,616 ) (831 ) 8,653 Other chemicals-customer relationships (15 years) 15.0 10,291 (858 ) — 9,433 Other chemicals-other related contracts (5 years) 5.0 152 (38 ) — 114 Electronic chemicals- Tolling/License Agreements (1-3 years) 1.4 328 (93 ) — 235 Total intangible assets subject to amortization 13.6 $ 27,192 $ (6,796 ) $ (948 ) $ 19,448 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 $ 33,906

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Oct. 31, 2016
Segment Reporting [Abstract]
Segment Information	The Company has two reportable segments — electronic chemicals and other chemicals. In conjunction with the acquisition of the industrial lubricants business, the Company’s management, including the chief executive officer, who is the chief operating decision maker, determined that the Company’s operations should be reported as the electronic chemicals and other chemicals business segments. Electronic Chemicals Other Chemicals Other Activities Consolidated (Amounts in thousands) Three months ended October 31, 2016 Net Sales $ 66,921 $ 9,574 $ — $ 76,495 Depreciation and amortization (1) $ 2,852 $ 287 $ 413 $ 3,552 Income from operations (2) $ 8,062 $ 3,681 $ (3,062 ) $ 8,681 Total other income (expense), net 53 Income before income taxes $ 8,734 Three months ended October 31, 2015 Net Sales $ 66,082 $ 10,568 $ — $ 76,650 Depreciation and amortization (1) $ 2,915 $ 297 $ 333 $ 3,545 Income from operations (2) $ 7,274 $ 3,764 $ (3,718 ) $ 7,320 Total other income (expense), net (169 ) Income before income taxes $ 7,151 (1) Segment depreciation excludes depreciation for restructuring and realignment. (2) Segment income from operations includes allocated corporate overhead expenses, but excludes restructuring and realignment charges, which are included in the Other Activities column.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Debt	The Company’s debt as of October 31, 2016 and July 31, 2016 consisted of the following: October 31, July 31, 2016 2016 (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, 2016 $ 33,300 $ 35,800
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 Realignment25

Restructuring and Realignment Events (Tables)	3 Months Ended
	Oct. 31, 2016
Restructuring And Related Activities [Abstract]
Accrued Liability Associated with Restructuring and Other Related Charges	At October 31, 2016, the accrued liability associated with restructuring and other related charges consisted of the following (in thousands): Employee Decommissioning Costs and Other Total Accrued liability at August 1, 2016 $ 721 $ 36 $ — $ 757 Payments — (113 ) (9 ) (122 ) Adjustment (317 ) 201 106 (10 ) Accrued liability at October 31, 2016 $ 404 $ 124 $ 97 $ 625
Schedule of Changes in Asset Retirement Obligation Associated with Realignment	The changes to the asset retirement obligation associated with this realignment during the three months ended October 31, 2016 are as follows (in thousands): Asset retirement obligation at August 1, 2016 $ 168 Charges — Payments (3 ) Asset retirement obligation at October 31, 2016 $ 165

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - shares	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Earnings Per Share [Abstract]
Number of dilutive shares related to stock-based awards	272,000	168,000
Number of shares potentially dilutive securities not included in the computation of diluted earnings per share	11,160	14,783

Summary of Inventories (Detail)

Summary of Inventories (Detail) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 7,764	$ 7,429
Work in process	963	1,195
Supplies	997	968
Finished products	25,855	28,463
Less: reserve for inventory obsolescence	(728)	(654)
Inventories, net	$ 34,851	$ 37,401

Property, Plant, and Equipment

Property, Plant, and Equipment and Related Accumulated Depreciation and Amortization (Detail) - USD ($) $ in Thousands		Oct. 31, 2016	Jul. 31, 2016
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross		$ 138,861	$ 140,669
Less: accumulated depreciation and amortization		(67,414)	(65,958)
Property plant and equipment excluding construction in progress		71,447	74,711
Construction-in-progress		6,259	5,028
Property, plant and equipment, net	[1]	77,706	79,739
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross		9,655	9,765
Buildings and improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross		38,564	39,974
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross		88,182	88,470
Leasehold improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross		$ 2,460	$ 2,460
[1]	In fiscal year 2016, as part of the Company’s ongoing review of its Milan production facilities, the Company determined that certain other facilities had excess capacity sufficient to absorb the manufacturing operations of one of its Milan plants. As a result, the Company committed to sell properties with a total estimated fair value, less costs to sell, of approximately $4.3 million at July 31, 2016. Assets held for sale are included in Prepaid expenses and other in Current assets. The Company expects the sale of the properties to be completed during fiscal year 2017. The fair value measurements were based on recent valuation appraisals.

Property, Plant, and Equipmen29

Property, Plant, and Equipment and Related Accumulated Depreciation and Amortization (Parenthetical) (Detail) $ in Millions	Jul. 31, 2016USD ($)Facility
Property Plant And Equipment [Abstract]
Estimated fair value of property, less cost to sell | $	$ 4.3
Number of excess capacity manufacturing facilities | Facility	1

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail)		Oct. 21, 2016$ / sharesshares	Aug. 05, 2016shares	Mar. 10, 2016$ / sharesshares	Jan. 29, 2016$ / sharesshares	Jan. 19, 2016$ / sharesshares	Oct. 01, 2015shares	Mar. 26, 2015$ / sharesshares	Dec. 09, 2014$ / sharesshares	Oct. 31, 2016USD ($)Tranche$ / sharesshares	Oct. 31, 2015USD ($)$ / shares	Jul. 31, 2016$ / sharesshares	Jul. 31, 2015shares	Aug. 01, 2016$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense | $										$ 1,425,000	$ 939,000
Share based compensation, related tax benefits | $										502,000	$ 333,000
Unrecognized compensation costs related to outstanding stock awards | $										$ 8,500,000
Weighted average period for recognition of compensation cost										2 years 2 months 9 days
Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum award, as a percentage of target award												200.00%	167.00%
Expected percentage of vesting												100.00%	163.00%
Series Award Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum award, as a percentage of target award						200.00%
Expected percentage of vesting										100.00%		100.00%
Series Award Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected percentage of vesting										100.00%
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares outstanding, non vested														328,731
Awards vested										0
Target Award Shares												66,438	112,987
Shares award vesting period										1 year		1 year	1 year
Expected percentage of vesting												100.00%
Weighted average per share grant date fair value | $ / shares										$ 22.23				$ 17.36
Grant Date Fair Value | $ / shares										$ 29.11	$ 21.04
Weighted average per share grant date fair value of performance share awards forfeited | $ / shares											$ 19.63
Performance Shares | Christopher T. Fraser
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of fully vested shares issued			14,000				14,000
Performance Shares | Christopher T. Fraser | Two Thousand Four Long Term Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares										10,000		10,000	10,000
Performance Shares | Christopher T. Fraser | Certain Organizational Objectives | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares										4,000		4,000	4,000
Performance Shares | Christopher T. Fraser | Cumulative Revenue and Stockholder Return
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares						82,938
Performance Shares | Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares				14,625	57,163			21,173	103,499
Expected percentage of vesting												100.00%	163.00%
Grant Date Fair Value | $ / shares				$ 21.89	$ 21.80			$ 25.85	$ 17.81
Performance Shares | Series Award Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares		14,000				82,938
Expected percentage of vesting		100.00%				100.00%				100.00%
Grant Date Fair Value | $ / shares		$ 29.11				$ 20.89
Performance Shares | Series Award Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares		88,674
Expected percentage of vesting		100.00%
Number of tranches | Tranche										2
Grant Date Fair Value | $ / shares		$ 29.11
Performance Shares | Series Award Four | Second Tranche
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum award, as a percentage of target award										200.00%
Time Based Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares outstanding, non vested										204,618		211,368
Awards vested	[1]									11,587
Target Award Shares	[2]									4,837
Weighted average per share grant date fair value | $ / shares										$ 21.27		$ 21.28
Grant Date Fair Value | $ / shares	[2]									$ 27.14
Total fair value of shares vested | $										$ 278,000	$ 474,000
[1]	Includes 4,837 shares granted to non-employee directors for service for the three months ended October 31, 2016. 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. Includes 6,750 shares granted to certain employees and executives.
[2]	Includes 4,837 shares granted to non-employee directors for service during the three month period ended October 31, 2016.

Summary of Performance Based St

Summary of Performance Based Stock Awards (Detail) - $ / shares		Oct. 21, 2016	Mar. 10, 2016	Jan. 29, 2016	Jan. 19, 2016	Mar. 26, 2015	Dec. 09, 2014	Oct. 31, 2016	Oct. 31, 2015	Jul. 31, 2016	Jul. 31, 2015
Series Award Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Percentage of Vesting								100.00%		100.00%
Series Award Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Percentage of Vesting								100.00%
Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Percentage of Vesting										100.00%	163.00%
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares										66,438	112,987
Target Award Shares, forfeited	[1]			(5,350)			(11,685)
Grant Date Fair Value								$ 29.11	$ 21.04
Expected Percentage of Vesting										100.00%
Shares Expected to Vest	[2]									66,438	184,310
Performance Shares | Series Award Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares		14,000			82,938
Grant Date Fair Value		$ 29.11			$ 20.89
Measurement Period Ending		Jul. 31, 2017			Jul. 31, 2020
Expected Percentage of Vesting		100.00%			100.00%			100.00%
Shares Expected to Vest	[2]	14,000			82,938
Grant Dates		Oct. 21, 2016			Jan. 19, 2016
Performance Shares | Series Award Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares		88,674
Grant Date Fair Value		$ 29.11
Measurement Period Ending		Jul. 31, 2019
Expected Percentage of Vesting		100.00%
Shares Expected to Vest	[2]	88,674
Grant Dates		Oct. 21, 2016
Performance Shares | Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target Award Shares			14,625	57,163		21,173	103,499
Grant Date Fair Value			$ 21.89	$ 21.80		$ 25.85	$ 17.81
Measurement Period Ending			Oct. 31, 2018	Oct. 31, 2018		Jul. 31, 2017	Jul. 31, 2017
Expected Percentage of Vesting										100.00%	163.00%
Grant Dates			Mar. 10, 2016	Jan. 29, 2016		Mar. 26, 2015	Dec. 9, 2014
[1]	Forfeitures include Series 1 awards that were granted in fiscal years 2016 and 2015 to certain employees that were forfeited at the termination of their employment.
[2]	The percentage vesting for Series 1 performance share awards is currently estimated at 100% and 163% of the target award for the fiscal year 2016 and 2015 awards, respectively. The percentage vesting for Series 3 performance share awards is currently estimated at 100% of the target award for each of the fiscal year 2017 and 2016 awards. The percentage vesting for Series 4 performance share awards is currently estimated at 100% of the target award for the fiscal year 2017 awards.

Summary of Performance Based 32

Summary of Performance Based Stock Awards (Parenthetical) (Detail)	3 Months Ended	12 Months Ended
	Oct. 31, 2016	Jul. 31, 2016	Jul. 31, 2015
Series Award One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Percentage of Vesting		100.00%	163.00%
Series Award Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Percentage of Vesting	100.00%	100.00%
Series Award Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Percentage of Vesting	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, 2016$ / sharesshares
Non-vested Shares
Beginning balance, Non-vested | shares	211,368
Granted | shares	4,837	[1]
Vested | shares	(11,587)	[2]
Ending balance, Non-vested | shares	204,618
Weighted-Average Grant-Date Fair Value
Beginning balance, Non-vested | $ / shares	$ 21.28
Granted | $ / shares	27.14	[1]
Vested | $ / shares	23.99	[2]
Ending balance, Non-vested | $ / shares	$ 21.27
[1]	Includes 4,837 shares granted to non-employee directors for service during the three month period ended October 31, 2016.
[2]	Includes 4,837 shares granted to non-employee directors for service for the three months ended October 31, 2016. 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. Includes 6,750 shares granted to certain employees and executives.

Summary of Activity for Time-34

Summary of Activity for Time-Based Stock Awards (Parenthetical) (Detail) - Time Based Shares	3 Months Ended
	Oct. 31, 2016shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards granted	4,837	[1]
Time based stock awards Vested	11,587	[2]
Non-Employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards granted	4,837
Time based stock awards Vested	4,837
Employees and Executives
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time based stock awards Vested	6,750
[1]	Includes 4,837 shares granted to non-employee directors for service during the three month period ended October 31, 2016.
[2]	Includes 4,837 shares granted to non-employee directors for service for the three months ended October 31, 2016. 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. Includes 6,750 shares granted to certain employees and executives.

Intangible Assets (Detail)

Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Oct. 31, 2016	Jul. 31, 2016
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	13 years 7 months 6 days	13 years 7 months 6 days
Original Cost	$ 27,192	$ 27,192
Accumulated Amortization	(7,334)	(6,796)
Foreign Currency Translation Adjustment	(1,348)	(948)
Carrying Amount	18,510	19,448
Total intangible assets not subject to amortization	14,458	14,458
Total intangible assets, net	32,968	33,906
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 7 months 6 days	6 years 7 months 6 days
Original Cost	$ 2,204	$ 2,204
Accumulated Amortization	(1,170)	(1,104)
Foreign Currency Translation Adjustment	(144)	(117)
Carrying Amount	$ 890	$ 983
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	(91)	(87)
Carrying Amount	$ 26	$ 30
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	(4,836)	(4,616)
Foreign Currency Translation Adjustment	(1,198)	(831)
Carrying Amount	$ 8,066	$ 8,653
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	(1,029)	(858)
Carrying Amount	$ 9,262	$ 9,433
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	(46)	(38)
Carrying Amount	$ 106	$ 114
Electronic chemicals - Tolling/License Agreements
Finite Lived Intangible Assets [Line Items]
Number of Years Weighted Average Amortization Period	1 year 4 months 24 days	1 year 4 months 24 days
Original Cost	$ 328	$ 328
Accumulated Amortization	(162)	(93)
Foreign Currency Translation Adjustment	(6)
Carrying Amount	$ 160	$ 235

Intangible Assets (Parenthetica

Intangible Assets (Parenthetical) (Detail)	3 Months Ended	12 Months Ended
	Oct. 31, 2016	Jul. 31, 2016
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
Electronic chemicals - Tolling/License Agreements | Minimum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	1 year	1 year
Electronic chemicals - Tolling/License Agreements | Maximum
Finite Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	3 years	3 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 535	$ 499

Dividends - Additional Informat

Dividends - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Dec. 08, 2016
Dividends Payable [Line Items]
Dividend paid	$ 353	$ 351
Dividend per share	$ 0.03	$ 0.03
Dividends payable declared date	Dec. 8, 2016
Dividends payable payment date	Jan. 5, 2017
Dividends payable record date	Dec. 23, 2016
Subsequent Event
Dividends Payable [Line Items]
Dividends payable amount per share			$ 0.03

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2016Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended
		Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Net sales		$ 76,495	$ 76,650
Depreciation and amortization		3,552	3,545
Income from operations		8,681	7,320
Total other income (expense), net		53	(169)
Income before income taxes		8,734	7,151
Operating Segments
Segment Reporting Information [Line Items]
Net sales		76,495	76,650
Depreciation and amortization	[1]	3,552	3,545
Income from operations	[2]	8,681	7,320
Total other income (expense), net		53	(169)
Income before income taxes		8,734	7,151
Operating Segments | Electronic Chemicals
Segment Reporting Information [Line Items]
Net sales		66,921	66,082
Depreciation and amortization	[1]	2,852	2,915
Income from operations	[2]	8,062	7,274
Operating Segments | Other Chemicals
Segment Reporting Information [Line Items]
Net sales		9,574	10,568
Depreciation and amortization	[1]	287	297
Income from operations	[2]	3,681	3,764
Other Activities
Segment Reporting Information [Line Items]
Depreciation and amortization	[1]	413	333
Income from operations	[2]	$ (3,062)	$ (3,718)
[1]	Segment depreciation excludes depreciation for restructuring and realignment.
[2]	Segment income from operations includes allocated corporate overhead expenses, but excludes restructuring and realignment charges, which are included in the Other Activities column.

Debt (Detail)

Debt (Detail) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016
Senior Secured Debt | Revolving Loan Facility | Debt instrument, maturing on October 9, 2019
Debt Instrument [Line Items]
Total debt	$ 33,300	$ 35,800

Debt (Parenthetical) (Detail)

Debt (Parenthetical) (Detail) - Senior Secured Debt - Revolving Loan Facility - Debt instrument, maturing on October 9, 2019	3 Months Ended
	Oct. 31, 2016
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 ($)	3 Months Ended
	Oct. 31, 2016	Oct. 09, 2014
Debt Instrument [Line Items]
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]
Line of credit facility, outstanding	$ 33,300,000
Maximum available amount of remaining revolving facility net of unused letter of credit	114,000,000
Reduction credit capacity due to unused letters of credit	$ 2,700,000
Debt instrument variable rate	1.534%
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%
Revolving Loan Facility | Second Restated Credit 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
Loan facility maturity date	Oct. 9, 2019

Ratio of Funded Debt to Ebitda

Ratio of Funded Debt to Ebitda (Detail)	3 Months Ended
	Oct. 31, 2016
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 Ebitd45

Ratio of Funded Debt to Ebitda (Parenthetical) (Detail)	Oct. 09, 2014
Range One | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	300.00%
Range Two | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	275.00%
Range Two | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	300.00%
Range Three | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	250.00%
Range Three | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	275.00%
Range Four | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	225.00%
Range Four | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	250.00%
Range Five | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	200.00%
Range Five | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	225.00%
Range Six | Minimum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	150.00%
Range Six | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	200.00%
Range Seven | Maximum
Debt Instrument [Line Items]
Ratio of Funded Debt to EBITDA	150.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	34.30%	35.80%

Litigation and Other Continge47

Litigation and Other Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2016	Apr. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
EPA estimated remediation cost	$ 22
Litigation Liability		$ 1.3
Remaining litigation liability	$ 1.1

Restructuring and Realignment48

Restructuring and Realignment Events - Accrued Liability Associated with Restructuring and Other Related Charges (Detail) $ in Thousands	3 Months Ended
	Oct. 31, 2016USD ($)
Restructuring Cost And Reserve [Line Items]
Accrued liability, Beginning balance	$ 757
Payments	(122)
Adjustment	(10)
Accrued liability, Ending balance	625
Employee costs
Restructuring Cost And Reserve [Line Items]
Accrued liability, Beginning balance	721
Adjustment	(317)
Accrued liability, Ending balance	404
Decommissioning and Environmental
Restructuring Cost And Reserve [Line Items]
Accrued liability, Beginning balance	36
Payments	(113)
Adjustment	201
Accrued liability, Ending balance	124
Other
Restructuring Cost And Reserve [Line Items]
Payments	(9)
Adjustment	106
Accrued liability, Ending balance	$ 97

Restructuring and Realignment49

Restructuring and Realignment Events - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Jul. 31, 2015
Restructuring Cost And Reserve [Line Items]
Accelerated depreciation	$ 0	$ 105,000
Hydrofluoric Acid Business
Restructuring Cost And Reserve [Line Items]
Accelerated depreciation			$ 4,800,000
Severance Costs			$ 800,000
Bay Point Facility
Restructuring Cost And Reserve [Line Items]
Accelerated depreciation	0	0
Severance Costs	$ 0	$ 130,000

Restructuring and Realignment50

Restructuring and Realignment Events - Schedule of Changes in Asset Retirement Obligation Associated with Realignment (Detail) $ in Thousands	3 Months Ended
	Oct. 31, 2016USD ($)
Restructuring And Related Activities [Abstract]
Asset retirement obligation, Beginning balance	$ 168
Payments	(3)
Asset retirement obligation, Ending balance	$ 165