Synergetics Usa Inactive 10-Q10 Dec 142015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Oct. 31, 2014	Dec. 05, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'SYNERGETICS USA INC	'
Entity Central Index Key	'0000836429	'
Current Fiscal Year End Date	'--07-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	25,363,693
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Oct-14	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified	Oct. 31, 2014	Jul. 31, 2014
Current assets	'	'
Cash and cash equivalents	$20,440	$15,443
Accounts receivable, net of allowance for doubtful accounts of $700 and $722, respectively	12,134	14,641
Inventories	15,184	15,134
Prepaid expenses	1,184	1,223
Deferred income taxes	2,041	2,042
Total current assets	50,983	48,483
Property and equipment, net	8,640	8,785
Intangible and other assets	'	'
Goodwill	12,648	12,738
Other intangible assets, net	11,674	11,911
Deferred income taxes	1,219	1,219
Patents, net	1,425	1,472
Cash value of life insurance	107	107
Total assets	86,696	84,715
Current liabilities	'	'
Accounts payable	3,282	2,530
Accrued expenses	3,938	2,845
Income taxes payable	419	386
Deferred revenue	1,288	1,288
Total current liabilities	8,927	7,049
Long-Term liabilities	'	'
Deferred revenue	12,920	13,242
Total long-term liabilities	12,920	13,242
Total liabilities	21,847	20,291
Commitments and contingencies (Note 9)	'	'
Stockholders' equity	'	'
Common stock at October 31, 2014 and July 31, 2014, $0.001 par value, 50,000,000 shares authorized; 25,363,693 and 25,364,608 shares issued and outstanding, respectively	25	25
Additional paid-in capital	28,757	28,594
Retained earnings	36,927	36,160
Accumulated other comprehensive loss:	'	'
Foreign currency translation adjustment	-860	-355
Total stockholders' equity	64,849	64,424
Total liabilities and stockholders' equity	$86,696	$84,715

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, except Share data, unless otherwise specified	Oct. 31, 2014	Jul. 31, 2014
Current assets	'	'
Accounts receivable, allowance for doubtful accounts	$700	$722
Stockholders' equity	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	25,363,693	25,364,608
Common stock, shares outstanding (in shares)	25,363,693	25,364,608

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) [Abstract]	'	'
Net sales	$16,646	$15,530
Cost of sales	7,376	6,606
Gross profit	9,270	8,924
Operating expenses	'	'
Research and development	1,199	1,197
Sales and marketing	3,696	3,576
Medical device excise tax	128	125
Exit costs	62	0
General and administrative	3,028	2,635
Total operating expenses	8,113	7,533
Operating income	1,157	1,391
Other income	'	'
Investment income	1	4
Total other income	1	4
Income from operations before provision for income taxes	1,158	1,395
Provision for income taxes	390	460
Net income	768	935
Earnings per share:	'	'
Basic earnings per share (in dollars per share)	$0.03	$0.04
Diluted earnings per share (in dollars per share)	$0.03	$0.04
Basic weighted average common shares outstanding (in shares)	25,339,983	25,294,020
Diluted weighted average common shares outstanding (in shares)	25,390,181	25,380,940
Net income	768	935
Foreign currency translation adjustment	-505	175
Comprehensive income	$263	$1,110

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Cash Flows from Operating Activities	'	'
Net income	$768	$935
Adjustments to reconcile net income to net cash provided by operating activities	'	'
Depreciation	309	266
Amortization	248	180
Provision for doubtful accounts receivable	0	56
Stock-based compensation	188	184
Deferred income taxes	0	92
(Increase) decrease in:	'	'
Accounts receivable	2,315	1,629
Inventories	-123	-1,152
Prepaid expenses	-1	-236
Increase (decrease) in:	'	'
Accounts payable	764	-135
Accrued expenses	1,055	-267
Deferred revenue	-322	-322
Income taxes payable	39	300
Net cash provided by operating activities	5,240	1,530
Cash Flows from Investing Activities	'	'
Purchase of property and equipment	-178	-302
Acquisition of patents and other intangibles	-15	-82
Net cash used in investing activities	-193	-384
Cash Flows from Financing Activities	'	'
Proceeds from the issuance of common stock	28	0
Tax benefit associated with the exercise of non-qualified stock options	16	0
Net cash provided by financing activities	44	0
Foreign exchange rate effect on cash and cash equivalents	-94	-79
Net increase in cash and cash equivalents	4,997	1,067
Cash and cash equivalents	'	'
Beginning	15,443	12,470
Ending	$20,440	$13,537

General

General	3 Months Ended
General	Oct. 31, 2014
General [Abstract]	'
General	'
	Note 1. General

	Nature of business: Synergetics USA, Inc. (“Synergetics USA” or the “Company”) is a Delaware corporation incorporated on June 2, 2005, in connection with the reverse merger of Synergetics, Inc. (“Synergetics”) and Valley Forge Scientific Corp. (“Valley Forge”) and the subsequent reincorporation of Valley Forge (the predecessor to Synergetics USA) in Delaware. Synergetics USA is a medical device company. Through continuous improvement and development of its people, the Company’s mission is to design, manufacture and market innovative surgical devices, surgical equipment and consumables of the highest quality in order to assist and enable surgeons who perform surgery around the world to provide a better quality of life for their patients. The Company’s primary focus is on the surgical disciplines of ophthalmology and neurosurgery. Its distribution channels include a combination of direct and independent vitreoretinal sales organizations and important strategic alliances with market leaders. The Company’s product lines focus on precision engineered, disposable and reusable devices, surgical equipment, procedural kits and the delivery of various energy modalities for the performance of surgery including: (i) laser energy, (ii) ultrasonic energy, (iii) radio frequency energy for electrosurgery and lesion generation and (iv) visible light energy for illumination, and where applicable, simultaneous infusion (irrigation) of fluids into the operative field. The Company is located in O’Fallon, Missouri, King of Prussia, Pennsylvania, California and Corby, United Kingdom. During the ordinary course of its business, the Company grants unsecured credit to its domestic and international customers.

	Basis of presentation: The unaudited condensed consolidated financial statements include the accounts of Synergetics USA and its wholly owned subsidiaries: Synergetics, Synergetics Delaware, Inc. and Synergetics IP, Inc. All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for the three months ended October 31, 2014, are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2015. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended July 31, 2014, and notes thereto included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on October 14, 2014 (the “Annual Report”).

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Oct. 31, 2014
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Note 2. Summary of Significant Accounting Policies

	The Company’s significant accounting policies are disclosed in the Annual Report. In the first three months of fiscal 2015, no significant accounting policies were changed.

Exit_Costs

Exit Costs	3 Months Ended
Exit Costs	Oct. 31, 2014
Exit Costs [Abstract]	'
Exit Costs	'
	Note 3. Exit Costs

	On October 1, 2013, the Company announced plans to close its King of Prussia, Pennsylvania facility and consolidate the manufacturing operations into its existing facility in O’Fallon, Missouri. The Company expects to complete the closure by mid-fiscal 2015. Costs are recognized in “Exit costs” in the consolidated statements of income and comprehensive income. As of October 31, 2014, the Company had a current liability of $48,000 for employee termination benefits in accrued expenses.

		Three Months Ended					Cumulative		Total
	(dollars in thousands)	October 31,					as of		Expected
		2014			2013		October 31,		to be
		2014			2013		2014		Incurred
	Employee termination costs	$	--		$	--	$	615	$	925
	Other associated costs		62			--		129		239
		$	62		$	--	$	744	$	1,164

		Termination Costs

	Exit liabilities at August 1, 2014	$	112
	Additions		--
	Payments		(64	)
	Exit liabilities at October 31, 2014	$	48

Acquisitions

Acquisitions	3 Months Ended
Acquisitions	Oct. 31, 2014
Acquisitions [Abstract]	'
Acquisitions	'
	Note 4. Acquisitions

	On May 3, 2014, the Company acquired a private, original equipment manufacturing company incorporated in the United States for net cash consideration of $1.4 million.

	The Company has allocated the purchase price to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair value at the date of acquisition resulting in the recognition of $0.8 million of intellectual property and $0.4 million of goodwill, including the impact of deferred income taxes. The results of operations for the acquired company have been included in the Consolidated Statements of Income from the date of acquisition.

	No supplemental pro-forma information is presented for the acquisition due to the immaterial effect of the acquisition on the Company’s financial statements.

OEM_Partner_Agreements

OEM Partner Agreements	3 Months Ended
	Oct. 31, 2014
OEM Partner Agreements [Abstract]	'
OEM Partner Agreements	'
	Note 5. OEM Partner Agreements

	The Company sells all of its generators and a majority of its neurosurgery instruments and accessories to two U.S.-based national and international original equipment manufacturer (“OEM”) partners as described below:

	Codman & Shurtleff, Inc. ("Codman")

	In the neurosurgical market, the bipolar electrosurgical system manufactured by Valley Forge prior to the merger has been sold for over 30 years through a series of distribution agreements with Codman, an affiliate of Johnson & Johnson. On April 2, 2009, the Company executed a three-year distribution agreement with Codman for the continued distribution by Codman of certain bipolar generators and related disposables and accessories, effective January 1, 2009. In addition, the Company entered into a new, three-year license agreement, which provides for the continued licensing of the Company’s Malis^® trademark to Codman for use with certain Codman products, including those covered by the distribution agreement. Both agreements expired on December 31, 2011 and have been renewed for three years. In December 2010, Codman elected to exercise its option of exclusive distribution with respect to the bipolar generators and related disposables and accessories. The Codman agreement is scheduled for renewal on or before December 31, 2014. The agreement is expected to be renewed by the parties.

	On November 16, 2009, the Company announced the signing of an addendum to its agreement with Codman. Under the terms of the revised agreement, Codman has the exclusive right to market and distribute the Company’s Malis^® branded disposable bipolar forceps produced by Synergetics. Codman began distribution of the disposable bipolar forceps on December 1, 2009, domestically, and on February 1, 2010, internationally.

	Total sales to Codman and its respective percent of the Company’s net sales in the three months ended October 31, 2014 and 2013, including the sales of generators, accessories, disposable bipolar forceps and cord tubing, were as follows:

		Three Months Ended			Three Months Ended
		31-Oct-14			31-Oct-13
	Net Sales	$	3,798		$	4,101
	Percent of net sales		22.8	%		26.4	%

	Stryker Corporation (“Stryker”)

	The Company supplies a multi-channel ablation generator, used for minimally invasive pain treatment, to Stryker pursuant to a supply and distribution agreement dated as of October 25, 2004, as amended. The agreement expires on June 30, 2015.

	On March 31, 2010, the Company entered into a supply agreement with Stryker pursuant to which the Company agreed to supply Stryker with disposable ultrasonic aspirator instrument tips and certain other consumable products used in conjunction with Stryker’s ultrasonic aspirator console and handpieces. The agreement expires on March 31, 2016.

	Total sales to Stryker and its respective percent of the Company’s net sales in the three months ended October 31, 2014, and 2013, including the sales of pain control generators, disposable ultrasonic instrument tips and accessories, were as follows:

		Three Months Ended			Three Months Ended
		31-Oct-14			31-Oct-13
	Net Sales	$	2,981		$	2,162
	Percent of net sales		17.9	%		13.9	%

	No other customer comprises more than 10 percent of sales in any given quarter.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Oct. 31, 2014
Stock-Based Compensation [Abstract]	'
Stock-Based Compensation	'
	Note 6. Stock-Based Compensation

	Stock Option Plans

	The following table provides information about stock-based awards outstanding at October 31, 2014:

					Weighted Average		Weighted Average
		Shares			Exercise Price		Fair Value
	Options outstanding beginning of period		815,162		$	4.25	$	3.27
	For the period August 1, 2014 through October 31, 2014
	Granted		--			--		--
	Forfeited		--			--		--
	Exercised		(22,500	)	$	1.27	$	1.02
	Options outstanding, end of period		792,662		$	4.33	$	3.34
	Options exercisable, end of period		558,915		$	4.17	$	3.23

	There were no options granted in the first quarter of fiscal 2015. Each independent director receives an option to purchase 10,000 shares of the Company’s Common Stock each year in which he or she is elected, appointed, or continues to serve as a director pursuant to the Amended and Restated 2005 Non-Employee Directors’ Stock Option Plan. These options vest pro-ratably on a quarterly basis over the next year of service on the Board. These options also vest upon a change of control event. The Company recorded $39,000 and $43,000 of compensation expense for the three months ended October 31, 2014 and 2013, respectively, with respect to the directors’ options.

	During the second quarter of fiscal 2014, there were options to purchase 57,500 shares of Common Stock granted to the officers and employees of the Company. These options were granted in conjunction with the Company’s annual review of compensation as of August 1, 2013 and vest on a quarterly basis over the next four years of service. The Company recorded $10,000 of compensation expense for the three months ended October 31, 2014, related to these options. In addition, the Company recorded $56,000 and $48,000 of compensation expense for the three months ended October 31, 2014 and 2013, respectively, for previously granted options.

	The Company expects to issue new shares as options are exercised. As of October 31, 2014, the future compensation cost expected to be recognized for currently outstanding stock options is approximately $219,000 for the remainder of fiscal 2015, $238,000 in fiscal 2016, $119,000 in fiscal 2017 and $17,000 in fiscal 2018.

	The fair value of all options granted during the second quarter of fiscal 2014 was determined at the date of the grant using the Black-Scholes option-pricing model and the following assumptions:

	Expected average risk-free interest rate		2.9	%
	Expected average life (in years)		10
	Expected volatility		68.6	%
	Expected dividend yield		0	%

	The expected average risk-free rate is based on the 10-year U.S. treasury yield curve in December of 2013. The expected average life represents the period of time that the options granted are expected to be outstanding giving consideration to the vesting schedules, historical exercises and forfeiture patterns. Expected volatility is based on historical volatilities of the Company’s Common Stock. The expected dividend yield is based on historical information and the Board of Directors’ plan to reinvest available resources in the growth of the Company’s business for the foreseeable future.

	The intrinsic value of the in-the-money stock options outstanding was $202,000 and $393,000 at October 31, 2014 and 2013, respectively. The intrinsic value of in-the-money exercisable stock options was $191,000 and $375,000 at October 31, 2014 and 2013, respectively.

	Restricted Stock Plans

	Under the Company’s Second Amended and Restated Synergetics USA, Inc. 2001 Stock Plan (the “2001 Plan”), the Company’s common stock may be granted at no cost to certain employees and consultants of the Company. Certain plan participants are entitled to cash dividends and voting rights for their respective shares. Restrictions limit the sale or transfer of these shares during a vesting period whereby the restrictions lapse either pro-ratably over a three-year or four-year vesting period. These shares also vest upon a change of control event. As of October 31, 2014, there was approximately $511,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s 2001 Plan. The cost is expected to be recognized over a weighted average period of four years which is generally the vesting period. The following table provides information about restricted stock grants during the three-month period ended October 31, 2014:

					Weighted Average Grant
		Number of Shares			Date Fair Value
	Balance as of July 31, 2014		275,547		$	3.42
	Granted		--			--
	Forfeited		(2,500	)	$	4.52
	Vested		(110,018	)	$	1.37
	Relinquished for taxes		(22,987	)	$	1.37
	Balance as of October 31, 2014		140,042		$	5.36

Fair_Value_Information

Fair Value Information	3 Months Ended
Fair Value Information	Oct. 31, 2014
Fair Value Information [Abstract]	'
Fair Value Information	'
	Note 7. Fair Value Information

	Fair value is an exit price that represents the amount that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants.

	The Company does not have any financial assets which are required to be measured at fair value on a recurring basis. Non-financial assets such as goodwill, intangible assets and property, plant and equipment are measured at fair value when there is an indicator of impairment or when tested for impairment at least annually and recorded at fair value only when impairment is recognized. No impairment indicators existed as of October 31, 2014.

	The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short maturity of these items.

Supplemental_Balance_Sheet_Inf

Supplemental Balance Sheet Information	3 Months Ended
Supplemental Balance Sheet Information	Oct. 31, 2014
Supplemental Balance Sheet Information [Abstract]	'
Supplemental Balance Sheet Information	'
	Note 8. Supplemental Balance Sheet Information

	Inventories: Inventories as of October 31, 2014 and July 31, 2014, respectively, were as follows:

		October 31,2014		31-Jul-14
	Raw material and component parts	$	5,934	$	5,900
	Work in progress		2,296		2,077
	Finished goods		6,954		7,157
		$	15,184	$	15,134

	Property and Equipment: Property and equipment as of October 31, 2014 and July 31, 2014, respectively, were as follows:

		31-Oct-14		31-Jul-14
	Land	$	980	$	984
	Building and improvements		6,727		6,650
	Machinery and equipment		9,228		9,023
	Furniture and fixtures		1,189		1,182
	Software		1,116		1,113
	Construction in progress		27		153
			19,267		19,105
	Less accumulated depreciation		10,627		10,320
		$	8,640	$	8,785

	Other Intangible Assets: Information regarding the Company’s other intangible assets as of October 31, 2014 and July 31, 2014, respectively, were as follows:

		Gross Carrying		Accumulated		Net
		Value		Amortization		Net
		31-Oct-14
	Proprietary know-how	$	4,208	$	2,295	$	1,913
	Trademark		5,944		--		5,944
	Licensing agreement		5,694		2,963		2,731
	Other intangibles		1,222		136		1,086
	Patents		2,390		965		1,425
		$	19,458	$	6,359	$	13,099

		31-Jul-14
	Proprietary know-how	$	4,208	$	2,208	$	2,000
	Trademark		5,944		--		5,944
	Licensing agreement		5,694		2,895		2,799
	Other intangibles		1,279		111		1,168
	Patents		2,375		903		1,472
		$	19,500	$	6,117	$	13,383

	Goodwill of $439,000 and other intangibles of $765,000 are the result of the acquisition of the private, original equipment manufacturing company completed on May 3, 2014. Goodwill of $1,549,000 and other intangibles of $994,000 are a result of the acquisition of M.I.S.S. Ophthalmics Limited completed on July 8, 2013. Goodwill of $10,660,000 and proprietary know-how of $3,707,000 are a result of the reverse merger transaction completed on September 21, 2005.

	The Company did not incur costs to renew or extend the term of acquired intangible assets during the period ended October 31, 2014. Amortization expense is included in general and administrative expense and was $248,000 for the three months ended October 31, 2014 and $180,000 for the three months ended October 31, 2013. Amortization expense for the next five years is expected to approximate $975,000 annually.

	Pledged Assets; Short and Long-Term Debt (Excluding Revenue Bonds Payable): Short-term debt as of October 31, 2014 and July 31, 2014, consisted of the following:

	Revolving Credit Facility: The Company has a credit facility with a bank which allows for borrowings of up to $9.5 million with an interest rate based on either the one-, two- or three-month LIBOR plus 1.75 percent and adjusting each quarter based upon our leverage ratio. As of October 31, 2014, interest under the facility would have been 1.98 percent. The unused portion of the facility is charged at a rate of 0.20 percent. There were no borrowings under this facility at October 31, 2014. Outstanding amounts are collateralized by the Company’s domestic receivables and inventory. This credit facility was amended on September 30, 2013, to extend the termination date through September 30, 2016.

	The facility has two financial covenants: a maximum leverage ratio of 2.25 times and a minimum fixed charge coverage ratio of 1.25 times. As of October 31, 2014, the leverage ratio was zero, as there is no outstanding debt as of October 31, 2014 and the minimum fixed charge coverage ratio was 319 times, as interest expense was minimal. The facility restricts the payment of dividends if, following the distribution, the fixed charge coverage ratio would fall below the required minimum.

	Equipment Line of Credit: Under this credit facility, the Company may borrow up to $1.0 million, with interest at one-month LIBOR plus 3.0 percent. Pursuant to the terms of the equipment line of credit, under no circumstances shall the rate be less than 3.5 percent per annum. The unused portion of the facility is not charged a fee. There were no borrowings under this facility at October 31, 2014. The equipment line of credit was amended on September 30, 2013, to extend the maturity date to September 30, 2016.

	Deferred Revenue: Deferred revenue as of October 31, 2014 and July 31, 2014, respectively, consisted of the following:

		31-Oct-14		31-Jul-14
	Deferred revenue – Alcon, Inc. settlement	$	14,208	$	14,530
	Less: Short-term portion		1,288		1,288
	Long-term portion	$	12,920	$	13,242

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Oct. 31, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	Note 9. Commitments and Contingencies

	The Company has entered into change of control agreements with each of its President and Chief Executive Officer, Chief Financial Officer, Vice President of Domestic Sales and Vice President of Marketing and Technology. The change of control agreements with its executive officers provide that if employment is terminated within one year for cause or disability following a change in control (as each term is defined in the change in control agreements), as a result of the officers’ death, or by the officer other than as an involuntary termination (as defined in the change in control agreements), the Company shall pay the officer all compensation earned or accrued through his or her employment termination date, including (i) base salary; (ii) reimbursement for reasonable and necessary expenses; (iii) vacation pay; (iv) bonuses and incentive compensation; and (v) all other amounts to which they are entitled under any compensation or benefit plan of the Company (“Standard Compensation Due”).

	If the officer’s employment is terminated within one year following a change of control without cause and for any reason other than death or disability, including an involuntary termination, and provided the officer enters into a separation agreement within 30 days of his or her employment termination, he or she shall receive the following: (i) all Standard Compensation Due and any amount payable as of the termination date under the Company’s objectives-based incentive plan, the sum of which shall be paid in a lump sum immediately upon such termination; and (ii) an amount equal to one times his or her annual base salary at the rate in effect immediately prior to the change in control, to be paid in 12 equal monthly installments beginning in the month following his or her employment termination. Furthermore, all of the officer’s awards of shares or options shall immediately vest and be exercisable for one year after the date of his or her employment termination.

	Various claims, incidental to the ordinary course of business, are pending against the Company. In the opinion of management, after consultation with legal counsel, resolution of these matters is not expected to have a material effect on the accompanying financial statements.

	The Company is subject to regulatory requirements throughout the world. In the normal course of business, regulatory agencies may require companies in the medical industry to change their products or operating procedures, which could affect the Company. The Company regularly incurs expenses to comply with these regulations and may be required to incur additional expenses. Management is not able to estimate any additional expenditures outside the normal course of operations which will be incurred by the Company in future periods in order to comply with these regulations.

Enterprisewide_Sales_Informati

Enterprise-wide Sales Information	3 Months Ended
Enterprise-wide Sales Information	Oct. 31, 2014
Enterprise-wide Sales Information [Abstract]	'
Enterprise-wide Sales Information	'
	Note 10. Enterprise-wide Sales Information

	Enterprise-wide sales information for the three months ended October 31, 2014 and 2013, respectively, consisted of the following:

			Three Months		Three Months
			Ended October		Ended October
			31, 2014		31, 2013
	Net Sales
	Ophthalmic		$	8,730	$	8,498
	OEM ⁽¹⁾			7,685		6,848
	Other ⁽²⁾			231		184
	Total		$	16,646	$	15,530
	Net Sales
	Domestic		$	12,616	$	11,869
	International			4,030		3,661
			$	16,646	$	15,530

	-1	Net sales from OEM represent sales of electrosurgery generators, disposable bipolar forceps and related accessories and royalties from Codman, multi-channel generators, disposable ultrasonic tips and related accessories to Stryker and sales of certain disposable products. Recognition of deferred revenues of $322,000 from Alcon, Inc. is included in this category for the three months ended October 31, 2014 and 2013, respectively. Many of the products we sell to our OEM customers are shipped to their non-U.S. customers in various countries around the world, but are included in our domestic revenues.
	-2	Net sales from Other represent direct neurosurgery revenues and other miscellaneous revenues.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Oct. 31, 2014
Recent Accounting Pronouncements [Abstract]	'
Recent Accounting Pronouncements	'
	Note 11. Recent Accounting Pronouncements

	In March 2013, the Financial Accounting Standards Board ("FASB") issued an accounting standard update requiring an entity to release into net income the entire amount of a cumulative translation adjustment related to its investment in a foreign entity when as a parent it either sells a part or all of its investment in the foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets within the foreign entity. The Company has adopted this accounting standard update which had no impact on its consolidated financial statements.

	In July 2013, the FASB issued an accounting standard update that provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward or a tax credit carryforward exists. Under the new standard update, unrecognized tax benefit, or a portion of an unrecognized tax benefit, is to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward. This Company has adopted this accounting standard update which had no impact on its consolidated financial statements.

	In April 2014, the FASB issued an accounting standard update increasing the threshold for a disposal to qualify as a discontinued operation and require new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The standard will be effective for the Company beginning in the second quarter fiscal 2015. The adoption of the pronouncement may affect the Company’s presentation of future dispositions.

	In May 2014, the FASB issued an accounting standard update that provides explicit guidance on the recognition of revenue based upon the entity’s contracts with customers to transfer goods or services. Under the new standard update, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This accounting standard update will be effective for the Company in the first quarter of fiscal 2018. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements.

	In June 2014, the FASB issued guidance clarifying that share-based compensation performance targets that could be achieved after the requisite service period should be treated as a performance condition that affects vesting, rather than a condition that affects the grant-date fair value of the award. This guidance is effective for the Company in the first quarter of fiscal 2017, with early adoption permitted. The adoption of the pronouncement may affect the Company’s presentation of future performance based stock compensation awards.

	In August 2014, the FASB issued an accounting standard update that provides explicit guidance on whether there is substantial doubt about an entity’s ability to continue as a going concern. Before the issuance of this update, there was no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. This guidance is expected to reduce the diversity in the timing and content of footnote disclosures. The guidance requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards as specified in the guidance. The guidance becomes effective for the annual period ending after December 15, 2016 and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the effects of adopting this guidance on its consolidated financial statements but the adoption is not expected to have a significant impact on the Company’s consolidated financial statements.

	In November 2014, the FASB issued an accounting standard update providing guidance for determining whether and at what threshold an acquired entity can reflect the acquirer's accounting and reporting basis (pushdown accounting) in its separate financial statements. The amendments in this update provide an acquired entity with an option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. This accounting standard update will be effective for the Company in the second quarter of fiscal 2015. The adoption of this guidance is not expected to have a significant impact upon the Company's consolidated financial statements.

	The Company has reviewed all other recently issued, but not yet effective, accounting pronouncements and does not believe any such pronouncements will have a material impact on its financial statements.

Subsequent_Events

Subsequent Events	3 Months Ended
Subsequent Events	Oct. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Note 12. Subsequent Events

	On December 10, 2014, the Company acquired Sterimedix LTD ("Sterimedix"), a private manufacturing company incorporated in England and Wales for a net cash consideration of $13.5 million. Sterimedix manufactures and supplies cannulas for ophthalmic and non-surgical aesthetics procedures. Sterimedix generated total revenue of approximately $6.4 million during its fiscal year ended December 31, 2013 and was solidly profitable on an operating basis. In connection with the acquisition, the Company and Sterimedix entered into the Stock Purchase Agreement, dated December 10, 2014 (the "Agreement"). In addition to the cash consideration, the Agreement provides for potential gross profit margin earn-outs through December 31, 2017.

Exit_Costs_Tables

Exit Costs (Tables)	3 Months Ended
Exit Costs (Tables)	Oct. 31, 2014
Exit Costs [Abstract]	'
Exit costs	'
	As of October 31, 2014, the Company had a current liability of $48,000 for employee termination benefits in accrued expenses.

		Three Months Ended					Cumulative		Total
	(dollars in thousands)	October 31,					as of		Expected
		2014			2013		October 31,		to be
		2014			2013		2014		Incurred
	Employee termination costs	$	--		$	--	$	615	$	925
	Other associated costs		62			--		129		239
		$	62		$	--	$	744	$	1,164

		Termination Costs

	Exit liabilities at August 1, 2014	$	112
	Additions		--
	Payments		(64	)
	Exit liabilities at October 31, 2014	$	48

OEM_Partner_Agreements_Tables

OEM Partner Agreements (Tables)	3 Months Ended
	Oct. 31, 2014
OEM Partner Agreements [Abstract]	'
Total sales to marketing partners and their respective percent of the Company's net sales	'
	Total sales to Codman and its respective percent of the Company’s net sales in the three months ended October 31, 2014 and 2013, including the sales of generators, accessories, disposable bipolar forceps and cord tubing, were as follows:

		Three Months Ended			Three Months Ended
		31-Oct-14			31-Oct-13
	Net Sales	$	3,798		$	4,101
	Percent of net sales		22.8	%		26.4	%

	Total sales to Stryker and its respective percent of the Company’s net sales in the three months ended October 31, 2014, and 2013, including the sales of pain control generators, disposable ultrasonic instrument tips and accessories, were as follows:

		Three Months Ended			Three Months Ended
		31-Oct-14			31-Oct-13
	Net Sales	$	2,981		$	2,162
	Percent of net sales		17.9	%		13.9	%

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Oct. 31, 2014
Stock-Based Compensation [Abstract]	'
Stock options activity	'
	The following table provides information about stock-based awards outstanding at October 31, 2014:

					Weighted Average		Weighted Average
		Shares			Exercise Price		Fair Value
	Options outstanding beginning of period		815,162		$	4.25	$	3.27
	For the period August 1, 2014 through October 31, 2014
	Granted		--			--		--
	Forfeited		--			--		--
	Exercised		(22,500	)	$	1.27	$	1.02
	Options outstanding, end of period		792,662		$	4.33	$	3.34
	Options exercisable, end of period		558,915		$	4.17	$	3.23
Assumptions used to derive weighted fair value of options granted	'
	The fair value of all options granted during the second quarter of fiscal 2014 was determined at the date of the grant using the Black-Scholes option-pricing model and the following assumptions:

	Expected average risk-free interest rate		2.9	%
	Expected average life (in years)		10
	Expected volatility		68.6	%
	Expected dividend yield		0	%

Information about restricted stock grants	'
	The following table provides information about restricted stock grants during the three-month period ended October 31, 2014:

					Weighted Average Grant
		Number of Shares			Date Fair Value
	Balance as of July 31, 2014		275,547		$	3.42
	Granted		--			--
	Forfeited		(2,500	)	$	4.52
	Vested		(110,018	)	$	1.37
	Relinquished for taxes		(22,987	)	$	1.37
	Balance as of October 31, 2014		140,042		$	5.36

Supplemental_Balance_Sheet_Inf1

Supplemental Balance Sheet Information (Tables)	3 Months Ended
Supplemental Balance Sheet Information (Tables)	Oct. 31, 2014
Supplemental Balance Sheet Information [Abstract]	'
Inventories	'
	Inventories as of October 31, 2014 and July 31, 2014, respectively, were as follows:

		October 31,2014		31-Jul-14
	Raw material and component parts	$	5,934	$	5,900
	Work in progress		2,296		2,077
	Finished goods		6,954		7,157
		$	15,184	$	15,134
Property and equipment	'
	Property and equipment as of October 31, 2014 and July 31, 2014, respectively, were as follows:

		31-Oct-14		31-Jul-14
	Land	$	980	$	984
	Building and improvements		6,727		6,650
	Machinery and equipment		9,228		9,023
	Furniture and fixtures		1,189		1,182
	Software		1,116		1,113
	Construction in progress		27		153
			19,267		19,105
	Less accumulated depreciation		10,627		10,320
		$	8,640	$	8,785
Information regarding other intangible assets	'
	Information regarding the Company’s other intangible assets as of October 31, 2014 and July 31, 2014, respectively, were as follows:

		Gross Carrying		Accumulated		Net
		Value		Amortization		Net
		31-Oct-14
	Proprietary know-how	$	4,208	$	2,295	$	1,913
	Trademark		5,944		--		5,944
	Licensing agreement		5,694		2,963		2,731
	Other intangibles		1,222		136		1,086
	Patents		2,390		965		1,425
		$	19,458	$	6,359	$	13,099

		31-Jul-14
	Proprietary know-how	$	4,208	$	2,208	$	2,000
	Trademark		5,944		--		5,944
	Licensing agreement		5,694		2,895		2,799
	Other intangibles		1,279		111		1,168
	Patents		2,375		903		1,472
		$	19,500	$	6,117	$	13,383

Deferred revenue	'
	Deferred revenue as of October 31, 2014 and July 31, 2014, respectively, consisted of the following:

		31-Oct-14		31-Jul-14
	Deferred revenue – Alcon, Inc. settlement	$	14,208	$	14,530
	Less: Short-term portion		1,288		1,288
	Long-term portion	$	12,920	$	13,242

Enterprisewide_Sales_Informati1

Enterprise-wide Sales Information (Tables)	3 Months Ended
Enterprise-wide Sales Information (Tables)	Oct. 31, 2014
Enterprise-wide Sales Information [Abstract]	'
Enterprise-wide sales information	'
	Enterprise-wide sales information for the three months ended October 31, 2014 and 2013, respectively, consisted of the following:

			Three Months		Three Months
			Ended October		Ended October
			31, 2014		31, 2013
	Net Sales
	Ophthalmic		$	8,730	$	8,498
	OEM ⁽¹⁾			7,685		6,848
	Other ⁽²⁾			231		184
	Total		$	16,646	$	15,530
	Net Sales
	Domestic		$	12,616	$	11,869
	International			4,030		3,661
			$	16,646	$	15,530

	-1	Net sales from OEM represent sales of electrosurgery generators, disposable bipolar forceps and related accessories and royalties from Codman, multi-channel generators, disposable ultrasonic tips and related accessories to Stryker and sales of certain disposable products. Recognition of deferred revenues of $322,000 from Alcon, Inc. is included in this category for the three months ended October 31, 2014 and 2013, respectively. Many of the products we sell to our OEM customers are shipped to their non-U.S. customers in various countries around the world, but are included in our domestic revenues.
	-2	Net sales from Other represent direct neurosurgery revenues and other miscellaneous revenues.

Exit_Costs_Details

Exit Costs (Details) (USD $)	3 Months Ended
Exit Costs (Details) (USD $)	Oct. 31, 2014	Oct. 31, 2013
Exit Costs [Abstract]	'	'
Current liability related to employee termination benefits	$48,000	'
Exit Costs [Line Items]	'	'
Exit costs, incurred	62,000	0
Exit costs, cumulative	744,000	'
Exit costs, expected to be incurred	1,164,000	'
Contract Termination Costs [Abstract]	'	'
Additions	62,000	0
Exit Liabilities, end of period	48,000	'
Employee Termination Costs [Member]	'	'
Exit Costs [Line Items]	'	'
Exit costs, incurred	0	0
Exit costs, cumulative	615,000	'
Exit costs, expected to be incurred	925,000	'
Other Associated Costs [Member]	'	'
Exit Costs [Line Items]	'	'
Exit costs, incurred	62,000	0
Exit costs, cumulative	129,000	'
Exit costs, expected to be incurred	239,000	'
Termination Costs [Member]	'	'
Exit Costs [Abstract]	'	'
Current liability related to employee termination benefits	48,000	'
Contract Termination Costs [Abstract]	'	'
Exit Liabilities, beginning of period	112,000	'
Additions	0	'
Payments	-64,000	'
Exit Liabilities, end of period	$48,000	'

Acquisitions_Details

Acquisitions (Details) (USD $)	Oct. 31, 2014	Jul. 31, 2014	3-May-14	3-May-14
Acquisitions (Details) (USD $)	Oct. 31, 2014	Jul. 31, 2014	Ophthalmology Manufacturing Company [Member]	Ophthalmology Manufacturing Company [Member]
Business Acquisition [Line Items]	'	'	'	'
Cash consideration	'	'	$1,400,000	'
Intellectual property	'	'	'	800,000
Goodwill	$12,648,000	$12,738,000	'	$400,000

OEM_Partner_Agreements_Details

OEM Partner Agreements (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
	Partner	Oct. 31, 2013
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'
Number of U.S. based national and international marketing partners	2	'
Net sales	$16,646	$15,530
Reporting threshold (in hundredths)	10.00%	'
Codman collaborative arrangement [Member]	'	'
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'
Numbers of years a product was sold	'30 years	'
Net sales	3,798	4,101
Percent of net sales (in hundredths)	22.80%	26.40%
Codman collaborative arrangement [Member] \| Bipolar generators and related disposables and accessories [Member]	'	'
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'
Collaborative arrangement time frame	'3 years	'
Collaborative arrangements extension	'3 years	'
Codman collaborative arrangement [Member] \| Malis Spetzler Trademark [Member]	'	'
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'
Collaborative arrangement time frame	'3 years	'
Collaborative arrangements extension	'3 years	'
Stryker collaborative arrangement [Member]	'	'
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'
Net sales	$2,981	$2,162
Percent of net sales (in hundredths)	17.90%	13.90%

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended
Stock-Based Compensation (Details) (USD $)	Oct. 31, 2014	Jan. 31, 2014	Oct. 31, 2013
Options, Weighted Average Fair Value [Roll Forward]	'	'	'
Compensation expense for restricted stock	$188,000	'	$184,000
Compensation expense related to exit costs	62,000	'	0
Future compensation cost expected to be recognized [Abstract]	'	'	'
Fiscal 2015	219,000	'	'
Fiscal 2016	238,000	'	'
Fiscal 2017	119,000	'	'
Fiscal 2018	17,000	'	'
Weighted average fair value of options granted and the assumptions used [Abstract]	'	'	'
Term of U.S. Treasury yield curve used to estimate average risk-free interest rate	'10 years	'	'
Additional information about options outstanding [Abstract]	'	'	'
Fair value of in-the-money stock options outstanding	202,000	'	393,000
Additional information about exercisable options [Abstract]	'	'	'
Fair value of in-the-money exercisable stock options	191,000	'	375,000
Stock Options [Member]	'	'	'
Options, Shares [Roll Forward]	'	'	'
Options outstanding, beginning of period (in shares)	815,162	'	'
Granted (in shares)	0	'	'
Forfeited (in shares)	0	'	'
Exercised (in shares)	-22,500	'	'
Options outstanding, end of period (in shares)	792,662	'	'
Options exercisable, end of period (in shares)	558,915	'	'
Options, Weighted Average Exercise Price [Roll Forward]	'	'	'
Options outstanding, beginning of period (in dollars per share)	$4.25	'	'
Granted (in dollars per share)	$0	'	'
Forfeited (in dollars per share)	$0	'	'
Exercised (in dollars per share)	$1.27	'	'
Options outstanding, end of period (in dollars per share)	$4.33	'	'
Options exercisable, end of period (in dollars per share)	$4.17	'	'
Options, Weighted Average Fair Value [Roll Forward]	'	'	'
Options outstanding, beginning of period (in dollars per share)	$3.27	'	'
Granted (in dollars per share)	$0	'	'
Forfeited (in dollars per share)	$0	'	'
Exercised (in dollars per share)	$1.02	'	'
Options outstanding, end of period (in dollars per share)	$3.34	'	'
Options exercisable, end of period (in dollars per share)	$3.23	'	'
Compensation expense related to current year	39,000	'	43,000
Weighted average fair value of options granted and the assumptions used [Abstract]	'	'	'
Expected average risk-free interest rate (in hundredths)	'	2.90%	'
Expected average life (in years)	'	'10 years	'
Expected volatility (in hundredths)	'	68.60%	'
Expected dividend yield (in hundredths)	'	0.00%	'
Stock Options [Member] \| Officers [Member]	'	'	'
Options, Shares [Roll Forward]	'	'	'
Granted (in shares)	'	57,500	'
Options, Weighted Average Fair Value [Roll Forward]	'	'	'
Compensation expense related to current year	10,000	'	'
Vesting period	'	'4 years	'
Compensation expense for stock options related to previous year	56,000	'	48,000
Restricted Stock [Member]	'	'	'
Restricted Stock Grants, Number of Shares [Roll Forward]	'	'	'
Restricted stock awards, beginning of period (in shares)	275,547	'	'
Granted (in shares)	0	'	'
Forfeited (in shares)	-2,500	'	'
Vested (in shares)	-110,018	'	'
Relinquished for taxes (in shares)	-22,987	'	'
End of period (in shares)	140,042	'	'
Weighted Average Grant Date Fair Value [Roll Forward]	'	'	'
Restricted stock awards, beginning of period (in dollars per share)	$3.42	'	'
Granted (in dollars per share)	$0	'	'
Forfeited (in dollars per share)	$4.52	'	'
Vested (in dollars per share)	$1.37	'	'
Relinquished for taxes (in dollars per share)	$1.37	'	'
End of period (in dollars per share)	$5.36	'	'
2001 Stock Plan [Member] \| Restricted Stock [Member]	'	'	'
Additional information about exercisable options [Abstract]	'	'	'
Unrecognized compensation cost related to non-vested share-based compensation arrangements granted	$511,000	'	'
Weighted average period for recognition of unrecognized compensation cost	'4 years	'	'
2001 Stock Plan [Member] \| Restricted Stock [Member] \| Minimum [Member]	'	'	'
Options, Weighted Average Fair Value [Roll Forward]	'	'	'
Vesting period	'3 years	'	'
2001 Stock Plan [Member] \| Restricted Stock [Member] \| Maximum [Member]	'	'	'
Options, Weighted Average Fair Value [Roll Forward]	'	'	'
Vesting period	'4 years	'	'
2005 Non-Employee Directors' Plan [Member] \| Stock Options [Member] \| Directors [Member]	'	'	'
Options, Weighted Average Fair Value [Roll Forward]	'	'	'
Options issued (in shares)	10,000	'	'

Supplemental_Balance_Sheet_Inf2

Supplemental Balance Sheet Information (Details) (USD $)

0 Months Ended

3 Months Ended

0 Months Ended

Sep. 21, 2005

Oct. 31, 2014

Oct. 31, 2013

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 08, 2013

3-May-14

Sep. 21, 2005

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Oct. 31, 2014

Jul. 31, 2014

Alcon, Inc. settlement [Member]

Revolving Credit Facility [Member]

Equipment Line of Credit [Member]

M.I.S.S. [Member]

Ophthalmology Manufacturing Company [Member]

Proprietary Know-How [Member]

Trademark [Member]

Licensing Agreements [Member]

Other Intangibles [Member]

Patents [Member]

Land [Member]

Building and improvements [Member]

Machinery and equipment [Member]

Furniture and fixtures [Member]

Software [Member]

Construction in progress [Member]

Covenant

Inventories [Abstract]

Raw material and component parts

$5,934,000

$5,900,000

Work in progress

2,296,000

2,077,000

Finished goods

6,954,000

7,157,000

Inventory, net

15,184,000

15,134,000

Property, Plant and Equipment [Line Items]

Property and equipment, gross

19,267,000

19,105,000

980,000

984,000

6,727,000

6,650,000

9,228,000

9,023,000

1,189,000

1,182,000

1,116,000

1,113,000

27,000

153,000

Less accumulated depreciation

10,627,000

10,320,000

Property and equipment, net

8,640,000

8,785,000

Finite-Lived Intangible Assets [Line Items]

Gross Carrying Value

19,458,000

19,500,000

4,208,000

5,944,000

5,694,000

1,222,000

1,279,000

2,390,000

2,375,000

Accumulated Amortization

6,359,000

6,117,000

2,295,000

2,208,000

2,963,000

2,895,000

136,000

111,000

965,000

903,000

Net

13,099,000

13,383,000

1,913,000

2,000,000

5,944,000

2,731,000

2,799,000

1,086,000

1,168,000

1,425,000

1,472,000

Goodwill acquired

10,660,000

1,549,000

439,000

Other intangible assets acquired

994,000

765,000

3,707,000

Amortization included in general and administrative expense

248,000

180,000

Future amortization expense [Abstract]

2014

975,000

2015

975,000

2016

975,000

2017

975,000

2018

975,000

Line of Credit Facility [Line Items]

Maximum borrowing capacity

9,500,000

1,000,000

Description of variable rate basis

'The one-, two- or three-month LIBOR plus

'one-month LIBOR

Basis spread on variable rate (in hundredths)

1.75%

3.00%

Interest rate at period end (in hundredths)

1.98%

Interest charge on unused portion of facility (in hundredths)

0.20%

Borrowings under credit facility

Maturity date

30-Sep-16

Number of financial covenants

Maximum leverage ratio

2.25

Minimum fixed charge coverage ratio

1.25

Leverage ratio

Fixed charge coverage ratio

319

Minimum interest rate (in hundredths)

3.50%

Deferred Revenue Arrangement [Line Items]

Deferred revenue

14,208,000

14,530,000

Less: Short-term portion

1,288,000

Long-term portion

$12,920,000

$13,242,000

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Change in Control Agreement [Member])	3 Months Ended
	Oct. 31, 2014
Change in Control Agreement [Member]	'
Change in Control [Line Items]	'
Time frame for agreement to expire after the change of control	'1 year
Time frame to enter into a separation agreement after termination	'30 days
Number of years of base salary to be paid per agreement	'1 year
Number of monthly equal installments to be paid after termination	'12 months
Time frame for all awards to be exercised after termination	'1 year

Enterprisewide_Sales_Informati2

Enterprise-wide Sales Information (Details) (USD $)	3 Months Ended
Enterprise-wide Sales Information (Details) (USD $)	Oct. 31, 2014		Oct. 31, 2013
Revenue from External Customer [Line Items]	'		'
Net sales	$16,646,000		$15,530,000
Revenues from External Customers [Line Items]	'		'
Net sales	16,646,000		15,530,000
Alcon [Member]	'		'
Revenues from External Customers [Line Items]	'		'
Recognition of deferred revenue	322,000		322,000
Domestic [Member]	'		'
Revenues from External Customers [Line Items]	'		'
Net sales	12,616,000		11,869,000
International [Member]	'		'
Revenues from External Customers [Line Items]	'		'
Net sales	4,030,000		3,661,000
Ophthalmic [Member]	'		'
Revenue from External Customer [Line Items]	'		'
Net sales	8,730,000		8,498,000
OEM [Member]	'		'
Revenue from External Customer [Line Items]	'		'
Net sales	7,685,000	[1]	6,848,000	[1]
Other [Member]	'		'
Revenue from External Customer [Line Items]	'		'
Net sales	$231,000	[2]	$184,000	[2]

[1]	Net sales from OEM represent sales of electrosurgery generators, disposable bipolar forceps and related accessories and royalties from Codman, multi-channel generators, disposable ultrasonic tips and related accessories to Stryker and sales of certain disposable products. Recognition of deferred revenues of $322,000 from Alcon, Inc. is included in this category for the three months ended October 31, 2014 and 2013, respectively. Many of the products we sell to our OEM customers are shipped to their non-U.S. customers in various countries around the world, but are included in our domestic revenues.
[2]	Net sales from Other represent direct neurosurgery revenues and other miscellaneous revenues.

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], Sterimedix [Member], USD $)	2 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Oct. 31, 2014
Subsequent Event [Member] \| Sterimedix [Member]	'	'
Subsequent Event [Line Items]	'	'
Acquisition date	'	10-Dec-14
Cash consideration	$13.50	'
Revenue reported by acquired entity for last annual period	$6.40	'