View Filing Data

$ 52,369

$ 111,225

^[1]

$ 161,364

^[1]

Accounts receivable, trade, net of allowance for doubtful accounts of $344, $473, and $919 at July 31, 2012, 2011 and 2010, respectively

131

^[1]

270

^[1]

148,931

146,411

^[1]

159,768

^[1]

83,990

76,883

^[1]

74,096

^[1]

10,466

10,876

^[1]

14,226

^[1]

295,887

345,526

^[1]

409,724

^[1]

^[1]

40,772

47,403

53,061

10,803

12,016

^[1]

13,016

^[1]

3,058

^[1]

16,207

^[1]

2,897

4,699

^[1]

24,173

^[1]

5,465

9,545

^[1]

9,760

^[1]

358,882

422,247

^[1]

525,941

^[1]

Current installments of obligations under capital leases

^[1]

110,520

114,588

^[1]

132,098

^[1]

1,724

1,456

^[1]

2,632

^[1]

^[1]

180

41,753

36,384

^[1]

45,963

^[1]

26,778

38,624

^[1]

47,649

^[1]

1,528

1,817

^[1]

1,791

^[1]

182,376

193,143

^[1]

230,272

^[1]

Obligations under capital leases, less current installments

^[1]

1,000

^[1]

144

^[1]

11,012

12,585

^[1]

15,722

^[1]

Commitments and contingencies (See Note 14)

293

1,883

^[1]

3,289

^[1]

^[1]

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding as of July 31, 2012, 2011 and 2010

^[1]

Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,926,622 issued and outstanding shares at July 31, 2012; 43,829,097 issued and outstanding shares at July 31, 2011; 44,039,938 issued and 43,729,338 outstanding shares at July 31, 2010

439

438

^[1]

440

^[1]

7,390,027

7,387,135

^[1]

7,427,031

^[1]

Treasury stock, at cost

^[1]

(1,992)

(7,236,775)

(7,198,667)

^[1]

(7,164,202)

^[1]

11,441

25,636

^[1]

14,237

^[1]

165,132

214,542

^[1]

275,514

^[1]

Accounts receivable, trade, net of allowance for doubtful accounts

$ 358,882

$ 422,247

^[1]

$ 525,941

^[1]

[1]	As Restated

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2009

$ 344

$ 353

$ 332

$ 473

$ 777

$ 1,027

$ 994

$ 919

$ 879

$ 1,257

$ 1,154

$ 3,767

$ 0.01

5,000,000

$ 0.01

1,400,000,000

43,926,622

44,264,450

44,076,160

43,829,097

43,824,651

43,814,824

43,723,322

44,039,938

44,056,151

44,293,804

44,931,506

43,926,622

44,264,450

44,076,160

43,829,097

43,824,651

43,814,824

43,723,322

43,729,338

44,056,151

44,293,804

44,931,506

[1]	As Restated

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

^[1]

Jul. 31, 2010

^[1]

Jul. 31, 2009

^[1]

$ 739,891

$ 873,748

$ 918,445

$ 1,001,980

675,579

792,809

807,416

886,144

64,312

80,939

111,029

115,836

99,409

85,187

92,855

99,938

1,279

5,457

6,308

5,485

2,062

27,166

25,800

164,682

7,455

795

(965)

19,341

110,205

118,605

123,998

289,446

(45,893)

(37,666)

(12,969)

(173,610)

380

238

298

1,493

(373)

(462)

(573)

(816)

14,431

8,882

(988)

820

(4,109)

(4,308)

(2,129)

(16,565)

Income (loss) from continuing operations before income taxes

10,329

4,350

(3,392)

(15,068)

(35,564)

(33,316)

(16,361)

(188,678)

3,035

819

5,162

10,831

(38,599)

(34,135)

(21,523)

(199,509)

491

(330)

(2,318)

126

$ (38,108)

$ (34,465)

$ (23,841)

$ (199,383)

Basic and diluted loss per share:

$ (0.88)

$ (0.79)

$ (0.49)

$ (4.39)

0.01

(0.01)

(0.05)

$ (0.87)

$ (0.80)

$ (0.54)

$ (4.39)

43,565

43,294

44,104

45,372

Correction of prior errors | Restatement Pricing Adjustment [Member]

43,565

43,294

44,104

45,372

[1]	As Restated

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($)
$ in Thousands

Total

Common Stock [Member]

Treasury Stock [Member]

Additional Paid-in Capital [Member]

Accumulated Other Comprehensive Income [Member]

Accumulated Deficit [Member]

$ (31,202)

Beginning balance (As Previously Reported [Member]) at Jul. 31, 2008

545,974

$ 491

$ (35,268)

$ 7,471,230

$ 19,297

(6,909,776)

Beginning balance at Jul. 31, 2008

^[1]

514,772

$ 491

(35,268)

7,471,230

19,297

(6,940,978)

Beginning balance, shares (As Previously Reported [Member]) at Jul. 31, 2008

49,061,660

Beginning balance, shares at Jul. 31, 2008

^[1]

49,061,660

(193,452)

(6,574)

^[1]

(199,383)

Net unrealized holding gain

(1,207)

414

(4,199)

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises

(204,375)

175

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises, shares

37,593

2,149

$ 1

2,148

Restricted stock forfeitures

96,268

(335)

$ (1)

(334)

(81,738)

2,891

Repurchase of common stock, shares

(6,812)

1,043,183

Retirement of treasury stock

$ (34)

38,267

(38,233)

Retirement of treasury stock, shares

(3,461,705)

Ending balance at Jul. 31, 2009

^[1]

308,465

$ 457

(3,813)

7,437,877

14,305

(7,140,361)

Ending balance, shares at Jul. 31, 2009

^[1]

45,652,078

8,558

(1,405)

Ending balance, shares (As Previously Reported [Member]) at Oct. 31, 2009

^[1]

$ 7,197

44,931,506

Ending balance, shares at Oct. 31, 2009

^[1]

44,931,506

Beginning balance at Jul. 31, 2009

^[1]

$ 308,465

$ 457

(3,813)

7,437,877

14,305

(7,140,361)

Beginning balance, shares at Jul. 31, 2009

^[1]

45,652,078

(17,787)

(4,891)

^[1]

(23,841)

Net unrealized holding gain

(255)

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises

(23,909)

412

$ 1

411

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises, shares

53,444

1,717

$ 2

1,715

Restricted stock forfeitures

165,438

(10)

$ (2)

(8)

(25,917)

2,018

Repurchase of common stock, shares

(13,179)

1,550,373

Retirement of treasury stock

$ (18)

15,000

(14,982)

Retirement of treasury stock, shares

(1,805,105)

Ending balance at Jul. 31, 2010

^[1]

$ 275,514

$ 440

(1,992)

7,427,031

14,237

(7,164,202)

Ending balance, shares (As Previously Reported [Member]) at Jul. 31, 2010

44,039,938

Ending balance, shares (Restatement Pricing Adjustment [Member])

44,039,938

Ending balance, shares at Jul. 31, 2010

^[1]

44,039,938

Beginning balance, shares (As Previously Reported [Member]) at Oct. 31, 2009

44,931,506

Beginning balance, shares at Oct. 31, 2009

^[1]

44,931,506

$ 2,566

(1,454)

Ending balance, shares (As Previously Reported [Member]) at Jan. 31, 2010

^[1]

$ 1,157

44,293,804

Ending balance, shares at Jan. 31, 2010

^[1]

44,293,804

$ (3,426)

(1,056)

Ending balance, shares (As Previously Reported [Member]) at Apr. 30, 2010

^[1]

$ (5,329)

44,056,151

Ending balance, shares at Apr. 30, 2010

^[1]

44,056,151

$ (25,485)

(975)

Ending balance at Jul. 31, 2010

^[1]

(26,867)

^[1]

$ 275,514

$ 440

(1,992)

7,427,031

14,237

(7,164,202)

Ending balance, shares (As Previously Reported [Member]) at Jul. 31, 2010

44,039,938

Ending balance, shares (Restatement Pricing Adjustment [Member])

44,039,938

Ending balance, shares at Jul. 31, 2010

^[1]

44,039,938

$ (6,670)

5,737

Ending balance, shares (As Previously Reported [Member]) at Oct. 31, 2010

^[1]

$ (2,212)

43,723,322

Ending balance, shares at Oct. 31, 2010

^[1]

43,723,322

Beginning balance at Jul. 31, 2010

^[1]

$ 275,514

$ 440

(1,992)

7,427,031

14,237

(7,164,202)

Beginning balance, shares (As Previously Reported [Member]) at Jul. 31, 2010

44,039,938

Beginning balance, shares (Restatement Pricing Adjustment [Member])

44,039,938

Beginning balance, shares at Jul. 31, 2010

^[1]

44,039,938

$ (49,015)

11,576

(34,465)

^[1]

(34,465)

Net unrealized holding gain

(73)

128

11,344

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises

(23,066)

208

$ 1

207

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises, shares

42,807

$ 3

(3)

334,533

(23,003)

3,481

Repurchase of common stock, shares

(1,394)

215,514

Retirement of treasury stock

(246)

$ (6)

$ 3,386

(3,626)

Retirement of treasury stock, shares

(565,178)

Special dividend payment

(39,955)

Ending balance at Jul. 31, 2011

^[1]

$ 214,542

$ 438

7,387,135

25,636

(7,198,667)

Ending balance, shares (As Previously Reported [Member]) at Jul. 31, 2011

43,829,097

Ending balance, shares (Restatement Pricing Adjustment [Member])

43,829,097

Ending balance, shares at Jul. 31, 2011

^[1]

43,829,097

Beginning balance, shares (As Previously Reported [Member]) at Oct. 31, 2010

43,723,322

Beginning balance, shares at Oct. 31, 2010

^[1]

43,723,322

$ (28,334)

(508)

Ending balance, shares (As Previously Reported [Member]) at Jan. 31, 2011

^[1]

$ (29,280)

43,814,824

Ending balance, shares at Jan. 31, 2011

^[1]

43,814,824

$ (5,126)

6,747

Ending balance, shares (As Previously Reported [Member]) at Apr. 30, 2011

^[1]

$ 1,478

43,824,651

Ending balance, shares at Apr. 30, 2011

^[1]

43,824,651

$ (8,885)

(399)

Ending balance at Jul. 31, 2011

^[1]

(4,451)

^[1]

$ 214,542

$ 438

7,387,135

25,636

(7,198,667)

Ending balance, shares (As Previously Reported [Member]) at Jul. 31, 2011

43,829,097

Ending balance, shares (Restatement Pricing Adjustment [Member])

43,829,097

Ending balance, shares at Jul. 31, 2011

^[1]

43,829,097

$ 1,169

(417)

Ending balance, shares (As Previously Reported [Member]) at Oct. 31, 2011

^[1]

$ 1,145

44,076,160

Ending balance, shares at Oct. 31, 2011

^[1]

44,076,160

Beginning balance at Jul. 31, 2011

^[1]

$ 214,542

$ 438

7,387,135

25,636

(7,198,667)

Beginning balance, shares (As Previously Reported [Member]) at Jul. 31, 2011

43,829,097

Beginning balance, shares (Restatement Pricing Adjustment [Member])

43,829,097

Beginning balance, shares at Jul. 31, 2011

^[1]

43,829,097

$ (38,108)

(38,108)

(3,545)

(10,650)

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises

(52,303)

114

Issuance of common stock pursuant to employee stock purchase plans and stock option exercises, shares

45,977

$ 2

(2)

Restricted stock forfeitures

217,359

(188)

$ (1)

(187)

(165,811)

Ending balance at Jul. 31, 2012

2,967

$ 165,132

$ 439

$ 7,390,027

$ 11,441

$ (7,236,775)

Ending balance, shares at Jul. 31, 2012

43,926,622

Beginning balance, shares (As Previously Reported [Member]) at Oct. 31, 2011

44,076,160

Beginning balance, shares at Oct. 31, 2011

^[1]

44,076,160

$ (12,613)

(496)

Ending balance, shares (As Previously Reported [Member]) at Jan. 31, 2012

^[1]

$ (12,876)

44,264,450

Ending balance, shares at Jan. 31, 2012

^[1]

44,264,450

[1]	As Restated

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

Cash flows from operating activities of continuing operations:

$ (38,108)

$ (34,465)

^[1]

$ (23,841)

^[1]

$ (199,383)

^[1]

491

(330)

^[1]

(2,318)

^[1]

126

^[1]

Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:

(38,599)

(34,135)

^[1]

(21,523)

^[1]

(199,509)

^[1]

14,057

16,833

^[1]

16,918

^[1]

20,057

^[1]

2,062

27,166

^[1]

25,800

^[1]

164,682

^[1]

1,279

5,457

^[1]

6,308

^[1]

5,485

^[1]

2,990

3,481

^[1]

4,154

^[1]

5,103

^[1]

(14,431)

(8,882)

^[1]

988

^[1]

(820)

^[1]

Non-cash restructuring charges

4,109

4,308

^[1]

2,129

^[1]

16,565

^[1]

^[1]

389

Changes in operating assets and liabilities, excluding effects from acquisition:

Trade accounts receivable, net

(9,755)

20,050

^[1]

9,607

^[1]

33,138

^[1]

(11,604)

583

^[1]

(7,604)

^[1]

18,737

^[1]

Accounts payable, accrued restructuring and accrued expenses

(1,591)

3,906

^[1]

707

^[1]

(390)

^[1]

9,086

(38,511)

^[1]

2,307

^[1]

(38,976)

^[1]

(5,766)

(3,297)

^[1]

171

^[1]

(168)

^[1]

Net cash provided by (used in) operating activities of continuing operations

10,225

(125)

^[1]

1,233

^[1]

11,689

^[1]

(37,938)

(3,166)

^[1]

41,195

^[1]

35,982

^[1]

Cash flows from investing activities of continuing operations:

Additions to property and equipment

(11,564)

(8,968)

^[1]

(9,194)

^[1]

(11,060)

^[1]

Redemption (purchase) of short-term investments

^[1]

10,000

(10,000)

Proceeds from the sale of available-for-sale securities

(2,912)

(3,473)

^[1]

(3,402)

^[1]

(9,533)

^[1]

^[1]

115

1,319

Proceeds from the sale of equity investments in affiliates

238

^[1]

1,319

^[1]

18,008

^[1]

Business acquisitions, net of cash acquired

^[1]

(29,580)

Net cash used in investing activities of continuing operations

(14,452)

(12,088)

^[1]

(30,857)

^[1]

(12,585)

^[1]

Cash flows from financing activities of continuing operations:

Payments of dividends

^[1]

(40,001)

Line of credit origination costs

(124)

(106)

^[1]

(524)

^[1]

(408)

^[1]

^[1]

(782)

Proceeds from revolving line of credit

10,000

Repayments on revolving line of credit

(10,000)

^[1]

Proceeds from issuance of common stock

204

^[1]

331

^[1]

113

^[1]

Net cash used in financing activities of continuing operations

(188)

(1,633)

^[1]

(13,521)

^[1]

(7,137)

^[1]

(221)

(41,536)

^[1]

(14,496)

^[1]

(7,432)

^[1]

Cash flows from discontinued operations:

Operating cash flows

(1,501)

(1,713)

^[1]

(1,723)

^[1]

(2,276)

^[1]

Net cash used in discontinued operations

(1,501)

(1,713)

^[1]

(1,723)

^[1]

(2,276)

^[1]

Net effect of exchange rate changes on cash and cash equivalents

(4,744)

8,364

^[1]

(1,522)

^[1]

(5,507)

^[1]

Net increase (decrease) in cash and cash equivalents

(58,856)

(50,139)

^[1]

(7,403)

^[1]

8,182

^[1]

Cash and cash equivalents at beginning of year

^[1]

111,225

161,364

168,767

160,585

Cash and cash equivalents at end of year

$ 52,369

$ 111,225

^[1]

$ 161,364

^[1]

$ 168,767

^[1]

[1]	As Restated

NATURE OF OPERATIONS

12 Months Ended

Jul. 31, 2012

NATURE OF OPERATIONS

(1)

NATURE OF OPERATIONS

ModusLink Global Solutions, Inc. (together with its consolidated subsidiaries, “ModusLink Global Solutions” or “the Company”), through its wholly-owned subsidiaries, ModusLink Corporation (“ModusLink”), ModusLink PTS, Inc. (“ModusLink PTS”), and Tech for Less, LLC (“TFL”), is a leader in global supply chain business process management serving clients in markets such as consumer electronics, communications, computing, medical devices, software, luxury goods and retail. The Company designs and executes critical elements in our clients’ global supply chains to improve speed to market, product customization, flexibility, cost, quality and service. These benefits are delivered through a combination of innovative service solutions, integrated operations, proven business processes, an expansive global footprint and world-class technology.

The Company has an integrated network of strategically located facilities in various countries, including numerous sites throughout North America, Europe and Asia. The Company previously operated under the names CMGI, Inc. and CMG Information Services, Inc. and was incorporated in Delaware in 1986.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jul. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(2)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying consolidated financial statements reflect the application of certain significant accounting policies described below.

Principles of Consolidation

The accompanying consolidated financial statements of the Company include the results of its wholly-owned and majority-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The Company accounts for investments in businesses in which it owns between 20% and 50% of the voting interest using the equity method, if the Company has the ability to exercise significant influence over the investee company. All other investments for which the Company does not have the ability to exercise significant influence or for which there is not a readily determinable market value, are accounted for under the cost method of accounting.

Use of Estimates

The preparation of the Company’s consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis the Company evaluates its estimates including those related to revenue recognition, inventories, investments, intangible assets, income taxes, restructuring, valuation of long-lived assets, impairments, contingencies and litigation. Accounting estimates are based on historical experience and various assumptions that are considered reasonable under the circumstances. However, because these estimates inherently involve judgments and uncertainties, actual results could differ materially from those estimated.

Revenue Recognition

The Company’s revenue primarily comes from the sale of supply chain management services to our clients. Amounts billed to clients under these arrangements include revenue attributable to the services performed as well as for materials procured on our clients’ behalf as part of our service to them. Other sources of revenue include the sale of products and other services. Revenue is recognized for services when the services are performed and for product sales when the products are shipped assuming all other applicable revenue recognition criteria are met.

The Company recognizes revenue in accordance with the provisions of the Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition” (“ASC Topic 605”). Specifically, the Company recognizes revenue when persuasive evidence of an arrangement exists, title and risk of loss have passed or services have been rendered, the sales price is fixed or determinable and collection of the related receivable is reasonably assured. The Company’s standard sales terms are FOB shipping point, which means that risk of loss passes to the client when it is shipped from the Company’s location. The Company also evaluates the terms of each major client contract relative to a number of criteria that management considers in making its determination with respect to gross versus net reporting of revenue for transactions with its clients. Management’s criteria for making these judgments place particular emphasis on determining the primary obligor in a transaction and which party bears general inventory risk. The Company records all shipping and handling fees billed to clients as revenue, and related costs as cost of sales, when incurred.

The Company applies the provisions of ASC Topic 985, “Software” (“ASC Topic 985”), with respect to certain transactions involving the sale of software products by our e-Business operations.

The Company also follows the guidance of ASC Topic 605 for determining whether an arrangement involving more than one deliverable contains more than one unit of accounting and how the arrangement consideration should be measured and allocated to the separate units of accounting. On August 1, 2010, the Company adopted guidance issued by the Financial Accounting Standards Board (“FASB”) on revenue recognition. Under the new guidance, when vendor specific objective evidence or third party evidence for deliverables in an arrangement cannot be determined, a best estimate of the selling price is required to separate deliverables and allocate arrangement consideration using the relative selling price method. The new guidance includes new disclosure requirements on how the application of the relative selling price method affects the timing and amount of revenue recognition. Adoption of the new guidance did not have a material impact on our financial statements. For those contracts which contain multiple deliverables, management must first determine whether each service, or deliverable, meets the separation criteria. In general, a deliverable (or a group of deliverables) meets the separation criteria if the deliverable has standalone value to the client. Each deliverable that meets the separation criteria is considered a “separate unit of accounting.” Management allocates the total arrangement consideration to each separate unit of accounting based on the relative selling price of each separate unit of accounting. After the arrangement consideration has been allocated to each separate unit of accounting, management applies the appropriate revenue recognition method for each separate unit of accounting as described previously based on the nature of the arrangement. All deliverables that do not meet the separation criteria are combined into one unit of accounting and the appropriate revenue recognition method is applied.

Foreign Currency Translation

All assets and liabilities of the Company’s foreign subsidiaries, whose functional currency is the local currency, are translated to U.S. dollars at the rates in effect at the balance sheet date. All amounts in the Consolidated Statement of Operations are translated using the average exchange rates in effect during the year. Resulting translation adjustments are reflected in the accumulated other comprehensive income (loss) component of stockholders’ equity. Settlement of receivables and payables in a foreign currency that is not the functional currency result in foreign currency transaction gains and losses. Foreign currency transaction gains and losses are included in “Other gains (losses), net” in the Consolidated Statement of Operations.

Cash, Cash Equivalents and Short-term Investments

The Company considers all highly liquid investments with original maturities of 90 days or less at the time of purchase to be cash equivalents. Investments with maturities greater than 90 days to twelve months at the time of purchase are considered short-term investments.

Fair Value of Financial Instruments

The carrying value of cash and cash equivalents, accounts receivable, accounts payable, current liabilities and the revolving line of credit approximate fair value because of the short maturity of these instruments. The carrying value of capital lease obligations approximates fair value, as estimated by using discounted future cash flows based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements.

Investments

Marketable securities held by the Company which meet the criteria for classification as available-for-sale are carried at fair value. Unrealized holding gains and losses on securities classified as available-for-sale are carried net of income taxes, when applicable, as a component of accumulated other comprehensive income (loss) in the Consolidated Statements of Stockholders’ Equity.

The Company maintains interests in several privately held companies primarily through its various venture capital funds. The Company’s venture capital investment portfolio, @Ventures, invests in early-stage technology companies. These investments are generally made in connection with a round of financing with other third-party investors. Investments in which the Company’s interest is less than 20% and which are not classified as available-for-sale securities are carried at the lower of cost or net realizable value unless it is determined that the Company exercises significant influence over the investee company, in which case the equity method of accounting is used. For those investments in which the Company’s voting interest is between 20% and 50%, the equity method of accounting is generally used. Under this method, the investment balance, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the investee company as they occur, limited to the extent of the Company’s investment in, advances to and commitments for the investee. The Company’s share of net income or losses of the investee are reflected in “Equity in losses of affiliates and impairments” in the Company’s Consolidated Statement of Operations.

The Company assesses the need to record impairment losses on its investments and records such losses when the impairment of an investment is determined to be other than temporary in nature. The process of assessing whether a particular equity investment’s net realizable value is less than its carrying cost requires a significant amount of judgment. This valuation process is based primarily on information that the Company obtains from these privately held companies who are not subject to the same disclosure and audit requirements as the reports required of U.S. public companies. As such, the timeliness and completeness of the data may vary. Based on the Company’s evaluation, it recorded impairment charges related to its investments in privately held companies of approximately $2.9 million, $2.5 million, $0.3 million, and $16.8 million for the fiscal years ended 2012, 2011, 2010, and 2009, respectively. These impairment losses are reflected in “Equity in losses of affiliates and impairments” in the Company’s Consolidated Statements of Operations.

At the time an equity method investee issues its stock to unrelated parties, the Company accounts for that share issuance as if the Company has sold a proportionate share of its investment. The Company records any gain or loss resulting from an equity method investee’s share issuance in its Consolidated Statement of Operations.

Inventory

Inventories are stated at the lower of cost or market. Cost is determined by both the moving average and the first-in, first-out (“FIFO”) methods. Materials that the Company typically procures on behalf of its clients that are included in inventory include materials such as compact discs, printed materials, manuals, labels, hardware accessories, hard disk drives, consumer packaging, shipping boxes and labels, power cords and cables for client-owned electronic devices.

Inventories consisted of the following:


	July 31,
	2012		2011 (As Restated)		2010
	(in thousands)
Raw materials	$	56,198	$	46,940	$	49,591
Work-in-process		2,154		2,101		2,006
Finished goods		25,638		27,842		22,499

	$	83,990	$	76,883	$	74,096

The Company values the inventory at the lower of cost or market. The Company continuously monitors inventory balances and records inventory provisions for any excess of the cost of the inventory over its estimated market value. The Company also monitors inventory balances for obsolescence and excess quantities as compared to projected demands. The Company’s inventory methodology is based on assumptions about average shelf life of inventory, forecasted volumes, forecasted selling prices, write-down history of inventory and market conditions. While such assumptions may change from period to period, in determining the net realizable value of its inventories, the Company uses the best information available as of the balance sheet date. If actual market conditions are less favorable than those projected, or the Company experiences a higher incidence of inventory obsolescence because of rapidly changing technology and client requirements, additional inventory provisions may be required. Once established, write-downs of inventory are considered permanent adjustments to the cost basis of inventory and cannot be reversed due to subsequent increases in demand forecasts. Accordingly, if inventory previously written down to its net realizable value is subsequently sold, gross profit margins would be favorably impacted.

As previously discussed, the restated financial statements also include adjustments to correct certain other immaterial errors, including previously unrecorded immaterial adjustments identified in audits of prior years’ financial statements. As of July 31, 2011, the Company recorded a $0.2 million reduction in its raw materials inventory balance which resulted from an understatement of the Company’s inventory reserve balance.

Long-Lived Assets, Goodwill and Other Intangible Assets

The Company follows ASC Topic 360, “Property, Plant, and Equipment” (“ASC Topic 360”). Under ASC Topic 360, the Company tests certain long-lived assets or group of assets for recoverability whenever events or changes in circumstances indicate that the Company may not be able to recover the asset’s carrying amount. ASC Topic 360 defines impairment as the condition that exists when the carrying amount of a long-lived asset or group, including property and equipment and other intangible assets, exceeds its fair value. The Company evaluates recoverability by determining whether the undiscounted cash flows expected to result from the use and eventual disposition of that asset or group cover the carrying value at the evaluation date. If the undiscounted cash flows are not sufficient to cover the carrying value, the Company measures an impairment loss as the excess of the carrying amount of the long-lived asset or group over its fair value. Management may use third party valuation experts to assist in its determination of fair value.

The Company is required to test goodwill for impairment annually or if a triggering event occurs in accordance with the provisions of ASC Topic 350, “Goodwill and Other” (“ASC Topic 350”). The Company’s policy is to perform its annual impairment testing for all reporting units, determined to be the Americas, Europe, Asia, e-Business, ModusLink PTS and TFL operating segments, on July 31 of each fiscal year.

The Company’s valuation methodology for assessing impairment of long-lived assets, goodwill and other intangible assets requires management to make judgments and assumptions based on historical experience and on projections of future operating performance. Management may use third party valuation advisors to assist in its determination of the fair value of reporting units subject to impairment testing. The Company operates in highly competitive environments and projections of future operating results and cash flows may vary significantly from actual results. If our assumptions used in estimating our valuations of the Company’s reporting units for purposes of impairment testing differ materially from actual future results, the Company may record impairment charges in the future and our financial results may be materially adversely affected.

Restructuring Expenses

The Company follows the provisions of ASC Topic 420, “Exit or Disposal Cost Obligations” (“ASC Topic 420”) which addresses financial accounting and reporting for costs associated with exit or disposal activities. The statement requires companies to recognize costs associated with exit or disposal activities when a liability has been incurred rather than at the date of a commitment to an exit or disposal plan. The Company records liabilities that primarily include estimated severance and other costs related to employee benefits and certain estimated costs related to equipment and facility lease obligations and other service contracts. These contractual obligations principally represent future obligations under non-cancelable real estate leases. Restructuring estimates relating to real estate leases involve consideration of a number of factors including: potential sublet rental rates, estimated vacancy period for the property, brokerage commissions and certain other costs. Estimates relating to potential sublet rates and expected vacancy periods are most likely to have a material impact on the Company’s results of operations in the event that actual amounts differ significantly from estimates. These estimates involve judgment and uncertainties, and the settlement of these liabilities could differ materially from recorded amounts.

Property and Equipment

Property, plant and equipment are stated at cost. Depreciation and amortization is provided on the straight-line basis over the estimated useful lives of the respective assets. Leasehold improvements are amortized on a straight-line basis over the lesser of the estimated useful life of the asset or the lease term. The Company capitalizes certain computer software development costs when incurred in connection with developing or obtaining computer software for internal use. The estimated useful lives are as follows:


Buildings			32 years
Machinery & equipment			3 to 5 years
Furniture & fixtures			5 to 7 years
Automobiles			5 years
Leasehold improvements			5 to 7 years
Software			3 to 8 years

Maintenance and repairs are charged to operating expenses as incurred. Major renewals and betterments are added to property and equipment accounts at cost.

Income Taxes

Income taxes are accounted for under the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”), using the asset and liability method whereby deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC Topic 740 also requires that the deferred tax assets be reduced by a valuation allowance, if based on the weight of available evidence, it is more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. This methodology is subjective and requires significant estimates and judgments in the determination of the recoverability of deferred tax assets and in the calculation of certain tax liabilities.

In accordance with ASC Topic 740, the Company applies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s financial statements. ASC Topic 740 prescribes a recognition threshold of more-likely-than-not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the financial statements. In accordance with the Company’s accounting policy, interest and penalties related to uncertain tax positions is included in the provision of income taxes line of the Consolidated Statement of Operations. See Note 17, “Income Taxes,” for additional information.

Treasury Stock

Treasury stock is accounted for under the cost method and is included as a deduction from equity in the Stockholders’ Equity section of the Consolidated Balance Sheets.

Earnings (Loss) Per Share

The Company calculates earnings per share in accordance with ASC Topic 260, “Earnings per Share.” The Company adopted ASC Topic 260-10, formerly FASB Staff Position EITF No. 03-6-1, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities” effective August 1, 2009. Under ASC Topic 260-10, unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. All of the Company’s nonvested shares are considered participating securities because they contain non-forfeitable rights to dividends. However, holders of nonvested shares do not have an obligation to fund losses, and therefore, are only allocated a portion of the earnings for the earnings per share calculation when the Company reports net income.

Under the two-class method, net income is reduced by the amount of dividends declared in the period for each class of common stock and participating securities. The remaining undistributed earnings are then allocated to common stock and participating securities as if all of the net income for the period had been distributed. Basic earnings per share excludes dilution and is calculated by dividing net income allocable to common shares by the weighted average number of common shares outstanding for the period. Diluted earnings per share is calculated by dividing net income allocable to common shares by the weighted-average number of common shares for the period, as adjusted for the potential dilutive effect of non-participating share-based awards. The following table reconciles earnings per share for the fiscal years ended July 31, 2012, 2011, 2010 and 2009.


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(In thousands)
BASIC
Loss from continuing operations	$	(38,599	)	$	(34,135	)	$	(21,523	)	$	(199,509	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126
Less net income allocable to participating restricted stock		—			—			—			—

Net loss available for basic common shares	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)

Weighted average common shares outstanding		43,565			43,294			44,104			45,372

Basic net loss per common share from continuing operations	$	(0.88	)	$	(0.79	)	$	(0.49	)	$	(4.39	)
Basic net income (loss) per common share from discontinued operations		0.01			(0.01	)		(0.05	)		—

Basic net loss per common share	$	(0.87	)	$	(0.80	)	$	(0.54	)	$	(4.39	)

DILUTED
Loss from continuing operations	$	(38,599	)	$	(34,135	)	$	(21,523	)	$	(199,509	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126
Less net income allocable to participating restricted stock		—			—			—			—

Net loss available for diluted common shares	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)

Weighted average common shares outstanding		43,565			43,294			44,104			45,372
Weighted average common equivalent shares arising from: dilutive stock options		—			—			—			—

Weighted-average number of common and potential common shares		43,565			43,294			44,104			45,372

Diluted net loss per common share from continuing operations	$	(0.88	)	$	(0.79	)	$	(0.49	)	$	(4.39	)
Diluted net income (loss) per common share from discontinued operations		0.01			(0.01	)		(0.05	)		—

Diluted net loss per common share	$	(0.87	)	$	(0.80	)	$	(0.54	)	$	(4.39	)

Approximately 2.9 million, 3.2 million, 2.1 million, and 2.4 million common stock equivalent shares were excluded from the denominator in the calculation of diluted earnings per share for the fiscal years ended July 31, 2012, 2011, 2010 and 2009, respectively, as the Company has recorded a net loss for those periods.

Share-Based Compensation Plans

The Company recognizes share-based compensation in accordance with the provisions of ASC Topic 718, “Compensation – Stock Compensation” (“ASC Topic 718”) which requires the measurement and recognition of compensation expense for all share- based payment awards made to employees and directors including employee stock options and employee stock purchases based on estimated fair values.

The Company estimates the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods. The Company estimates forfeitures at the time of grant and revises those estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

The Company uses a binomial-lattice option-pricing model (“binomial-lattice model”) for valuation of share-based awards. The Company believes that the binomial-lattice model is an accurate model for valuing employee stock options since it reflects the impact of stock price changes on option exercise behavior. The Company uses third party analyses to assist in developing the assumptions used in its binomial-lattice model and the resulting fair value used to record compensation expense. The Company’s determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. Any changes in these assumptions may materially affect the estimated fair value of the share-based award.

Major Clients and Concentration of Credit Risk

Sales to one client, Hewlett-Packard accounted for approximately 31%, 28%, and 30% of the Company’s consolidated net revenue for the fiscal years ended July 31, 2012, 2011 and 2010, respectively. Sales to three clients, Hewlett-Packard, Advanced Micro Devices, and SanDisk Corporation, accounted for approximately 27%, 10%, and 11%, respectively, of the Company’s consolidated net revenue for the fiscal year July 31, 2009. To manage risk, the Company performs ongoing credit evaluations of its clients’ financial condition. The Company generally does not require collateral on accounts receivable. The Company maintains an allowance for doubtful accounts based on its assessment of the collectability of accounts receivable.

Financial instruments which potentially subject the Company to concentrations of credit risk are cash, cash equivalents, available-for-sale securities and accounts receivable. The Company’s cash equivalent portfolio is diversified and consists primarily of short-term investment grade securities placed with high credit quality financial institutions.

Derivative Instruments and Hedging Activities

The Company periodically enters into forward foreign currency exchange rate contracts to manage exposures to certain foreign currencies. The fair value of the Company’s foreign currency exchange rate contracts would be estimated based on the foreign currency exchange rates as of July 31, 2012. The Company’s policy does not allow for the use of derivatives for trading or speculative purposes.

The Company believes that its forward foreign currency exchange rate contracts economically function as effective hedges of the underlying exposures; however, the forward foreign currency exchange rate contracts do not meet the specific criteria for hedge accounting defined in ASC Topic 815, “Derivatives and Hedging” (“ASC Topic 815”), thus requiring the Company to record all changes in the fair value of these contracts in earnings in the period of the change. Unrealized gains or losses are included in “Other gains (losses), net” in the Company’s Consolidated Statements of Operations and these amounts.

During fiscal year 2011 the Company had a foreign currency exchange contract. As a result of the change in fair value on this foreign currency exchange contract, the Company recorded a loss of approximately $0.1 million. The Company had no outstanding foreign currency exchange contracts as of July 31, 2012 and 2011.

Recent Accounting Pronouncements

In December 2011, the Financial Accounting Standards Board (“FASB”) issued a final standard to defer the new requirement to present components of reclassifications of other comprehensive income on the face of the income statement. This update allows entities to continue to report reclassifications out of accumulated other comprehensive income consistent with the presentation requirements in effect before Accounting Standard Update (“ASU”) 2011-05, “Presentation of Comprehensive Income”. All other requirements included within ASU 2011-05 are not affected and entities must report comprehensive income either in a single continuous financial statement or in two separate but consecutive financial statements. The effective date of this update is for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company believes adoption of this new guidance will not have a material impact on the Company’s financial statements as these updates have an impact on presentation only.

In September 2011, the FASB issued ASU 2011-08, “Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment” which is intended to reduce the complexity and costs related to testing goodwill for impairment. ASU 2011-08 allows an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment in order to determine whether it is necessary to perform the two-step quantitative goodwill impairment test already included in Topic 350. An entity will no longer be required to calculate the fair value of a reporting unit unless the entity determines, based on its qualitative assessment, that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. ASU 2011-08 also expands upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The amended guidance became effective for the Company on August 1, 2012. We do not anticipate that this new guidance will have a material impact on our financial statements.

In June 2011, the FASB issued guidance on the presentation of comprehensive income. The new guidance eliminates the current option to report other comprehensive income and its components in the statement of stockholders’ equity. Instead, an entity will be required to present either a continuous statement of net income and other comprehensive income or two separate but consecutive statements. The new guidance became effective for the Company on August 1, 2012. The Company believes adoption of this new guidance will not have a material impact on the Company’s financial statements as this update has an impact on presentation only.

In May 2011, the FASB issued guidance to amend the accounting and disclosure requirements on fair value measurements. The new guidance limits the highest-and-best-use measure to nonfinancial assets, permits certain financial assets and liabilities with offsetting positions in market or counterparty credits risks to be measured at a net basis, and provides guidance on the applicability of premiums and discounts. Additionally, the new guidance expands the disclosures on Level 3 inputs by requiring quantitative disclosure of the unobservable inputs and assumptions, as well as description of the valuation processes and the sensitivity of the fair value changes in unobservable inputs. The new guidance became effective for the Company on February 1, 2012. Other than requiring additional disclosures, we do not anticipate material impacts on our financial statements upon adoption.

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

12 Months Ended

Jul. 31, 2012

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

(3)

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

Background and Scope of the Investigation

On February 15, 2012, the Division of Enforcement of the Securities and Exchange Commission (“SEC”) initiated with the Company an informal inquiry, and later a formal action, regarding the Company’s treatment of rebates associated with volume discounts provided by vendors (the “SEC Inquiry”). Concurrent with the SEC Inquiry, the Audit Committee of the Company’s Board of Directors commenced an internal investigation of the Company’s practice with regard to rebates received from vendors.

On March 12, 2012, in its Form 10-Q for the quarterly period ended January 31, 2012, the Company announced the pendency of the SEC Inquiry.

In providing its supply chain services, the Company enters into contracts with its clients that employ various arrangements for pricing, including “fixed-price,” “cost-plus,” or “cost-pass-through” pricing models. Although the specifications and terms of the pricing model can frequently vary from client to client, and among the products or programs for a single client, under a “fixed-price” model, the Company and its client will typically negotiate a fixed unit price for the supply chain services to be provided, where the level of costs incurred by the Company does not affect the contractual, negotiated price. Under a “cost-plus” model, the client agrees to pay the costs incurred by the Company to purchase materials, together with an agreed-to percentage mark-up on those costs. Finally, with regard to a “cost-pass-through” model, materials and other costs incurred by the Company are passed through directly to the client, and the client agrees to pay a separate negotiated fee for specified services provided by the Company. Arrangements with clients can include the use of any one or more of these pricing models, depending on the client program involved and the location from which the Company services the client. In addition, continued price and cost discussions with clients through the course of the relationship can sometimes result in an accepted change in the pricing model applied. Consequently, the implication and interpretation of the cost and price terms applicable to any particular client relationship can vary across client programs and products, at different periods in time, and based on the locations from which a client may be serviced.

In the course of the Company’s contractual relationships, clients often demand lower costs over time, typically attributable to efficiency gains in service offerings. The Company accomplishes this in various ways, including for example, by shifting production to lower cost regions, redesigning clients’ packaging and supply chains, and strategically sourcing materials. As part of these services and in the normal course of its business, the Company purchases certain commodity types of materials, including, but not limited to, print, packaging, media and labels, to meet client requirements, often in quantities well in excess of those required by any one client. As a result, the Company receives improved pricing on materials. Frequently, the Company also received and retained rebates based on aggregate volumes of purchases or other criteria established by the vendor. The retention of rebates produced a positive impact on the Company’s revenue, and, therefore, also positively affected the Company’s profitability and operating income.

As a part of the investigation, the Audit Committee with the assistance of its outside advisors performed an extensive review of these relationships and determined that certain client contracts had not been aligned consistently with the Company’s practice of retaining rebates, based on the applicable pricing model in effect with its clients. In the course of this investigation, the Audit Committee also identified limited instances where costs of materials incurred were marked-up to clients in a manner not consistent with client contracts. Based on additional accounting evaluations conducted in connection with the investigation and in consultation with the Audit Committee’s advisors, the Company concluded, and recommended to the Audit Committee, that revenue should not have been recognized for retained rebates and mark-ups associated with the cost-based client contracts.

As previously reported in the Company’s Current Report on Form 8-K dated June 9, 2012, the Audit Committee, in consultation with management and the Board of Directors, concluded that the Company’s previously issued financial statements for the fiscal years ended July 31, 2009 through 2011 and the first two quarters of fiscal year 2012, and selected unaudited financial data for fiscal years 2007 and 2008, should no longer be relied upon. Accordingly, the Company’s accompanying consolidated financial statements for the fiscal years ended July 31, 2011, 2010 and 2009 have been restated.

Several principal adjustments were made to historic financial statements as a result of the restatement. Where the retention of a rebate or a mark-up was determined to have been inconsistent with a client contract (collectively referred to as “pricing adjustments”), the Company concluded that these amounts were not properly recorded as revenue. Accordingly, revenue was reduced by an equivalent amount for the period that the rebate was estimated to have affected. A corresponding liability for the same amount was recorded in that period (referred to as accrued pricing liabilities), which decreased working capital in the period. The Company believes that it may not ultimately be required to pay the accrued pricing liabilities, due in part to the nature of the interactions with its clients. When, and to the extent that, the Company is able to conclude that the accrued pricing liabilities have been extinguished for less than the amounts accrued, the Company will record the difference as other income. In the course of its business with certain clients, the Company has received releases of claims from such clients which have resulted in the Company concluding that the accrued pricing liabilities for those clients have been extinguished. The amounts derecognized and recorded in other income were $11.8 million and $13.5 million for the years ended July 31, 2012 and 2011, respectively. The remaining accrued pricing liabilities at July 31, 2012 will be derecognized when there is sufficient information for the Company to conclude that such liabilities have been extinguished, which may occur through payment, legal release, or other legal or factual determination.

In addition to the errors described above, the restated financial statements include a $3.7 million adjustment in the year ended July 31, 2011 to correct a reserve for an uncertain tax position (the “tax adjustment”). Based on the date of effective settlement of the uncertain tax position, the reserve should have been reversed in the year ended July 31, 2011.

The restated financial statements also include other adjustments to correct certain immaterial errors for previously unrecorded adjustments identified in audits of prior years’ financial statements (the “other adjustments”). The previously unrecorded audit adjustments are being recorded as part of the restatement process although none of these adjustments is individually material.

In the tables appearing in these consolidated financial statements, the column labeled “Restatement Pricing Adjustments” sets forth the pricing adjustments and the column labeled “Restatement Other Adjustments” sets forth the tax adjustment (where applicable) and the other adjustments.

The restatement adjustments decreased revenue by $2.7 million, increased net income by $14.6 million and increased basic and diluted earnings per share by $0.33 for the fiscal year ended July 31, 2011. These restatement adjustments decreased revenue by $5.6 million, decreased net income by $6.0 million and decreased basic and diluted earnings per share by $0.14 for the fiscal year ended July 31, 2010. These restatement adjustments decreased revenue by $6.6 million, decreased net income by $5.9 million and decreased basic and diluted earnings per share by $0.13 for the fiscal year ended July 31, 2009.

Certain of the adjustments described above also affected periods prior to July 31, 2010. The cumulative effect of those restatement adjustments on years prior to fiscal year 2010 has been restated as a $37.1 million increase to beginning accumulated deficit from $7,103.2 million to $7,140.3 million for fiscal year 2010, set forth below.

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

July 31, 2011

(in thousands, except share data)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	111,225		$	—		$	—		$	111,225
Available-for-sale securities		131			—			—			131
Accounts receivable, trade, net of allowance for doubtful accounts of $473		146,411			—			—			146,411
Inventories, net		77,102			—			(219	)		76,883
Prepaid expenses and other current assets		10,876			—			—			10,876

Total current assets		345,745			—			(219	)		345,526

Property and equipment, net		47,299			—			104			47,403
Investments in affiliates		12,016			—			—			12,016
Goodwill		3,058			—			—			3,058
Other intangible assets, net		4,699			—			—			4,699
Other assets		9,545			—			—			9,545

Total assets	$	422,362		$	—		$	(115	)	$	422,247

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	43		$	—		$	51		$	94
Accounts payable		114,588			—			—			114,588
Current portion of accrued restructuring		1,456			—			—			1,456
Accrued income taxes		180			—			—			180
Accrued expenses		36,384			—			—			36,384
Other current liabilities		7,029			30,706			889			38,624
Current liabilities of discontinued operations		1,817			—			—			1,817

Total current liabilities		161,497			30,706			940			193,143

Long-term portion of accrued restructuring		8			—			—			8
Obligations under capital leases, less current installments		22			—			64			86
Other long-term liabilities		15,773			—			(3,188	)		12,585
Non-current liabilities of discontinued operations		1,883			—			—			1,883

Total liabilities		179,183			30,706			(2,184	)		207,705

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,829,097 issued and outstanding shares		438			—			—			438
Additional paid-in capital		7,387,135			—			—			7,387,135
Treasury stock, at cost		—			—			—			—
Accumulated deficit		(7,170,030	)		(30,706	)		2,069			(7,198,667	)
Accumulated other comprehensive income		25,636			—			—			25,636

Total stockholders’ equity		243,179			(30,706	)		2,069			214,542

Total liabilities and stockholders’ equity	$	422,362		$	—		$	(115	)	$	422,247

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

July 31, 2010

(in thousands, except share data)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	161,364		$	—		$	—		$	161,364
Available-for-sale securities		270			—			—			270
Accounts receivable, trade, net of allowance for doubtful accounts of $919		159,768			—			—			159,768
Inventories, net		74,096			—			—			74,096
Prepaid expenses and other current assets		14,226			—			—			14,226

Total current assets		409,724			—			—			409,724

Property and equipment, net		52,906			—			155			53,061
Investments in affiliates		13,016			—			—			13,016
Goodwill		16,207			—			—			16,207
Other intangible assets, net		24,173			—			—			24,173
Other assets		9,760			—			—			9,760

Total assets	$	525,786		$	—		$	155		$	525,941

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	40		$	—		$	51		$	91
Accounts payable		132,098			—			—			132,098
Current portion of accrued restructuring		2,632			—			—			2,632
Accrued income taxes		48			—			—			48
Accrued expenses		45,729			—			234			45,963
Other current liabilities		4,773			42,282			594			47,649
Current liabilities of discontinued operations		1,791			—			—			1,791

Total current liabilities		187,111			42,282			879			230,272

Long-term portion of accrued restructuring		1,000			—			—			1,000
Obligations under capital leases, less current installments		29			—			115			144
Other long-term liabilities		15,656			—			66			15,722
Non-current liabilities of discontinued operations		3,289			—			—			3,289

Total liabilities		207,085			42,282			1,060			250,427

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding					—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,039,938 issued and 43,729,338 outstanding shares		440			—			—			440
Additional paid-in capital		7,427,031			—			—			7,427,031
Treasury stock, at cost		(1,992	)		—			—			(1,992	)
Accumulated deficit		(7,121,015	)		(42,282	)		(905	)		(7,164,202	)
Accumulated other comprehensive income		14,237			—			—			14,237

Total stockholders’ equity		318,701			(42,282	)		(905	)		275,514

Total liabilities and stockholders’ equity	$	525,786		$	—		$	155		$	525,941

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended July 31, 2011

(in thousands, except per share amounts)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	876,466		$	(1,969	)	$	(749	)	$	873,748
Cost of revenue		792,833			—			(24	)		792,809

Gross profit		83,633			(1,969	)		(725	)		80,939

Operating expenses:
Selling, general and administrative		85,187			—			—			85,187
Amortization of intangible assets		5,457			—			—			5,457
Impairment of goodwill and long-lived assets		27,166			—			—			27,166
Restructuring, net		795			—			—			795

Total operating expenses		118,605			—			—			118,605

Operating income (loss)		(34,972	)		(1,969	)		(725	)		(37,666	)

Other income (expense):
Interest income		238			—			—			238
Interest expense		(453	)		—			(9	)		(462	)
Other gains (losses), net		(4,663	)		13,545			—			8,882
Equity in losses of affiliates and impairments		(4,308	)		—			—			(4,308	)

		(9,186	)		13,545			(9	)		4,350

Income (loss) from continuing operations before income taxes		(44,158	)		11,576			(734	)		(33,316	)
Income tax expense (benefit)		4,527			—			(3,708	)		819

Income (loss) from continuing operations		(48,685	)		11,576			2,974			(34,135	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations		(330	)		—			—			(330	)

Net income (loss)	$	(49,015	)	$	11,576		$	2,974		$	(34,465	)

Basic and diluted loss per share
Loss from continuing operations	$	(1.12	)	$	0.26		$	0.07		$	(0.79	)
Loss from discontinued operations	$	(0.01	)	$	—		$	—		$	(0.01	)

Net loss	$	(1.13	)	$	0.26		$	0.07		$	(0.80	)

Shares used in computing basic loss per share		43,294			—			—			43,294

Shares used in computing diluted loss per share		43,294			—			—			43,294

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended July 31, 2010

(in thousands, except per share amounts)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	923,996		$	(4,891	)	$	(660	)	$	918,445
Cost of revenue		807,393			—			23			807,416

Gross profit		116,603			(4,891	)		(683	)		111,029

Operating expenses:
Selling, general and administrative		92,855			—			—			92,855
Amortization of intangible assets		6,308			—			—			6,308
Impairment of goodwill and long-lived assets		25,800			—			—			25,800
Restructuring, net		(1,433	)		—			468			(965	)

Total operating expenses		123,530			—			468			123,998

Operating income (loss)		(6,927	)		(4,891	)		(1,151	)		(12,969	)

Other income (expense):
Interest income		298			—			—			298
Interest expense		(561	)		—			(12	)		(573	)
Other gains (losses), net		(988	)		—			—			(988	)
Equity in losses of affiliates and impairments		(2,129	)		—			—			(2,129	)

		(3,380	)		—			(12	)		(3,392	)

Income (loss) from continuing operations before income taxes		(10,307	)		(4,891	)		(1,163	)		(16,361	)
Income tax expense (benefit)		5,162			—			—			5,162

Income (loss) from continuing operations		(15,469	)		(4,891	)		(1,163	)		(21,523	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations		(2,318	)		—			—			(2,318	)

Net income (loss)	$	(17,787	)	$	(4,891	)	$	(1,163	)	$	(23,841	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.35	)	$	(0.11	)	$	(0.03	)	$	(0.49	)
Loss from discontinued operations		(0.05	)		—			—			(0.05	)

Net loss	$	(0.40	)	$	(0.11	)	$	(0.03	)	$	(0.54	)

Shares used in computing basic loss per share		44,104			—			—			44,104

Shares used in computing diluted loss per share		44,104			—			—			44,104

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended July 31, 2009

(in thousands, except per share amounts)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	1,008,554		$	(6,574	)	$	—		$	1,001,980
Cost of revenue		886,119			—			25			886,144

Gross profit		122,435			(6,574	)		(25	)		115,836

Operating expenses:
Selling, general and administrative		100,409			—			(471	)		99,938
Amortization of intangible assets		5,485			—			—			5,485
Impairment of goodwill and long-lived assets		164,682			—			—			164,682
Restructuring, net		19,552			—			(211	)		19,341

Total operating expenses		290,128			—			(682	)		289,446

Operating income (loss)		(167,693	)		(6,574	)		657			(173,610	)

Other income (expense):
Interest income		1,493			—			—			1,493
Interest expense		(802	)		—			(14	)		(816	)
Other gains (losses), net		820			—			—			820
Equity in losses of affiliates and impairments		(16,565	)		—			—			(16,565	)

		(15,054	)		—			(14	)		(15,068	)

Income (loss) from continuing operations before income taxes		(182,747	)		(6,574	)		643			(188,678	)
Income tax expense (benefit)		10,831			—			—			10,831

Income (loss) from continuing operations		(193,578	)		(6,574	)		643			(199,509	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations		126			—			—			126

Net income (loss)	$	(193,452	)	$	(6,574	)	$	643		$	(199,383	)

Basic and diluted loss per share
Loss from continuing operations	$	(4.26	)	$	(0.14	)	$	0.01		$	(4.39	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(4.26	)	$	(0.14	)	$	0.01		$	(4.39	)

Shares used in computing basic loss per share		45,372			—			—			45,372

Shares used in computing diluted loss per share		45,372			—			—			45,372

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Ended July 31, 2011

(in thousands)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Cash flows from operating activities of continuing operations:
Net loss	$	(49,015	)	$	11,576		$	2,974		$	(34,465	)
Income (loss) from discontinued operations		(330	)		—			—			(330	)

Loss from continuing operations		(48,685	)		11,576			2,974			(34,135	)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:
Depreciation		16,782			—			51			16,833
Impairment of goodwill and long-lived assets		27,166			—			—			27,166
Amortization of intangible assets		5,457			—			—			5,457
Share-based payments		3,481			—			—			3,481
Non-operating losses (gains)		4,663			(13,545	)		—			(8,882	)
Equity in losses of affiliates and impairments		4,308			—			—			4,308
Changes in operating assets and liabilities, excluding effects from acquisition:					—
Trade accounts receivable, net		20,050			—			—			20,050
Inventories		364			—			219			583
Prepaid expenses and other current assets		3,906			—			—			3,906
Accounts payable, accrued restructuring and accrued expenses		(38,277	)		—			(234	)		(38,511	)
Refundable and accrued income taxes, net		411			—			(3,708	)		(3,297	)
Other assets and liabilities		(2,843	)		1,969			749			(125	)

Net cash provided by (used in) operating activities of continuing operations		(3,217	)		—			51			(3,166	)

Cash flows from investing activities of continuing operations:
Additions to property and equipment		(8,968	)		—			—			(8,968	)
Investments in affiliates		(3,473	)		—			—			(3,473	)
Proceeds from the sale of available-for-sale securities		115			—			—			115
Proceeds from the sale of equity investments in affiliates		238			—			—			238

Net cash used in investing activities of continuing operations		(12,088	)		—			—			(12,088	)

Cash flows from financing activities of continuing operations:
Payments of dividends		(40,001	)		—			—			(40,001	)
Repayments on capital lease obligations		(55	)		—			(51	)		(106	)
Proceeds from issuance of common stock		204			—			—			204
Repurchase of common stock		(1,633	)		—			—			(1,633	)

Net cash used in financing activities of continuing operations		(41,485	)		—			(51	)		(41,536	)

Cash flows from discontinued operations:
Operating cash flows		(1,713	)		—			—			(1,713	)

Net cash used in discontinued operations		(1,713	)		—			—			(1,713	)

Net effect of exchange rate changes on cash and cash equivalents		8,364			—			—			8,364

Net decrease in cash and cash equivalents		(50,139	)		—			—			(50,139	)
Cash and cash equivalents at beginning of year		161,364			—			—			161,364

Cash and cash equivalents at end of year	$	111,225		$	—		$	—		$	111,225

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Ended July 31, 2010

(in thousands)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Cash flows from operating activities of continuing operations:
Net loss	$	(17,787	)	$	(4,891	)	$	(1,163	)	$	(23,841	)
Income (loss) from discontinued operations		(2,318	)		—			—			(2,318	)

Loss from continuing operations		(15,469	)		(4,891	)		(1,163	)		(21,523	)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:
Depreciation		16,867			—			51			16,918
Impairment of goodwill and long-lived assets		25,800			—			—			25,800
Amortization of intangible assets		6,308			—			—			6,308
Share-based payments		4,154			—			—			4,154
Non-operating losses (gains)		988			—			—			988
Equity in losses of affiliates and impairments		2,129			—			—			2,129
Changes in operating assets and liabilities, excluding effects from acquisition:
Trade accounts receivable, net		9,607			—			—			9,607
Inventories		(7,604	)		—			—			(7,604	)
Prepaid expenses and other current assets		707			—			—			707
Accounts payable, accrued restructuring and accrued expenses		1,807			—			500			2,307
Refundable and accrued income taxes, net		171			—						171
Other assets and liabilities		(4,317	)		4,891			659			1,233

Net cash provided by (used in) operating activities of continuing operations		41,148			—			47			41,195

Cash flows from investing activities of continuing operations:
Additions to property and equipment		(9,194	)		—			—			(9,194	)
Redemption (purchase) of short-term investments		10,000			—			—			10,000
Investments in affiliates		(3,402	)		—			—			(3,402	)
Proceeds from the sale of equity investments in affiliates		1,319			—			—			1,319
Business acquisitions, net of cash acquired		(29,580	)		—			—			(29,580	)

Net cash used in investing activities of continuing operations		(30,857	)		—			—			(30,857	)

Cash flows from financing activities of continuing operations:
Repayments on capital lease obligations		(477	)		—			(47	)		(524	)
Line of credit origination costs		(782	)		—			—			(782	)
Proceeds from issuance of common stock		331			—			—			331
Repurchase of common stock		(13,521	)		—			—			(13,521	)

Net cash used in financing activities of continuing operations		(14,449	)		—			(47	)		(14,496	)

Cash flows from discontinued operations:
Operating cash flows		(1,723	)		—			—			(1,723	)

Net cash used in discontinued operations		(1,723	)		—			—			(1,723	)

Net effect of exchange rate changes on cash and cash equivalents		(1,522	)		—			—			(1,522	)

Net decrease in cash and cash equivalents		(7,403	)		—			—			(7,403	)
Cash and cash equivalents at beginning of year		168,767			—			—			168,767

Cash and cash equivalents at end of year	$	161,364		$	—		$	—		$	161,364

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Ended July 31, 2009

(in thousands)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Cash flows from operating activities of continuing operations:
Net loss	$	(193,452	)	$	(6,574	)	$	643			(199,383	)
Income (loss) from discontinued operations		126			—			—			126

Loss from continuing operations		(193,578	)		(6,574	)		643			(199,509	)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:
Depreciation		20,012			—			45			20,057
Impairment of goodwill and long-lived assets		164,682			—			—			164,682
Amortization of intangible assets		5,485			—			—			5,485
Share-based payments		5,103			—			—			5,103
Non-operating losses (gains)		(820	)		—			—			(820	)
Equity in losses of affiliates and impairments		16,565			—			—			16,565
Non-cash restructuring charges		389			—			—			389
Changes in operating assets and liabilities, excluding effects from acquisition:
Trade accounts receivable, net		33,138			—			—			33,138
Inventories		18,737			—			—			18,737
Prepaid expenses and other current assets		(390	)		—			—			(390	)
Accounts payable, accrued restructuring and accrued expenses		(38,327	)		—			(649	)		(38,976	)
Refundable and accrued income taxes, net		(168	)		—			—			(168	)
Other assets and liabilities		5,115			6,574			—			11,689

Net cash provided by (used in) operating activities of continuing operations		35,943			—			39			35,982

Cash flows from investing activities of continuing operations:
Additions to property and equipment		(11,060	)		—			—			(11,060	)
Redemption (purchase) of short-term investments		(10,000	)		—			—			(10,000	)
Investments in affiliates		(9,533	)		—			—			(9,533	)
Proceeds from the sale of equity investments in affiliates		18,008			—			—			18,008

Net cash used in investing activities of continuing operations		(12,585	)		—			—			(12,585	)

Cash flows from financing activities of continuing operations:
Repayments on capital lease obligations		(369	)		—			(39	)		(408	)
Proceeds from issuance of common stock		113			—			—			113
Repurchase of common stock		(7,137	)		—			—			(7,137	)

Net cash used in financing activities of continuing operations		(7,393	)		—			(39	)		(7,432	)

Cash flows from discontinued operations:
Operating cash flows		(2,276	)		—			—			(2,276	)

Net cash used in discontinued operations		(2,276	)		—			—			(2,276	)

Net effect of exchange rate changes on cash and cash equivalents		(5,507	)		—			—			(5,507	)

Net increase in cash and cash equivalents		8,182			—			—			8,182
Cash and cash equivalents at beginning of year		160,585			—			—			160,585

Cash and cash equivalents at end of year	$	168,767			—			—		$	168,767

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

12 Months Ended

Jul. 31, 2012

(4)

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

Cash used for operating activities reflect cash payments for interest and income taxes as follows:


	Years Ended July 31,
	2012		2011		2010		2009
	(in thousands)
Cash paid for interest	$	26	$	4	$	50	$	116
Cash paid for income taxes	$	3,538	$	5,419	$	4,539	$	9,898

Non-cash financing activities during fiscal years ending 2012, 2011, 2010 and 2009 included the issuance of approximately 0.1 million, 0.3 million, 0.2 million shares and 0.1 million shares, respectively, of nonvested ModusLink Global Solutions common stock, valued at approximately $0.6 million, $1.9 million, $2.0 million and $0.8 million, respectively, to certain executives of the Company.

SEGMENT INFORMATION

12 Months Ended

Jul. 31, 2012

SEGMENT INFORMATION

(5)

SEGMENT INFORMATION

The Company has six operating segments: Americas; Asia; Europe; e-Business; ModusLink PTS and TFL. Based on the information provided to the Company’s chief operating decision-maker (“CODM”) for purposes of making decisions about allocating resources and assessing performance and quantitative thresholds, the Company has determined that it has four reportable segments: Americas; Asia; Europe and TFL. The Company reports the ModusLink PTS operating segment in aggregation with the Americas operating segment as part of the Americas reportable segment. In addition to its four reportable segments, the Company reports an All other category. The All other category represents the e-Business operating segment. The Company also has Corporate-level activity, which consists primarily of costs associated with certain corporate administrative functions such as legal and finance, which are not allocated to the Company’s reportable segments and administration costs related to the Company’s venture capital activities. The Corporate-level activity balance sheet information includes cash and cash equivalents, available-for-sale securities, investments and other assets, which are not identifiable to the operations of the Company’s operating segments.

Management evaluates segment performance based on segment net revenue, operating income (loss) and “adjusted operating income (loss)”, which is defined as the operating income (loss) excluding net charges related to depreciation, goodwill and long-lived asset impairment, restructuring, amortization of intangible assets and share-based compensation. These items are excluded because they may be considered to be of a non-operational or non-cash nature. Historically, the Company has recorded significant impairment and restructuring charges and therefore management uses adjusted operating income to assist in evaluating the performance of the Company’s core operations.

Summarized financial information of the Company’s continuing operations by operating segment is as follows:


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(in thousands)
Net revenue:
Americas	$	249,940		$	296,362		$	307,552		$	327,455
Asia		218,880			233,724			262,594			296,756
Europe		211,319			275,065			283,584			333,181
TFL		25,944			29,471			23,712			—
All other		33,808			39,126			41,003			44,588

	$	739,891		$	873,748		$	918,445		$	1,001,980

Operating income (loss):
Americas	$	(14,108	)	$	(29,984	)	$	(26,253	)	$	(98,896	)
Asia		21,450			29,168			47,364			(34,790	)
Europe		(15,718	)		(6,181	)		(4,865	)		(27,944	)
TFL		(11,032	)		(16,139	)		(12,244	)		—
All other		634			1,889			(2,933	)		2,120

Total segment operating income (loss)		(18,774	)		(21,247	)		1,069			(159,510	)
Other reconciling items		(27,119	)		(16,419	)		(14,038	)		(14,100	)

Total operating loss	$	(45,893	)	$	(37,666	)	$	(12,969	)	$	(173,610	)

Adjusted operating income (loss):
Americas	$	(7,675	)	$	(6,029	)	$	(3,644	)	$	(6,935	)
Asia		26,811			36,155			54,261			49,472
Europe		(6,061	)		198			(319	)		4,541
TFL		(8,781	)		(4,026	)		(1,226	)		—
All other		2,941			3,811			1,768			4,839

Total segment adjusted operating income (loss)		7,235			30,109			50,840			51,917
Other reconciling items		(25,285	)		(14,043	)		(11,594	)		(10,859	)

Total adjusted operating income (loss)	$	(18,050	)	$	16,066		$	39,246		$	41,058

Adjusted operating income (loss)	$	(18,050	)	$	16,066		$	39,246		$	41,058
Adjustments:
Depreciation		(14,057	)		(16,833	)		(16,918	)		(20,057	)
Amortization of intangible assets		(1,279	)		(5,457	)		(6,308	)		(5,485	)
Impairment of goodwill and long-lived assets		(2,062	)		(27,166	)		(25,800	)		(164,682	)
Share-based payments		(2,990	)		(3,481	)		(4,154	)		(5,103	)
Restructuring, net		(7,455	)		(795	)		965			(19,341	)

Operating loss	$	(45,893	)	$	(37,666	)	$	(12,969	)	$	(173,610	)
Other income (expense), net		10,329			4,350			(3,392	)		(15,068	)
Income tax expense		(3,035	)		(819	)		(5,162	)		(10,831	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126

Net loss	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)


	July 31,
	2012		2011 (As Restated)		2010 (As Restated)
	(in thousands)
Total assets of continuing operations:
Americas	$	101,931	$	121,481	$	186,643
Asia		111,660		125,059		113,820
Europe		105,472		120,422		135,135
TFL		2,750		11,029		23,256
All other		20,758		24,809		27,740

Sub-total		342,571		402,800		486,594
Corporate-level activity		16,311		19,447		39,347

	$	358,882	$	422,247	$	525,941

As of July 31, 2012, approximately 63%, 18% and 19% of the Company’s long-lived assets were located in the Americas, Asia and Europe, respectively. As of July 31, 2011, approximately 60%, 18% and 22% of the Company’s long-lived assets were located in the Americas, Asia and Europe, respectively. As of July 31, 2010, approximately 73%, 12% and 15% of the Company’s long-lived assets were located in the Americas, Asia and Europe, respectively. As of July 31, 2012, approximately $9.2 million, $4.8 million, $3.3 million, $2.3 million and $3.4 million of the Company’s long-lived assets were located in Singapore, Ireland, China, the Netherlands, and Czech Republic, respectively. As of July 31, 2011, approximately $10.7 million, $7.1 million, $5.4 million, $4.1 million and $3.7 million of the Company’s long-lived assets were located in Singapore, Ireland, the Netherlands, China, and Czech Republic, respectively. As of July 31, 2010, approximately $10.1 million, $6.8 million, $5.6 million, $3.6 million and $3.6 million of the Company’s long-lived assets were located in Singapore, Ireland, the Netherlands, China and Czech Republic, respectively.

The Company generated revenue of approximately $144.1 million and $107.0 million in China and the Netherlands, respectively, from external clients during the fiscal year ended July 31, 2012. The Company generated revenue of approximately $142.2 million and $124.0 million in China and the Netherlands, respectively, from external clients during the fiscal year ended July 31, 2011. The Company generated revenue of approximately $175.5 million and $132.7 million in China and the Netherlands, respectively, from external clients during the fiscal year ended July 31, 2010. The Company generated revenue of approximately $199.7 million and $161.0 million in China and the Netherlands, respectively, from external clients during the fiscal year ended July 31, 2009.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

DISCONTINUED OPERATIONS AND DIVESTITURES

DISCONTINUED OPERATIONS AND DIVESTITURES

12 Months Ended

Jul. 31, 2012

(6)

DISCONTINUED OPERATIONS AND DIVESTITURES

The Company recorded income from discontinued operations of approximately $0.5 million for the fiscal year ended July 31, 2012 primarily related to receipts from subleasing of a discontinued facility. The Company recorded income (loss) from discontinued operations of approximately $(0.3) million, $(2.3) million and $0.1 million, respectively, for the fiscal years ended July 31, 2011, 2010 and 2009, primarily related to net present value accretion on future lease payments and adjustments to previously recorded estimates for facility lease obligations based on changes to the underlying assumptions regarding rental income.

Summarized financial information for the discontinued operations of the Company are as follows:


	Years Ended July 31,
	2012			2011			2010			2009
	(in thousands)
Results of operations:
Net revenue	$	—		$	—		$	—		$	—
Other income		586			—			—			126
Total expenses		(95	)		(330	)		(2,318	)		—

Income (loss) from discontinued operations	$	491		$	(330	)	$	(2,318	)	$	126


	July 31,
	2012			2011			2010
	(in thousands)
Financial position:
Current assets	$	—		$	—		$	—
Current liabilities		(1,528	)		(1,817	)		(1,791	)
Non-current liabilities		(293	)		(1,883	)		(3,289	)

Net liabilities of discontinued operations	$	(1,821	)	$	(3,700	)	$	(5,080	)

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43-48
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

PROPERTY AND EQUIPMENT

12 Months Ended

Jul. 31, 2012

PROPERTY AND EQUIPMENT

(7)

PROPERTY AND EQUIPMENT

Property and equipment at cost, consists of the following:


	July 31,
	2012			2011 (As Restated)			2010 (As Restated)
	(in thousands)
Buildings	$	20,299		$	23,833		$	20,350
Machinery and equipment		18,565			22,122			24,245
Leasehold improvements		18,482			18,321			18,389
Software		40,461			39,743			37,970
Other		5,449			7,078			6,634

		103,256			111,097			107,588
Less: Accumulated depreciation and amortization		(62,484	)		(63,694	)		(54,527	)

Net property and equipment, at cost	$	40,772		$	47,403		$	53,061

Assets under capital leases which are included in the amounts above are summarized as follows:


	July 31,
	2012			2011 (As Restated)			2010 (As Restated)
	(in thousands)
Buildings	$	—		$	—		$	3,734
Machinery and equipment		445			449			411
Other		—			46			46
Less: Accumulated amortization		(275	)		(284	)		(3,937	)

	$	170		$	211		$	254

The Company recorded depreciation expense of approximately $14.1 million, $16.8 million, $16.9 million and $20.1 million for the fiscal years ended July 31, 2012, 2011, 2010 and 2009, respectively. Depreciation expense within the Americas, Asia, Europe, TFL and All other was approximately $4.3 million, $4.4 million, $4.5 million, $0.1 million and $0.8 million, respectively, for fiscal year 2012, $5.2 million, $4.6 million $6.0 million, $0.1 million and $0.9 million, respectively, for fiscal year 2011, $5.4 million, $5.0 million $5.7 million, $0.0 million and $0.8 million, respectively, for fiscal year 2010, and $7.0 million, $5.7 million $6.5 million, $0.0 million and $0.9 million, respectively, for fiscal year 2009. Amortization of assets recorded under capital leases is included in the depreciation expense amounts.

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jul. 31, 2012

(8)

GOODWILL AND INTANGIBLE ASSETS

The Company conducts its annual goodwill impairment test on July 31 of each fiscal year. In addition, if and when events or circumstances change that would more likely than not reduce the fair value of any of its reporting units below its carrying value, an interim test would be performed. In making this assessment, the Company relies on a number of factors including operating results, business plans, economic projections, anticipated future cash flows, transactions and marketplace data. The Company’s reporting units are the same as the operating segments: Americas, Asia, Europe, e-Business, ModusLink PTS and TFL.

During the third quarter of fiscal year 2012, indicators of potential impairment caused the Company to conduct an interim impairment test for the long-lived assets of TFL, which includes amortizable intangible assets. These indicators included continued operating losses and increasingly adverse trends that resulted in further deterioration of current operating results and future prospects of the TFL reporting unit. These adverse trends included increased competition for and a decline in the supply of quality products at a reasonable cost and the emergence and growth of new competitors for TFL.

As a result of the impairment test, in connection with the preparation of financial statements for the period ended April 30, 2012, the Company concluded that TFL’s long-lived assets were impaired and recorded a $0.9 million non-cash impairment charge. The $0.9 million impairment charge consisted of $0.5 million of intangible assets and $0.4 million of fixed assets. The intangible asset impairment charge for TFL is deductible as amortization for tax purposes over time. The impairment charge did not affect the Company’s liquidity or cash flows.

In addition, during the third quarter of fiscal year 2012, indicators of potential impairment caused the Company to conduct an interim impairment test for the fixed assets of its facility in Kildare, Ireland. These indicators included declining revenue and increasingly adverse trends that resulted in further deterioration of current operating results and future prospects of the Kildare facility. These adverse trends included declines in sales volumes resulting from the loss of certain client programs, pricing pressure from existing clients, and the emergence and growth of new competitors for the services performed in Kildare.

As a result of the impairment test, in connection with the preparation of financial statements for the period ended April 30, 2012, the Company concluded that Kildare’s fixed assets were impaired and recorded a $1.1 million non-cash impairment charge. This charge has been recorded as a component of “impairment of goodwill and long-lived assets” in the condensed consolidated statements of operations. The fixed asset impairment charge for Kildare is deductible as depreciation for tax purposes over time. The impairment charge did not affect the Company’s liquidity or cash flows.

The Company’s remaining goodwill of $3.1 million as of July 31, 2012 relates to the Company’s e-Business reporting unit. During the fourth quarter of fiscal year 2012, the Company completed its annual impairment analysis of goodwill. The Company concluded that its goodwill was not impaired as of July 31, 2012.

During the second quarter of fiscal year 2011, indicators of potential impairment caused the Company to conduct an interim impairment test for goodwill and other long-lived assets, which includes amortizable intangible assets for ModusLink PTS and TFL reporting units in connection with the preparation of its quarterly financial statements for the quarter ended January 31, 2011. These indicators included continued operating losses, the departure of key personnel, and increasingly adverse trends that resulted in further deterioration of current operating results and future prospects for both ModusLink PTS and TFL reporting units.

As a result of the 2011 interim impairment tests, in connection with the preparation of financial statements for the period ended January 31, 2011, the Company concluded that its goodwill was impaired and recorded a $13.2 million non-cash goodwill impairment charge, consisting of $7.1 million for ModusLink PTS and $6.1 million for TFL. Also in connection with the preparation of such financial statements, the Company determined that its intangible assets were impaired and recorded a $14.0 million non-cash intangible asset impairment charge, consisting of $8.8 million for ModusLink PTS and $5.2 million for TFL. The goodwill and intangible asset impairment charges for ModusLink PTS are not deductible for tax purposes. The goodwill and intangible asset impairment charges for TFL are deductible as amortization for tax purposes over time. The impairment charge did not affect the Company’s liquidity or cash flows.

In preparing the 2011 interim goodwill impairment test, the Company lowered its forecast of revenue growth and gross profit margins for ModusLink PTS and TFL for fiscal years 2011 to 2018. Revenue growth rates and gross profit margins are the variables which make the most significant impact to the discounted cash flow models for these reporting units. The decline in the forecasts for ModusLink PTS and TFL was attributable to our consideration of the operating losses for these reporting units during the first half of fiscal year 2011, the consideration of the impact that the departure of key personnel could have on our future operating results for these reporting units, and increasingly adverse trends that resulted in further deterioration of current and future operating results.

In connection with completing the 2011 interim goodwill impairment analysis, the Company also evaluated the recoverability of its long-lived assets at the ModusLink PTS and TFL reporting units. The asset groups for both ModusLink PTS and TFL are at the reporting unit level. Recoverability of these asset groups is determined by comparing forecasted undiscounted net cash flows of the reporting units to their respective carrying values. If the asset group’s cash flows are determined to be unable to recover the carrying amount of its net assets, then a loss is recognized equal to the amount by which the asset’s carrying value exceeds its fair value. The loss is then allocated amongst the long-lived assets based on their relative carrying amounts, with the exception that a loss allocated to an individual asset should not reduce the carrying amount of that asset below its fair value. Based upon this evaluation, the Company determined that the estimated future undiscounted cash flows related to these asset groups was below their carrying values, and therefore these asset groups were impaired.

During the fourth quarter of fiscal year 2010, the Company completed its annual impairment analysis of goodwill. The Company completed step one of the impairment analysis. As a result of the annual impairment analysis and in connection with the preparation of its annual financial statements for the fiscal year ended July 31, 2010 the Company concluded that its goodwill was impaired and recorded a $25.8 million non-cash goodwill impairment charge, consisting of $2.8 million for e-Business, $12.8 million for ModusLink PTS and $10.2 million for TFL. The impairment charge for e-Business and ModusLink PTS is not deductible for tax purposes. The impairment charge for TFL is deductible as amortization for tax purposes over time. The impairment charge did not affect the Company’s liquidity or cash flows and had no effect on the Company’s compliance with the financial covenants under its credit agreement.

In connection with completing the 2010 goodwill impairment analysis, the Company also evaluated the recoverability of its long-lived assets at the e-Business, ModusLink PTS and TFL reporting units where goodwill was determined to be impaired. Based upon this evaluation, the Company determined that the estimated future undiscounted cash flows related to these assets were in excess of their carrying values, and therefore these long-lived assets were not impaired as of July 31, 2010.

During the second quarter of fiscal year 2009, indicators of potential impairment caused the Company to conduct an interim impairment test as of January 31, 2009. Those indicators included a significant decrease in the market capitalization of the Company, and the change in the macroeconomic environment through the second quarter of fiscal year 2009. The Company completed step one of the impairment analysis and concluded that, as of January 31, 2009, the fair value of three of its five reporting units was below their respective carrying values. As part of the step one test, the Company performed a market capitalization reconciliation to ensure that the resulting outputs of the test and the total Company fair value were consistent, giving effect to a reasonable control premium, 35%. The three reporting units that showed potential impairment were the Americas, Asia and Europe. As such, the Company performed step two of the impairment test and in connection with the preparation of its quarterly financial statements for the quarter ended January 31, 2009 the Company concluded that its goodwill was impaired and recorded a $164.7 million non-cash goodwill impairment charge, consisting of $74.6 million for the Americas, $73.9 million for Asia and $16.1 million for Europe. The estimated fair values of our reporting units were evaluated using an income approach by calculating the present value of our estimated future cash flows.

The estimated fair values of our reporting units for the goodwill impairment test were evaluated using an income approach by calculating the present value of estimated future cash flows. We believe the use of the income approach is appropriate due to lack of comparability to guideline companies and the lack of comparable transactions under the market approach. The income approach incorporates many assumptions including future growth rates, discount factors, expected capital expenditures and income tax cash flows. In developing an appropriate discount rate to apply in its estimated cash flow models the Company developed an estimate of its weighted-average cost of capital.

The changes in the carrying amount of goodwill allocated to the Company’s operating segments are as follows:


	Americas			Asia			Europe			TFL			All Other			Consolidated Total
	(in thousands)
Balance as of July 31, 2009
Goodwill	$	94,477		$	73,948		$	30,108		$	—		$	5,857			204,390
Accumulated impairment charges		(74,626	)		(73,948	)		(30,108	)		—			—			(178,682	)

	$	19,851		$	—		$	—		$	—		$	5,857		$	25,708

Goodwill from the acquisition of TFL		—			—			—			16,299			—			16,299
Impairment of goodwill		(12,801	)		—			—			(10,200	)		(2,799	)		(25,800	)

Balance as of July 31, 2010
Goodwill	$	94,477		$	73,948		$	30,108		$	16,299		$	5,857			220,689
Accumulated impairment charges		(87,427	)		(73,948	)		(30,108	)		(10,200	)		(2,799	)		(204,482	)

	$	7,050		$	—		$	—		$	6,099		$	3,058		$	16,207

Impairment of goodwill		(7,050	)		—			—			(6,099	)		—			(13,149	)
Balance as of July 31, 2011
Goodwill		94,477			73,948			30,108			16,299			5,857			220,689
Accumulated impairment charges		(94,477	)		(73,948	)		(30,108	)		(16,299	)		(2,799	)		(217,631	)

	$	—		$	—		$	—		$	—		$	3,058		$	3,058

Balance as of July 31, 2012
Goodwill		94,477			73,948			30,108			16,299			5,857			220,689
Accumulated impairment charges		(94,477	)		(73,948	)		(30,108	)		(16,299	)		(2,799	)		(217,631	)

	$	—		$	—		$	—		$	—		$	3,058		$	3,058

The components of intangible assets are as follows (in thousands):


	July 31, 2012								July 31, 2011
	Gross Carryin gAmount		Accumulated amortization/ impairment		Net Book Value		Weighted average amortization period		Gross Carrying Amount		Accumulated amortization/ impairment		Net Book Value		Weighted average amortization period
Client Relationships	$	34,500	$	32,847	$	1,653		7 years	$	34,500	$	32,215	$	2,285		7 years
Developed Technology		13,992		12,990		1,002		3 to 7 years		13,992		12,211		1,781		3 to 7 years
Trade Names		5,405		5,174		231		3 to 7 years		5,405		4,801		604		3 to 7 years
Non-competes		713		702		11		1 to 5 years		713		684		29		1 to 5 years

Total	$	54,610	$	51,713	$	2,897			$	54,610	$	49,911	$	4,699


	July 31, 2010
	Gross Carrying Amount		Accumulated amortization/ impairment		Net Book Value		Weighted average amortization period
Client Relationships	$	34,500	$	21,503	$	12,997		7 to 10 years
Developed Technology		13,992		5,638		8,354		3 to 8 years
Trade Names		5,405		2,800		2,605		3 to 8 years
Non-competes		713		496		217		1 to 5 years

Total	$	54,610	$	30,437	$	24,173

Amortization expense for intangible assets for the fiscal years ended July 31, 2012, 2011, 2010 and 2009 totaled approximately $1.3 million, $5.5 million, $6.3 million and $5.5 million, respectively.

Estimated annual amortization expense for intangible assets for the next three years ending July 31, is as follows:


Fiscal Year	Amount
	(in thousands)
2013	$	1,133
2014	$	1,098
2015	$	666

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

RESTRUCTURING

12 Months Ended

Jul. 31, 2012

RESTRUCTURING

(9)

RESTRUCTURING

The following tables summarize the activity in the restructuring accrual for the fiscal years ended July 31, 2012, 2011, 2010 and 2009:


	Employee Related Expenses			Contractual Obligations			Asset Impairments			Total
	(in thousands)
Accrued restructuring balance at July 31, 2008, as restated	$	1,848		$	8,063		$	—		$	9,911

Restructuring charges, as restated		16,292			5,080			389			21,761
Restructuring adjustments		(2,858	)		438			—			(2,420	)
Cash paid		(8,378	)		(3,550	)		—			(11,928	)
Non-cash adjustments		(62	)		(229	)		(389	)		(680	)

Accrued restructuring balance at July 31, 2009, as restated	$	6,842		$	9,802		$	—		$	16,644

Restructuring charges, as restated		54			690			—			744
Restructuring adjustments		(612	)		(1,097	)		—			(1,709	)
Cash paid		(6,103	)		(6,221	)		—			(12,324	)
Non-cash adjustments		—			277			—			277

Accrued restructuring balance at July 31, 2010	$	181		$	3,451		$	—		$	3,632

Restructuring charges		1,099			—			—			1,099
Restructuring adjustments		53			(357	)		—			(304	)
Cash paid		(1,081	)		(1,926	)		—			(3,007	)
Non-cash adjustments		44			—			—			44

Accrued restructuring balance at July 31, 2011	$	296		$	1,168		$	—		$	1,464

Restructuring charges		6,218			1,537			—			7,755
Restructuring adjustments		(439	)		139			—			(300	)
Cash paid		(5,405	)		(1,854	)		—			(7,259	)
Non-cash adjustments		(44	)		108			—			64

Accrued restructuring balance at July 31, 2012	$	626		$	1,098		$	—		$	1,724

It is expected that the payments of employee-related charges will be substantially completed during the fiscal year ending July 31, 2013. The remaining contractual obligations primarily relate to facility lease obligations for vacant space resulting from the previous restructuring activities of the Company. The Company anticipates that contractual obligations will be substantially fulfilled by April 2013.

During the fiscal year ended July 31, 2012 the Company recorded a net restructuring charge of approximately $7.5 million. Of this amount, approximately $6.2 million primarily related to the workforce reduction of 357 employees in the Americas, Asia, and Europe, approximately $1.5 million related to contractual obligations related to facility closure at the Raleigh facility and the TFL facility in Colorado Springs. These restructuring charges were partially offset by approximately $0.3 million in reductions to initial estimates for recorded employee-related expenses and facilities lease obligations primarily based on changes in underlying assumptions.

During the fiscal year ended July 31, 2011 the Company recorded a net restructuring charge of approximately $0.8 million. Of this amount, approximately $1.2 million primarily related to the workforce reduction of 55 employees in the Americas and Asia and approximately $(0.4) million of the recorded net restructuring charge related to changes in estimates for previously recorded facilities lease obligations primarily based on changes to the underlying assumptions.

The Company’s restructuring charges during the fiscal year ended July 31, 2010 primarily related to changes in estimates for previously recorded facilities lease obligations primarily based on changes to the underlying assumptions, an early termination payment of a lease in Hungary and the reversal of an amount due to a lapse of time under a prior agreement. The Company’s restructuring initiatives during the fiscal years ended July 31, 2009 and 2008 involved strategic decisions to right-size the Company and reduce costs. Restructuring charges consisted primarily of contractual obligations related to facilities and equipment, and employee severance charges as a result of workforce reductions. The Company records charges related to operating leases with no future economic benefit to the Company as a result of the closure of facilities.

During the fiscal year ended July 31, 2009, the Company recorded a net restructuring charge of approximately $19.3 million. This charge consisted of approximately $15.8 million related to the workforce reduction of approximately 550 employees across the Company. The charges also consist of approximately $5.6 million relating to the shutdown of facilities in El Paso, TX, Nashville, TN, Juarez, Mexico, San Jose, CA, Angers, France and Budapest, Hungary and a $0.4 million charge for the impairment of fixed assets at the location in El Paso, TX. All actions related to the fiscal year 2009 workforce reductions were completed by July 31, 2010. These restructuring charges were partially offset by approximately $2.4 million of adjustments to reduce initial estimates of restructuring charges for certain employee-related expenses and facilities lease obligations based on changes to the underlying assumptions.

As previously discussed, the restated financial statements also include adjustments to correct certain other immaterial errors, including previously unrecorded immaterial adjustments identified in audits of prior years’ financial statements. The Company recorded a $0.3 million reduction in its accrued restructuring balance as of July 31, 2008 and a $0.2 million reduction in restructuring expense for the fiscal year ended July 31, 2009 which resulted from shifting of contractual obligation expenses from years prior to fiscal year 2010 to fiscal year 2010.

The net restructuring charges for the fiscal years ended July 31, 2012, 2011, 2010 and 2009 would have been allocated as follows had the Company recorded the expense and adjustments within the functional department of the restructured activities:


	July 31,
	2012		2011		2010 (As Restated)			2009 (As Restated)
	(in thousands)
Cost of revenue	$	3,960	$	437	$	(838	)	$	14,220
Selling, general and administrative		3,495		358		(127	)		5,121

	$	7,455	$	795	$	(965	)	$	19,341

The following tables summarize the restructuring accrual by operating segment, the all other category and the corporate-level activity category for the fiscal years ended July 31, 2012, 2011, 2010, and 2009:


	Americas			Asia			Europe			TFL			All other			Corporate- level Activity			Consolidated Total
	(in thousands)
Accrued restructuring balance at July 31, 2008, as restated	$	4,437		$	174		$	5,056		$	—		$	—		$	244		$	9,911

Restructuring charges, as restated		7,660			2,204			11,001			—			644			252			21,761
Restructuring adjustments		165			(163	)		(2,422	)		—			—			—			(2,420	)
Cash paid		(3,946	)		(1,805	)		(5,901	)		—			(240	)		(36	)		(11,928	)
Non-cash adjustments		(680	)		—			—			—			—			—			(680	)

Accrued restructuring balance at July 31, 2009, as restated	$	7,636		$	410		$	7,734		$	—		$	404		$	460		$	16,644

Restructuring charges, as restated		468			43			222			—			—			11			744
Restructuring adjustments		367			(108	)		(1,929	)		—			(12	)		(27	)		(1,709	)
Cash paid		(5,600	)		(345	)		(5,543	)		—			(392	)		(444	)		(12,324	)
Non-cash adjustments		277			—			—			—			—			—			277

Accrued restructuring balance at July 31, 2010	$	3,148		$	—		$	484		$	—		$	—		$	—		$	3,632

Restructuring charges		501			593			5			—			—			—			1,099
Restructuring adjustments		(303	)		(7	)		6			—			—			—			(304	)
Cash paid		(1,993	)		(586	)		(428	)		—			—			—			(3,007	)
Non-cash adjustments		(7	)		—			51			—			—			—			44

Accrued restructuring balance at July 31, 2011	$	1,346		$	—		$	118		$	—		$	—		$	—		$	1,464

Restructuring charges		1,706			702			3,766			1,039			542			—			7,755
Restructuring adjustments		(94	)		(56	)		(85	)		—			(65	)		—			(300	)
Cash paid		(1,933	)		(647	)		(3,690	)		(855	)		(134	)		—			(7,259	)
Non-cash adjustments		61			1			(58	)		60			—			—			64

Accrued restructuring balance at July 31, 2012	$	1,086		$	—		$	51		$	244		$	343		$	—		$	1,724

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

@VENTURES INVESTMENTS

12 Months Ended

Jul. 31, 2012

@VENTURES INVESTMENTS

(10)

@VENTURES INVESTMENTS

The Company maintains interests in several privately held companies primarily through its interests in two venture capital funds which invest as “@Ventures.” The Company invests in early stage technology companies. These investments are generally made in connection with a round of financing with other third-party investors.

During the fiscal year ended July 31, 2012, 2011, 2010 and 2009, approximately $2.9 million, $3.5 million, $3.4 million, and $9.5 million, respectively was invested by @Ventures in privately held companies. At July 31, 2012, 2011, and 2010, the Company’s carrying value of investments in privately held companies was approximately $10.8 million, $12.0 million, and $13.0 million, respectively. During the fiscal years ended July 31, 2012, 2011, 2010, and 2009, the Company recorded $2.9 million, $2.5 million, $0.3 million, and $16.8 million, respectively, of impairment charges related to certain investments in the @Ventures portfolio of companies. During the fiscal year ended July 31, 2012, @Ventures did not receive any material distributions from its investments. During the fiscal years ended July 31, 2011, 2010, and 2009, @Ventures received distributions of approximately $0.2 million, $1.3 million, and $18.0 million, respectively.

Investments in which the Company’s interest is less than 20% and which are not classified as available-for-sale securities are carried at the lower of cost or net realizable value unless it is determined that the Company exercises significant influence over the investee company, in which case the equity method of accounting is used. For those investments in which the Company’s voting interest is between 20% and 50%, the equity method of accounting is generally used. Under this method, the investment balance, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the investee company as they occur, limited to the extent of the Company’s investment in, advances to and commitments for the investee. These adjustments are reflected in “Equity in losses of affiliates and impairments” in the Company’s Consolidated Statement of Operations. For the fiscal years ended July 31, 2012, 2011 and 2010, the Company recorded its proportionate share of the affiliates’ losses of $1.2 million, $1.8 million, and $1.8 million, respectively. For the fiscal years ended July 31, 2009, equity in income of affiliates of $0.2 million was recognized by the Company as its portion of the net income of certain affiliate companies.

The Company assesses the need to record impairment losses on its investments and records such losses when the impairment of an investment is determined to be other than temporary in nature. The process of assessing whether a particular investment’s net realizable value is less than its carrying cost requires a significant amount of judgment. In making this judgment, the Company carefully considers the investee’s cash position, projected cash flows (both short and long-term), financing needs, recent financing rounds, most recent valuation data, the current investing environment, management/ownership changes and competition. The valuation process is based primarily on information that the Company requests from these privately held companies and is not subject to the same disclosure and audit requirements as the reports required of U.S. public companies. As such, the reliability and the accuracy of the data may vary.

During the three months ended April 30, 2012, the Company became aware that there may be indicators of impairment for a certain investment in the @Ventures portfolio of companies. The Company completed its evaluation for impairment in connection with the preparation of the financial statements for the quarter ended April 30, 2012 and determined that the investment was impaired. As a result, the Company recorded an impairment charge of approximately $2.8 million during the quarter ended April 30, 2012.

As of July 31, 2012, the Company, through @Ventures held investments in nine portfolio companies, although investments in four of these companies are nominal. From time to time, the Company may make new and follow-on venture capital investments and may from time to time receive distributions from investee companies. As of July 31, 2012, the Company intended to fund approximately $1.0 million in one of the @Ventures portfolio companies for a follow-on investment.

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES

12 Months Ended

Jul. 31, 2012

(11)

OTHER CURRENT LIABILITIES

The following schedule reflects the components of “Other Current Liabilities”:


	July 31,
	2012		2011 (As Restated)		2010 (As Restated)
	(in thousands)
Accrued Pricing Liabilities	$	20,397	$	30,706	$	42,282
Other		6,381		7,918		5,367

	$	26,778	$	38,624	$	47,649

As of July 31, 2012, 2011 and 2010, the Company recorded accrued pricing liabilities of approximately $20.4 million, $30.7 million and $42.3 million. These liabilities related to the equivalent reduction of revenue where the retention of a rebate or a mark-up was determined to have been inconsistent with a client contract. The remaining accrued pricing liabilities at July 31, 2012 will be derecognized when there is sufficient information for the Company to conclude that such liabilities have been extinguished, which may occur through payment, legal release, or other legal or factual determination.

OTHER GAINS (LOSSES), NET

12 Months Ended

Jul. 31, 2012

OTHER GAINS (LOSSES), NET

(12)

OTHER GAINS (LOSSES), NET

The following schedule reflects the components of “Other gains (losses), net”:


	Years Ended July 31,
	2012			2011 (As Restated)			2010			2009
	(in thousands)
Derecognition of accrued pricing liabilities	$	11,811		$	13,545		$	—		$	—
Foreign currency exchange gains (losses)		2,948			(4,023	)		(977	)		(1,560	)
Gain on sale of investments		9			187			425			3,956
Impairment of investment		—			(67	)		—			(975	)
Loss on disposal of assets		(7	)		(14	)		(264	)		(308	)
Other, net		(330	)		(746	)		(172	)		(293	)

	$	14,431		$	8,882		$	(988	)	$	820

During the fiscal years ended July 31, 2012 and 2011, the Company recorded gains from the derecognition of accrued pricing liabilities of approximately $11.8 million and $13.5 million, respectively. No gains were recorded from the derecognition of accrued pricing liabilities during the fiscal years ended July 31, 2010 and 2009. The Company recorded foreign exchange gains (losses) of approximately $2.9 million, $(4.0) million, $(1.0) million, and $(1.6) million during the fiscal year ended July 31, 2012, 2011, 2010, and 2009, respectively. These net gains and losses related primarily to realized and unrealized losses from foreign currency exposures and settled transactions in the Americas, Asia and Europe.

During the fiscal year ended July 31, 2011, the Company recorded a gain of approximately $0.2 million on investments. Approximately $0.1 million of the gain related to the sale of available-for-sale securities and approximately $0.1 million of the gain related to the distribution of proceeds from the acquisition by third parties of H2Gen Innovations, Inc. and M2E Power, Inc. due to the satisfaction of conditions leading to the release of funds held in escrow.

During the fiscal year ended July 31, 2010, the Company recorded a gain of approximately $0.3 million related to the acquisition by third parties of M2E Power, Inc. and H2Gen Innovations, Inc. Additionally, during the fiscal year ended July 31, 2010, the Company recorded a gain of approximately $0.1 million to adjust a previously recorded gain on the acquisition by a third party of Virtual Ink, Inc. due to the satisfaction of conditions leading to the release of funds held in escrow. The Company also recorded a loss of $0.3 million from the disposal of assets during the fiscal year ended July 31, 2010.

During the fiscal year ended July 31, 2009, the Company recorded a gain of approximately $2.6 million related to the acquisition by a third party of the ownership interest held by @Ventures in Foodbuy, LLC. Additionally, gains of approximately $0.9 million and $0.5 million, respectively were recorded to adjust previously recorded gains on the acquisitions by third parties of The Generations Network, Inc. (“TGN”) and Avamar Technologies, Inc. (“Avamar”), due to the satisfaction of conditions leading to the release of funds held in escrow. TGN and Avamar were @Ventures portfolio companies that were acquired by third parties in previous reporting periods. Also, during the year ended July 31, 2009, the Company recorded a write-off of an investment in a private company for $1.0 million. The $1.0 million write-off was due to the carrying value of the investment exceeding the estimated value of the investment. The Company also recorded a loss of $0.3 million from the disposal of assets.

BORROWING ARRANGEMENTS

12 Months Ended

Jul. 31, 2012

BORROWING ARRANGEMENTS

(13)

BORROWING ARRANGEMENTS

During fiscal year 2010, the Company and certain of its domestic subsidiaries entered into an Amended and Restated Credit Agreement (the “Credit Facility”) with Bank of America, N.A., Silicon Valley Bank and HSBC Business Credit (USA) Inc. (collectively, the “Lenders”), whereby the Lenders provided to the Company a senior secured revolving credit facility up to an initial aggregate principal amount of $40.0 million. The Credit Facility permitted the Company to increase the aggregate principal amount by an additional $20.0 million upon certain conditions being met. The Credit Facility amended and restated the Second Amended and Restated Loan and Security Agreement, dated October 31, 2005, as amended, which expired on January 31, 2010. For the quarter ended April 30, 2012, the Company violated the minimum consolidated EBITDA covenant contained in the Credit Facility. On August 16, 2012, the Company entered into an amendment to the Credit Facility which eliminated the maximum consolidated leverage ratio covenant and the minimum consolidated EBITDA covenant and modified the minimum global cash covenant. See Note 23, Subsequent Events, of the Notes to the Consolidated Financial Statements in this Annual Report for additional description of the amendment to the Credit Facility as well as a description of a Credit Agreement entered into with Wells Fargo Bank, National Association as lender and agent for the lenders party thereto on October 31, 2012.

As of July 31, 2012, there were no borrowings outstanding under the Credit Facility. As of July 31, 2012 the Company had $0.2 million for letters of credit under the Credit Facility.

In addition, the Company maintains a credit facility of approximately $1.0 million with a Taiwanese bank. As of July 31, 2012, $34 thousand was outstanding under this facility.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jul. 31, 2012

COMMITMENTS AND CONTINGENCIES

(14)

COMMITMENTS AND CONTINGENCIES

The Company leases facilities and certain other machinery and equipment under various non-cancelable operating leases and executory contracts expiring through December 2021. Certain non-cancelable leases are classified as capital leases and the leased assets are included in property, plant and equipment, at cost. Future annual minimum payments, including restructuring related obligations as of July 31, 2012, are as follows:


	Operating Leases		Stadium Obligation		Capital Lease Obligations		Total
	(in thousands)
For the fiscal years ended July 31:
2013	$	23,893	$	2,400	$	78	$	26,371
2014		14,971		1,600		30		16,601
2015		9,922		1,600		14		11,536
2016		6,528		—		15		6,543
2017		4,271		—		5		4,276
Thereafter		12,884		—		—		12,884

	$	72,469	$	5,600	$	142	$	78,211

Total future minimum lease payments have been reduced by future minimum sublease rentals of approximately $87 thousand. Capital lease obligations are net of interest.

Total rent and equipment lease expense charged to continuing operations was approximately $26.5 million, $29.2 million, $29.1 million, and $31.1 million for the fiscal years ended July 31, 2012, 2011, 2010 and 2009, respectively.

In August 2000, the Company announced it had acquired the exclusive naming and sponsorship rights to the New England Patriots’ new stadium, for a period of fifteen years. In August 2002, the Company finalized an agreement with the owner of the stadium to amend the sponsorship agreement. Under the terms of the amended agreement, the Company relinquished the stadium naming rights and remains obligated for a series of annual payments of $1.6 million per year through 2015. The Company applied a discount rate to the future payment stream to reflect the present value of its obligation on the Consolidated Balance Sheet.

From time to time, the Company agrees to provide indemnification to its clients in the ordinary course of business. Typically, the Company agrees to indemnify its clients for losses caused by the Company. As of July 31, 2012, the Company had no recorded liabilities with respect to these arrangements.

Legal Proceedings

On February 15, 2012, the staff of the Division of Enforcement of the SEC initiated with the Company an informal inquiry, and later a formal action, regarding the Company’s treatment of rebates associated with volume discounts provided by vendors. To date, the SEC has not asserted any formal claims.

Following the June 11, 2012 announcement of the pending restatement (the “June 11, 2012 Announcement”), shareholders of the Company commenced three purported class actions in the United States District Court for the District of Massachusetts arising from the circumstances described in the June 11, 2012 Announcement (the “Securities Actions”), entitled, respectively:

Irene Collier, Individually And On Behalf Of All Others Similarly Situated, vs. ModusLink Global Solutions, Inc., Joseph C. Lawler and Steven G. Crane, Case 1:12-CV-11044-DJC, filed June 12, 2012 (the “Collier Action”);

Alexander Shnerer Individually And On Behalf Of All Others Similarly Situated, vs. ModusLink Global Solutions, Inc., Joseph C. Lawler and Steven G. Crane, Case 1:12-CV-11078-DJC, filed June 18, 2012 (the “Shnerer Action”); and

Harold Heszkel, Individually and on Behalf of All Others Similarly Situated v. ModusLink Global Solutions, Inc., Joseph C. Lawler, and Steven G. Crane, Case 1:12-CV-11279-DJC, filed July 11, 2012 (the “Heszkel Action”).

Each of the Securities Actions purports to be brought on behalf of those persons who purchased shares of the Company between September 26, 2007 through and including June 8, 2012 (the “Class Period”) and alleges that failure to timely disclose the issues raised in the June 11, 2012 Announcement during the Class Period rendered defendants’ public statements concerning the Company’s financial condition materially false and misleading in violation of Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated thereunder.

On July 13, 2012, a fourth shareholder commenced a purported derivative action in United States District Court for the District of Massachusetts against the Company (as nominal defendants), and certain of its current and former directors and officers, entitled, Samuel Montini, Derivatively On Behalf Of ModusLink Global Solutions, Inc. v. Joseph C. Lawler, Steven G. Crane, Francis J. Jules, Virginia G. Breen, Michael J. Mardy, Edward E. Lucente, Jeffrey J. Fenton, Joseph M. O’Donnell, William R. McLennan, Thomas H. Johnson, And Anthony J. Bay, Defendants, And ModusLink Global Solutions, Inc., A Delaware Corporation, Nominal Defendant, Case 1:12-CV-11296-DJC and on July 31, 2012, a fifth shareholder commenced a purported derivative action in United States District Court for the District of Massachusetts against the Company (as nominal defendants), and certain of its current and former directors and officers, entitled, Edward Tansey, Derivatively On Behalf Of ModusLink Global Solutions, Inc. v. Joseph C. Lawler, Steven G. Crane, Francis J. Jules, Virginia G. Breen, Michael J. Mardy, Edward E. Lucente, Jeffrey J. Fenton, Joseph M. O’Donnell, William R. McLennan, Thomas H. Johnson, And Anthony J. Bay, Defendants, And ModusLink Global Solutions, Inc., A Delaware Corporation, Nominal Defendant, Civil Action No. 12-CV-11399 (DJC) (collectively, the “Derivative Actions”). The Derivative Actions further assert that as a result of the individual defendants’ alleged actions and course of conduct, the Company is now the subject of the Securities Actions and will incur related expenses and a possible judgment against it. These litigation matters also arise from the issues raised in the June 11, 2012 Announcement and allege that the individual defendants breached their duty of loyalty to the Company by allowing defendants to cause, or by themselves causing, the Company to make improper statements regarding its business prospects and/or by failing to prevent the other Individual Defendants from taking such purportedly illegal actions.

Although there can be no assurance as to the ultimate outcome, the Company believes it has meritorious defenses, will deny liability, and intends to defend this litigation vigorously.

On October 10, 2012, a sixth shareholder, Donald Reith, served upon the Company’s Board of Directors a demand to institute litigation and take other purportedly necessary, but unidentified, remedial measures to redress and prevent a recurrence of purported breaches of fiduciary duties on the part of the Board and unspecified corporate officers allegedly arising from the same facts and circumstances asserted in the Derivative Actions.

From time to time, we may become involved in litigation relating to claims arising from operations in the normal course of business, which we consider routine and incidental to our business. We currently are not a party to any legal proceedings, the adverse outcome of which, in management’s opinion, would have a material adverse effect on our business, results of operation or financial condition.

The entire disclosure for commitments and contingencies.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

SHARE-BASED PAYMENTS

12 Months Ended

Jul. 31, 2012

SHARE-BASED PAYMENTS

(15)

SHARE-BASED PAYMENTS

Stock Option Plans

During the fiscal year ended July 31, 2012, the Company had awards for stock options under five plans: the 2004 Stock Incentive Plan (the “2004 Plan”), the 2002 Non-Officer Employee Stock Incentive Plan (the “2002 Plan”), the 2000 Stock Incentive Plan (the “2000 Plan”), the 2005 Non-Employee Director Plan (the “2005 Plan”) and the 2010 Incentive Award Plan (the “2010 Plan”). Options granted under the 2010 Plan, 2004 Plan, 2002 Plan and the 2000 Plan are generally exercisable as to 25% of the shares underlying the options beginning one year after the date of grant, with the option being exercisable as to the remaining shares in equal monthly installments over the next three years. Stock options granted under these plans have contractual terms of seven years. The Company may also grant awards other than stock options under the 2010 Plan.

In December 2010, at the Company’s Annual Meeting of Stockholders, the stockholders of the Company approved the 2010 Plan, pursuant to which the Company may grant stock options, stock appreciation rights, restricted stock awards and other equity-based awards for the issuance of (i) 5,000,000 shares of common stock of the Company plus (ii) the number of shares subject to outstanding awards under the Company’s 2000 Plan, 2002 Plan and 2004 Plan (collectively, the “Prior Plans”) that expire or are forfeited following December 8, 2010, the effective date of the 2010 Plan. As of December 8, 2010, the Company ceased making any further awards under its Prior Plans. As of December 8, 2010, the effective date of the 2010 Plan, there were an additional 2,922,258 shares of Common Stock underlying equity awards issued under the Company’s Prior Plans. This amount represents the maximum number of additional shares that may be added to the 2010 Plan should these awards expire or be forfeited subsequent to December 8, 2010. Any awards that were outstanding under the Prior Plans as of the effective date continued to be subject to the terms and conditions of such Prior Plan. As of July 31, 2012, 4,745,581 shares were available for future issuance under the 2010 Plan.

In December 2005, at the Company’s Annual Meeting of Stockholders, the stockholders of the Company approved the 2005 Plan, pursuant to which the Company may grant non-qualified stock options to certain members of the Board of Directors. The 2005 Plan replaced the Company’s Amended and Restated 1999 Stock Option Plan for Non-Employee Directors (“1999 Plan”). No additional options will be granted under the 1999 Plan; however, all then outstanding options under the 1999 Plan remained in effect in accordance with their respective terms. Pursuant to the 1999 Plan, 200,000 shares of the Company’s common stock were initially reserved for issuance. Up to 200,000 shares of common stock may be issued pursuant to awards granted under the 2005 Plan (subject to adjustment in the event of stock splits and other similar events). Prior to December 8, 2010, the Plan provided that each eligible director would automatically be granted an option to acquire 20,000 shares of Common Stock (the “Initial Option”) upon election to the Board. Each director who ceased to be an Affiliated Director (as defined in the 2005 Plan) and was not otherwise an employee of the Company or any of its subsidiaries or affiliates would be granted, on the date such director ceased to be an Affiliated Director but remained as a member of the Board of Directors, an Initial Option to acquire 20,000 shares of Common Stock under the 2005 Plan. Each Initial Option vests and becomes exercisable on a monthly basis as to 1/36th of the number of shares of Common Stock originally subject to the option on each monthly anniversary of the date of grant, provided that the optionee serves as a director on such monthly anniversary date. On December 8, 2010, the Board of Directors amended the 2005 Plan to eliminate the Initial Option. Prior to September 23, 2009, the 2005 Plan also provided that on the date of each annual meeting of stockholders of the Company, each eligible Director who was both serving as Director immediately prior to and immediately following such annual meeting, and who had served on the Board for at least six months, would automatically be granted an option to purchase 2,400 shares of Common Stock (an “Annual Option”). Each Annual Option vests and becomes exercisable on a monthly basis as to 1/36th of the number of shares originally subject to the option on each monthly anniversary of the date of grant, provided that the optionee serves as a Director on such monthly anniversary date. On September 23, 2009, the Board of Directors amended the 2005 Plan to eliminate the Annual Option. Stock options granted under the 2005 Plan have contractual terms of 10 years. Due to the amendments to the 2005 Plan, the Company no longer issues shares under the 2005 Plan.

The Board of Directors administers all stock plans, approves the individuals to whom options will be granted, and determines the number of shares and exercise price of each option and may delegate this authority to a committee of the Board or to certain officers of the Company in accordance with SEC regulations and applicable Delaware law.

Employee Stock Purchase Plan

On October 4, 1994, the Board of Directors of the Company adopted the 1995 Employee Stock Purchase Plan, as amended (the “ESPP”). During fiscal year 2002, the ESPP was amended to increase the aggregate number of shares that may be issued from the ESPP to 300,000 shares. In December 2009, at the Company’s Annual Meeting of Stockholders, the stockholders of the Company approved an amendment to the ESPP to increase the aggregate number of shares that may be issued from the plan to 600,000 shares. Approximately 222,000 shares are available for future issuance as of July 31, 2012. Under the ESPP, employees who elect to participate in the ESPP instruct the Company to withhold a specified amount through payroll deductions during each quarterly period. On the last business day of each applicable quarterly payment period, the amount withheld is used to purchase the Company’s common stock at a purchase price equal to 85% of the lower of the market price on the first or last business day of the quarterly period. During the fiscal years ended July 31, 2012, 2011, 2010, and 2009 the Company issued approximately 23,000, 34,000, 39,000, and 35,000 shares, respectively, under the ESPP.

Stock Option Valuation and Expense Information under ASC Topic 718

The following table summarizes share-based compensation expense related to employee stock options, employee stock purchases and nonvested shares for the fiscal years ended July 31, 2012, 2011, 2010, and 2009:


	Years Ended July 31,
	2012		2011		2010		2009
	(in thousands)
Cost of revenue	$	344	$	374	$	337	$	392
Selling, general and administrative		2,646		3,107		3,817		4,711

	$	2,990	$	3,481	$	4,154	$	5,103

The Company estimates the fair value of stock option awards on the date of grant using a binomial-lattice model. The weighted-average grant date fair value of employee stock options granted during the fiscal years ended July 31, 2012, 2011, 2010, and 2009 was $1.98, $2.97, $3.73, and $3.22, respectively, using the binomial-lattice model with the following weighted-average assumptions:


	Years Ended July 31,
	2012			2011			2010			2010
Expected volatility		59.56	%		62.64	%		65.77	%		56.64	%
Risk-free interest rate		0.84	%		0.99	%		1.88	%		2.34	%
Expected term (in years)		4.66			4.27			4.08			4.08
Expected dividend yield		0.00	%		0.00	%		0.00	%		0.00	%

The volatility assumption for fiscal years 2012, 2011, 2010, and 2009 is based on the weighted average of the historical volatility of the Company’s common shares for a period equal to the expected term of the stock option awards.

The weighted average risk-free interest rate assumption is based upon the interpolation of various U.S. Treasury rates, as of the month of the grants.

The expected term of employee stock options represents the weighted-average period the stock options are expected to remain outstanding and is based on historical option activity. The determination of the expected term of employee stock options assumes that employees’ exercise behavior is comparable to historical option activity. The binomial-lattice model estimates the probability of exercise as a function of time based on the entire history of exercises and cancellations on all past option grants made by the Company. The expected term generated by these probabilities reflects actual and anticipated exercise behavior of options granted historically.

As share-based compensation expense recognized in the Consolidated Statement of Operations for the fiscal years ended July 31, 2012, 2011, 2010, and 2009 is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. ASC Topic 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures were estimated based on historical experience.

Stock Options

A summary of option activity for the fiscal year ended July 31, 2012 is as follows:


	Number of shares			Weighted- Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
	(in thousands, except exercise price and years)
Stock options outstanding, July 31, 2011		2,566		$	10.97
Granted		1,252			4.26
Exercised		(2	)		3.78
Forfeited or expired		(1,129	)		10.11

Stock options outstanding, July 31, 2012		2,687		$	8.20		4.30	$	5

Stock options exercisable, July 31, 2012		1,289		$	11.46		2.61	$	5

As of July 31, 2012, unrecognized share-based compensation related to stock options was approximately $2.0 million. This cost is expected to be expensed over a weighted average period of 1.9 years. The aggregate intrinsic value of options exercised during the fiscal years ended July 31, 2012, 2011, 2010, and 2009 was approximately $0.00 million, $0.01 million, $0.10 million, and $0.00 million, respectively.

As of July 31, 2012, there were 2.6 million stock options that were vested and expected to vest in the future with an aggregate intrinsic value of $5 thousand and a weighted-average remaining contractual term of 4.23 years.

Nonvested Stock

Nonvested stock are shares of common stock that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. Nonvested stock is expensed ratably over the term of the restriction period, ranging from one to five years unless there are performance restrictions placed on the nonvested stock, in which case the nonvested stock is expensed using graded vesting. Nonvested stock compensation expense for the fiscal years ended July 31, 2012, 2011, 2010, and 2009 was approximately $1.6 million, $1.6 million, $1.5 million, and $1.9 million, respectively.

A summary of the status of our nonvested stock for the fiscal year ended July 31, 2012, is as follows:


	Number of shares			Weighted average grant date fair value
	(in thousands, except fair values)
Nonvested stock outstanding, July 31, 2011		566		$	7.93
Granted		461			2.27
Vested		(266	)		7.77
Forfeited		(357	)		2.29

Nonvested stock outstanding, July 31, 2012		404		$	6.56

The fair value of nonvested shares is determined based on the market price of the Company’s common stock on the grant date. The total grant date fair value of nonvested stock that vested during the fiscal years ended July 31, 2012, 2011, 2010, and 2009 was approximately $2.1 million, $1.5 million, $1.9 million and $1.0 million, respectively. As of July 31, 2012, there was approximately $0.8 million of total unrecognized compensation cost related to nonvested stock to be recognized over a weighted-average period of 1.3 years.

The entire disclosure for compensation costs, including compensated absences accruals, compensated absences liability, deferred compensation arrangements and income statement compensation items. Deferred compensation arrangements may include a description of an arrangement with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares (units) issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

SHARE REPURCHASE PROGRAMS

SHARE REPURCHASE PROGRAMS

12 Months Ended

Jul. 31, 2012

(16)

SHARE REPURCHASE PROGRAMS

In June 2010, the Company’s Board of Directors authorized the repurchase of up to $10.0 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions over an eighteen month period, (the “June 2010 Repurchase Program”). The timing and amount of any shares repurchased was to be determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases could also be made under a Rule 10b5-1 plan, which permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The Company retired and returned repurchased shares to the Company’s authorized, but not issued or outstanding common stock. The June 2010 Repurchase Program was funded using the Company’s working capital. In total, the Company repurchased an aggregate of approximately 0.7 million shares at a cost of approximately $4.8 million under the June 2010 Repurchase Program. These share repurchases occurred primarily during the fourth quarter and first quarter of our 2010 and 2011 fiscal years, respectively. During the fiscal year ended July 31, 2011, the Company declared and paid a special cash dividend of $40.0 million in the aggregate, which was funded with available cash on hand and included amounts remaining under the June 2010 Repurchase Program. Accordingly, no further repurchases were made under the June 2010 Repurchase Program.

In June 2009, the Company’s Board of Directors authorized the repurchase of up to $15.0 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions over twelve month period (the “June 2009 Repurchase Program”), which was completed during the quarter ended April 30, 2010. The timing and amount of the shares repurchased was determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases were also made under a Rule 10b5-1 plan, which permitted shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The Company retired and returned the repurchased shares to the Company’s authorized, but not issued or outstanding common stock. The June 2009 Repurchase Program was funded using the Company’s working capital. The Company repurchased an aggregate of approximately 1.8 million shares at a cost of approximately $15.0 million under the June 2009 Repurchase Program.

INCOME TAXES

12 Months Ended

Jul. 31, 2012

INCOME TAXES

(17)

INCOME TAXES

Income from continuing operations:


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(in thousands)
Income (loss) from continuing operations before income taxes:
U.S.	$	(39,030	)	$	(47,697	)	$	(29,494	)	$	(133,240	)
Foreign		3,466			14,381			13,133			(55,438	)

Total loss from continuing operations before income taxes	$	(35,564	)	$	(33,316	)	$	(16,361	)	$	(188,678	)

The components of income tax expense have been recorded in the Company’s financial statements as follows:


	Years Ended July 31,
	2012		2011 (As Restated)		2010		2009
	(in thousands)
Income tax expense from continuing operations	$	3,035	$	819	$	5,162	$	10,831
Discontinued operations		—		—		—		—
Other comprehensive income		—		—		43		(529	)

Total income tax expense	$	3,035	$	819	$	5,205	$	10,302

The income tax expense from continuing operations consists of the following:


	July 31,
	2012		2011 (As Restated)		2010			2009
	(in thousands)
Current provision:
Federal	$	—	$	—	$	(367	)	$	—
State		—		—		185			—
Foreign		2,632		599		5,737			11,942

	$	2,632	$	599	$	5,555		$	11,942

Deferred provision:
Federal	$	—	$	—	$	—		$	—
State		—		—		—			—
Foreign		403		220		(393	)		(1,111	)

	$	403	$	220	$	(393	)	$	(1,111	)

Total tax provision	$	3,035	$	819	$	5,162		$	10,831

Deferred income tax assets and liabilities have been classified on the Consolidated Balance Sheets in accordance with the nature of the item giving rise to the temporary differences. The components of deferred tax assets and liabilities are as follows:


	July 31, 2012									July 31, 2011
	Current			Non-current			Total			Current (As Restated)			Non-current (As Restated)			Total (As Restated)
	(in thousands)
Deferred tax assets:
Accruals and reserves	$	13,015		$	6,641		$	19,656		$	16,615		$	11,062		$	27,677
Tax basis in excess of financial basis of investments in affiliates		—			15,468			15,468			—			15,955			15,955
Tax basis in excess of financial basis for intangible and fixed assets		—			7,402			7,402			—			5,710			5,710
Net operating loss and capital loss carryforwards		—			734,078			734,078			—			729,616			729,616

Total gross deferred tax assets		13,015			763,589			776,604			16,615			762,343			778,958
Less: valuation allowance		(12,316	)		(744,390	)		(756,706	)		(15,142	)		(739,757	)		(754,899	)

Net deferred tax assets		699			19,199			19,898			1,473			22,586			24,059

Deferred tax liabilities:
Accruals and reserves		(60	)		—			(60	)		(231	)		(1,107	)		(1,338	)
Financial basis in excess of tax basis for intangible and fixed assets		—			(1,414	)		(1,414	)		—			(2,338	)		(2,338	)
Financial basis in excess of tax basis of investments in affiliates		—			—			—			—			(26	)		(26	)
Undistributed accumulated earnings of foreign subsidiaries		—			(16,587	)		(16,587	)		—			(18,714	)		(18,714	)

Total gross deferred tax liabilities		(60	)		(18,001	)		(18,061	)		(231	)		(22,185	)		(22,416	)

Net deferred tax asset (liability)	$	639		$	1,198		$	1,837		$	1,242		$	401		$	1,643


	July 31, 2010
	Current (As Restated)			Non-current (As Restated)			Total (As Restated)
	(in thousands)
Deferred tax assets:
Accruals and reserves	$	21,417		$	14,935		$	36,352
Tax basis in excess of financial basis of investments in affiliates		—			13,966			13,966
Tax basis in excess of financial basis for intangible and fixed assets		—			4,744			4,744
Net operating loss and capital loss carryforwards		—			731,747			731,747

Total gross deferred tax assets		21,417			765,392			786,809
Less: valuation allowance		(20,221	)		(731,095	)		(751,316	)

Net deferred tax assets		1,196			34,297			35,493

Deferred tax liabilities:
Accruals and reserves		(163	)		(733	)		(896	)
Financial basis in excess of tax basis for intangible and fixed assets		—			(13,266	)		(13,266	)
Financial basis in excess of tax basis of investments in affiliates		—			(132	)		(132	)
Undistributed accumulated earnings of foreign subsidiaries		—			(19,499	)		(19,499	)

Total gross deferred tax liabilities		(163	)		(33,630	)		(33,793	)

Net deferred tax asset (liability)		1,033		$	667		$	1,700

Subsequently reported tax benefits relating to the valuation allowance for deferred tax assets as of July 31, 2012 will be allocated as follows (in thousands):


Income tax benefit recognized in the consolidated statement of operations	$	(741,245	)
Additional paid in capital		(15,461	)

	$	(756,706	)

The net change in the total valuation allowance for the fiscal year ended July 31, 2012 was an increase of approximately $1.8 million. This increase is primarily due to an increase in the U.S. valuation allowance due to net operating losses, capital losses, and other deferred tax assets. A valuation allowance has been recorded against the gross deferred tax asset in the U.S and certain foreign subsidiaries since management believes that after considering all the available objective evidence, both positive and negative, historical and prospective, it is more likely than not that certain assets will not be realized.

In the past, certain of the Company’s subsidiaries in China enjoyed tax holidays. These tax holidays were prior and subsequent to the Company’s acquisition of Modus Media, Inc. and remained in effect throughout various dates ending December 2010. These tax holidays were structured such that tax rates are 0% for the first two profitable years and 7.5% for the three year period thereafter. During calendar year 2007, the Chinese government introduced legislation for domestic and foreign companies that eliminated certain tax holidays effective January 1, 2008. The legislation allowed for a transition period for companies with existing holidays whereby the tax rate will increase gradually over a five year period up to a maximum rate of 25%. The Company’s current tax holidays began to expire during fiscal year 2009. The Company has recorded its deferred tax assets and liabilities based upon the tax rates expected to be in effect upon reversal.

The Company has certain deferred tax benefits, including those generated by net operating losses and certain other tax attributes (collectively, the “Tax Benefits”). The Company’s ability to use these Tax Benefits could be substantially limited if it were to experience an “ownership change,” as defined under Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”). In general, an ownership change would occur if there is a greater than 50-percentage point change in ownership of securities by stockholders owning (or deemed to own under Section 382 of the Code) five percent or more of a corporation’s securities over a rolling three-year period.

Accordingly, on October 17, 2011, the Company’s Board of Directors adopted a Tax Benefit Preservation Plan between the Company and American Stock Transfer & Trust Company, LLC, as rights agent (as amended from time to time, the “Tax Plan”). The Tax Plan reduces the likelihood that changes in the Company’s investor base have the unintended effect of limiting the Company’s use of its Tax Benefits. The Tax Plan is intended to require any person acquiring shares of the Company’s securities equal to or exceeding 4.99% of the Company’s outstanding shares to obtain the approval of the Board of Directors. This would protect the Tax Benefits because changes in ownership by a person owning less than 4.99% of the Company’s stock are not included in the calculation of “ownership change” for purposes of Section 382 of the Code.

The Company has net operating loss carryforwards for federal and state tax purposes of approximately $2.0 billion and $409.4 million, respectively, at July 31, 2012. The federal net operating losses will expire from fiscal year 2021 through 2032 and the state net operating losses will expire from fiscal year 2013 through 2032. The Company has a foreign net operating loss carryforward of approximately $52.8 million, of which $40.0 million has an indefinite carryforward period. In addition, the Company has capital loss carryforwards for federal and state tax purposes of approximately $15.7 million and $15.7 million, respectively. The federal and state capital losses will expire in fiscal year 2015.

The Company’s ModusLink Corporation subsidiary has undistributed earnings from its foreign subsidiaries of approximately $62.4 million at July 31, 2012, of which approximately $15.0 million is considered to be permanently reinvested due to certain restrictions under local laws as well as the Company’s plans to reinvest such earnings for future expansion in certain foreign jurisdictions. The amount of taxes attributable to the permanently reinvested undistributed earnings is not practicably determinable. The Company has recorded a deferred tax liability of $16.6 million on the remaining $47.4 million of undistributed earnings that are not considered to be permanently reinvested.

Income tax expense attributable to income from continuing operations differs from the expense computed by applying the U.S. federal income tax rate of 35% to income (loss) from continuing operations before income taxes as a result of the following:


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(in thousands)
Computed “expected” income tax expense (benefit)	$	(12,447	)	$	(11,661	)	$	(5,727	)	$	(66,037	)
Increase (decrease) in income tax expense resulting from:
Losses not benefited (utilized)		11,112			11,356			(2,424	)		13,230
State income taxes, net of federal benefit		—			—			120			—
Foreign dividends		3,298			4,041			7,535			8,858
Foreign tax rate differential		1,133			(2,220	)		(1,803	)		(6,303	)
Capitalized costs		179			408			194			306
Nondeductible goodwill impairment		—			2,467			5,460			57,639
Non-deductible expenses		355			202			210			447
Foreign withholding taxes		542			323			1,964			2,159
Reversal of uncertain tax position reserves		(1,137	)		(4,255	)		—			—
Other		—			158			(367	)		532

Actual income tax expense	$	3,035		$	819		$	5,162		$	10,831

The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations in several tax jurisdictions. The Company is periodically reviewed by domestic and foreign tax authorities regarding the amount of taxes due. These reviews include questions regarding the timing and amount of deductions and the allocation of income among various tax jurisdictions. In evaluating the exposure associated with various filing positions, we record estimated reserves when necessary. Based on our evaluation of current tax positions, the Company believes it has appropriately accrued for exposures.

The Company operates in multiple taxing jurisdictions, both within and outside of the United States. At July 31, 2012 , 2011, and 2010 the total amount of the liability for unrecognized tax benefits, including interest, related to federal, state and foreign taxes was approximately $1.3 million, $2.4 million, and $5.8 million, respectively. To the extent the unrecognized tax benefits are recognized, the entire amount would impact income tax expense.

The Company files income tax returns in the U.S., various states and in foreign jurisdictions. The federal and state income tax returns are generally subject to tax examinations for the tax years ended July 31, 2009 through July 31, 2012. To the extent the Company has tax attribute carryforwards, the tax year in which the attribute was generated may still be adjusted upon examination by the Internal Revenue Service or state tax authorities to the extent utilized in a future period. In addition, a number of tax years remain subject to examination by the appropriate government agencies for certain countries in the Europe and Asia regions. In Europe, the Company’s 2006 through 2012 tax years remain subject to examination in most locations while the Company’s 2002 through 2012 tax years remain subject to examination in most Asia locations.

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:


	Years Ended July 31,
	2012			2011 (As Restated)			2010			2009
	(in thousands)
Balance as of beginning of year	$	2,273		$	5,810		$	6,243		$	6,207
Additions for current year tax positions		73			—			320			423
Additions for prior year tax positions		564			—			—			78
Currency translation		—			697			101			(189	)
Settlements paid to taxing authorities		—			—			(854	)		(276	)
Reductions of prior year tax positions		(1,680	)		(4,234	)		—			—

Balance as of end of year	$	1,230		$	2,273		$	5,810		$	6,243

In accordance with the Company’s accounting policy, interest related to income taxes is included in the provision of income taxes line of the Consolidated Statements of Operations. For the fiscal year ended July 31, 2012, the Company has not recognized any material interest expense related to uncertain tax positions. As of July 31, 2012, 2011, and 2010, the Company had recorded liabilities for interest expense related to uncertain tax positions in the amount of $78,000, $130,000, and $84,000 respectively. The Company did not accrue for penalties related to income tax positions as there were no income tax positions that required the Company to accrue penalties. The Company expects that approximately $0.6 million of unrecognized tax benefits will reverse in the next twelve months due to expiration of statute of limitations.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

DEFINED BENEFIT PENSION PLANS

DEFINED BENEFIT PENSION PLANS

12 Months Ended

Jul. 31, 2012

(18)

DEFINED BENEFIT PENSION PLANS

The Company sponsors two defined benefit pension plans covering certain of its employees in its Netherlands facility and one defined benefit pension plan covering certain of its employees in its Taiwan facility. Pension costs are actuarially determined.

The aggregate change in benefit obligation and plan assets related to these plans was as follows:


	July 31,
	2012			2011			2010
	(in thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	13,791		$	11,441		$	11,224
Service cost		368			365			339
Interest cost		589			617			510
Actuarial (gain) loss		4,300			192			266
Employee contributions		328			390			385
Benefits and administrative expenses paid		(404	)		(184	)		(610	)
Amendments		—			—			(82	)
Transfers		—			1			—
Effect of Curtailment		—			(228	)		—
Currency translation		(1,813	)		1,197			(591	)

Benefit obligation at end of year		17,159			13,791			11,441

Change in plan assets
Fair value of plan assets at beginning of year		15,652			12,265			10,615
Actual return on plan assets		276			597			271
Employee contributions		328			390			385


Employer contributions		498			1,300			1,839
Benefits and administrative expenses paid		(404	)		(180	)		(155	)
Transfers		—			1			—
Currency translation		(2,199	)		1,279			(690	)

Fair value of plan assets at end of year		14,151			15,652			12,265

Funded status
Assets		37			2,886			1,940
Current liability		(1	)		(1	)		(1	)
Noncurrent liability		(3,049	)		(1,028	)		(1,116	)

Net amount recognized in statement of financial position as a non-current asset (liability)	$	(3,013	)	$	1,857		$	823

The accumulated benefit obligation was approximately $13.6 million, $10.8 million, and $8.9 million at July 31, 2012, 2011, and 2010, respectively.

Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:


	Years Ended July 31,
	2012	2011	2010
	(in thousands)
Projected benefit obligation	$2,064	$2,047	$1,991
Accumulated benefit obligation	$1,290	$1,241	$1,171
Fair value of plan assets	$1,024	$1,018	$875

Components of net periodic pension cost were as follows:


	Years Ended July 31,
	2012			2011			2010			2009
	(in thousands)
Service cost	$	368		$	365		$	339		$	711
Interest costs		589			617			510			634
Expected return on plan assets		(473	)		(477	)		(462	)		(546	)
Amortization of net actuarial loss		(88	)		(114	)		(144	)		(135	)

Net periodic pension costs	$	396		$	391		$	243		$	664

The amount included in accumulated other comprehensive income expected to be recognized as a component of net periodic pension costs in fiscal year 2013 is approximately $0.1 million related to amortization of a net actuarial gain and prior service cost.

Assumptions:

Weighted-average assumptions used to determine benefit obligations was as follows:


	Years Ended July 31,
	2012			2011			2010
Discount rate		3.95	%		5.50	%		5.50	%
Rate of compensation increase		2.12	%		2.00	%		2.00	%

Weighted-average assumptions used to determine net periodic pension cost was as follows:


	Years Ended July 31,
	2012			2011			2010			2009
Discount rate		5.50	%		5.50	%		5.50	%		6.25	%
Expected long-term rate of return on plan assets		3.34	%		3.50	%		4.25	%		4.75	%
Rate of compensation increase		2.00	%		2.00	%		2.00	%		2.50	%

To develop the expected long-term rate of return on assets assumptions consideration is given to the current level of expected returns on risk free investments, the historical level of risk premium associated with the other asset classes in which the portfolio is invested and the expectations for the future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on assets assumption for the portfolio.

Benefit payments:

The following table summarizes expected benefit payments from the plans through fiscal year 2022. Actual benefit payments may differ from expected benefit payments. The minimum required contributions to the plan are expected to be approximately $0.8 million in fiscal year 2013.


	Pension Benefit Payments
	(in thousands)
For the fiscal years ended July 31:
2013	$	55
2014	$	62
2015	$	90
2016	$	141
2017	$	172
Next 5 years	$	1,309

Investment Policy:

The defined benefit plans have 100% of their assets invested in bank-managed portfolios of debt securities and other assets. Conservation of capital with some conservative growth potential is the strategy for the plans.

The Company’s pension plans are outside the United States, where asset allocation decisions are typically made by an independent board of trustees. Investment objectives are aligned to generate returns that will enable the plans to meet their future obligations. The Company acts in a consulting and governance role in reviewing investment strategy and providing a recommended list of investment managers for each plan, with final decisions on asset allocation and investment manager made by local trustees.

The current target allocations for plan assets are 100% for debt securities. The market value of plan assets using Level 2 inputs is approximately $14.1 million.

Valuation Technique

Benefit obligations are computed using the projected unit credit method. Benefits are attributed to service based on the plan’s benefit formula. Cumulative gains and losses in excess of 10% of the greater of the pension benefit obligation or market-related value of plan assets are amortized over the expected average remaining future service of the current active membership.

The entire disclosure for pension and other postretirement benefits.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

COMPREHENSIVE INCOME

12 Months Ended

Jul. 31, 2012

COMPREHENSIVE INCOME

(19)

COMPREHENSIVE INCOME

The components of accumulated other comprehensive income, net of income taxes, are as follows:


	Years Ended July 31,
	2012		2011		2010		2009
	(in thousands)
Net unrealized holding gains (losses) on securities	$	(26)	$	(26)	$	47	$	(51)
Cumulative foreign currency translation adjustment		12,702		23,352		12,008		11,919
Pension adjustments		(1,235)		2,310		2,182		2,437

Accumulated other comprehensive income	$	11,441	$	25,636	$	14,237	$	14,305

For the fiscal years ended July 31, 2012, 2011, and 2010, the Company recorded approximately $0.1 million for all three periods, in taxes related to comprehensive income.

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e716-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e640-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

ALLOWANCE FOR DOUBTFUL ACCOUNTS

ALLOWANCE FOR DOUBTFUL ACCOUNTS

12 Months Ended

Jul. 31, 2012

(20)

ALLOWANCE FOR DOUBTFUL ACCOUNTS

The allowance for doubtful accounts consisted of the following:


	Years Ended July 31,
	2012			2011			2010			2009
	(in thousands)
Balance at beginning of year	$	473		$	919		$	3,767		$	2,358
Additions		15			144			141			1,699
Deductions		(144	)		(590	)		(2,989	)		(290	)

Balance at end of year	$	344		$	473		$	919		$	3,767

SELECTED QUARTERLY FINANCIAL INFORMATION

12 Months Ended

Jul. 31, 2012

SELECTED QUARTERLY FINANCIAL INFORMATION

(21) SELECTED QUARTERLY FINANCIAL INFORMATION (Unaudited)

The information for the first two quarters of fiscal year 2012 and for all quarters of fiscal years 2011and 2010 have been restated to correct the errors described in Note 3, Restatement of Previously Issued Financial Statements.

The following table sets forth selected quarterly financial information for the fiscal years ended July 31, 2012, 2011, and 2010. The operating results for any given quarter are not necessarily indicative of results for any future period.


	Fiscal 2012 Quarter Ended											Fiscal 2011 Quarter Ended
	Oct. 31 (As Restated)		Jan. 31 (As Restated)			Apr. 30			Jul. 31			Oct. 31 (As Restated)			Jan. 31 (As Restated)			Apr. 30 (As Restated)			Jul. 31 (As Restated)
	(in thousands except share data)
Net revenue	$	205,908	$	178,324		$	178,565		$	177,094		$	235,271		$	233,212		$	206,579		$	198,688
Cost of revenue		180,437		162,518			163,146			169,477			214,031			210,765			186,912			181,103

Gross profit		25,471		15,806			15,419			7,617			21,240			22,447			19,667			17,585
Total operating expenses		23,285		29,536			26,403			30,982			25,019			49,715			21,850			22,021

Operating income (loss)		2,186		(13,730	)		(10,984	)		(23,365	)		(3,779	)		(27,268	)		(2,183	)		(4,436	)
Total other income (expense)		830		564			3,744			5,191			2,921			(776	)		5,083			(2,878	)
Income tax expense (benefit)		1,871		380			(1,202	)		1,985			1,309			1,132			1,331			(2,954	)

Income (loss) from continuing operations		1,145		(13,546	)		(6,038	)		(20,159	)		(2,167	)		(29,176	)		1,569			(4,360	)
Discontinued operations, net of income taxes		—		670			(98	)		(81	)		(45	)		(104	)		(91	)		(91	)

Net income (loss)	$	1,145	$	(12,876	)	$	(6,136	)	$	(20,240	)	$	(2,212	)	$	(29,280	)	$	1,478		$	(4,451	)

Basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$	0.03	$	(0.32	)	$	(0.14	)	$	(0.46	)	$	(0.05	)	$	(0.68	)	$	0.03		$	(0.10	)
Income (loss) from discontinued operations	$	—	$	0.02		$	—		$	—		$	—		$	—		$	—		$	—

Net income (loss)	$	0.03	$	(0.30	)	$	(0.14	)	$	(0. 46	)	$	(0.05	)	$	(0.68	)	$	0.03		$	(0.10	)


	Fiscal 2010 Quarter Ended
	Oct. 31 (As Restated)			Jan. 31 (As Restated)			Apr. 30 (As Restated)			Jul. 31 (As Restated)
	(in thousands except share data)
Net revenue	$	245,273		$	234,034		$	212,379		$	226,760
Cost of revenue		210,670			203,960			189,096			203,692

Gross profit		34,603			30,074			23,283			23,068
Total operating expenses		24,405			25,498			23,888			50,207

Operating income (loss)		10,198			4,576			(605	)		(27,139	)
Total other income (expense)		(1,165	)		(1,216	)		(1,448	)		437
Income tax expense (benefit)		1,881			2,174			942			165

Income (loss) from continuing operations		7,152			1,186			(2,995	)		(26,867	)
Discontinued operations, net of income taxes		45			(29	)		(2,334	)		—

Net income (loss)	$	7,197		$	1,157			(5,329	)		(26,867	)

Basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$	0.16		$	0.03		$	(0.07	)	$	(0.62	)
Income (loss) from discontinued operations	$	—		$	—		$	(0.05	)	$	—

Net income (loss)	$	0.16		$	0.03		$	(0.12	)	$	(0.62	)

The restated quarterly Balance Sheets as of the end of each of the first two quarters of fiscal year 2012 and as of the end of each quarter of fiscal years 2011 and 2010 are presented below (dollars in thousands):

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

January 31, 2012

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	95,618		$	—		$	—		$	95,618
Available-for-sale securities		132			—			—			132
Accounts receivable, trade, net of allowance for doubtful accounts of $353		156,195			—			—			156,195
Inventories, net		94,675			—			—			94,675
Prepaid expenses and other current assets		10,325			—			—			10,325

Total current assets		356,945			—			—			356,945

Property and equipment, net		43,371			—			122			43,493
Investments in affiliates		12,352			—			—			12,352
Goodwill		3,058			—			—			3,058
Other intangible assets, net		4,029			—			—			4,029
Other assets		10,318			—			—			10,318

Total assets	$	430,073		$	—		$	122		$	430,195


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	29		$	—		$	60		$	89
Accounts payable		135,970			—			—			135,970
Current portion of accrued restructuring		4,978			—			—			4,978
Accrued expenses		37,776			—			—			37,776
Other current liabilities		6,934			31,619			936			39,489
Current liabilities of discontinued operations		1,452						—			1,452

Total current liabilities		187,139			31,619			996			219,754

Long-term portion of accrued restructuring		109			—			—			109
Obligations under capital leases, less current installments		32			—			72			104
Other long-term liabilities		15,755			—			(3,725	)		12,030
Non-current liabilities of discontinued operations		983			—			—			983

Total liabilities		204,018			31,619			(2,657	)		232,980

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,264,450 issued and outstanding shares		443			—			—			443
Additional paid-in capital		7,388,896			—			—			7,388,896
Accumulated deficit		(7,181,474	)		(31,619	)		2,694			(7,210,399	)
Accumulated other comprehensive income		18,190			—			85			18,275

Total stockholders’ equity		226,055			(31,619	)		2,779			197,215

Total liabilities and stockholders’ equity	$	430,073		$	—		$	122		$	430,195

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

October 31, 2011

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	111,526		$	—		$	—		$	111,526
Available-for-sale securities		133			—			—			133
Accounts receivable, trade, net of allowance for doubtful accounts of $332		187,952			—			—			187,952
Inventories, net		94,909			—			—			94,909
Prepaid expenses and other current assets		10,120			—			—			10,120

Total current assets		404,640			—			—			404,640

Property and equipment, net		44,716			—			91			44,807
Investments in affiliates		12,642			—			—			12,642
Goodwill		3,058			—			—			3,058
Other intangible assets, net		4,360			—			—			4,360
Other assets		9,510			—			—			9,510

Total assets	$	478,926		$	—		$	91		$	479,017


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	37		$	—		$	51		$	88
Accounts payable		164,196			—			—			164,196
Current portion of accrued restructuring		1,909			—			—			1,909
Accrued income taxes		1,260			—			—			1,260
Accrued expenses		42,407			—			—			42,407
Other current liabilities		7,692			31,123			950			39,765
Current liabilities of discontinued operations		1,817			—			—			1,817

Total current liabilities		219,318			31,123			1,001			251,442

Long-term portion of accrued restructuring		36			—			—			36
Obligations under capital leases, less current installments		39			—			51			90
Other long-term liabilities		15,791			—			(3,465	)		12,326
Non-current liabilities of discontinued operations		1,623			—			—			1,623

Total liabilities		236,807			31,123			(2,413	)		265,517

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,076,160 issued and outstanding shares		441			—			—			441
Additional paid-in capital		7,387,871			—			—			7,387,871
Accumulated deficit		(7,168,862	)		(31,123	)		2,462			(7,197,523	)
Accumulated other comprehensive income		22,669			—			42			22,711

Total stockholders’ equity		242,119			(31,123	)		2,504			213,500

Total liabilities and stockholders’ equity	$	478,926		$	—		$	91		$	479,017

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

April 30, 2011

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	119,120		$	—		$	—		$	119,120
Available-for-sale securities		130			—			—			130
Accounts receivable, trade, net of allowance for doubtful accounts of $777		135,622			—			—			135,622
Inventories, net		83,263			—			—			83,263
Prepaid expenses and other current assets		13,803			—			—			13,803

Total current assets		351,938			—			—			351,938

Property and equipment, net		49,935			—			117			50,052
Investments in affiliates		14,073			—			(797	)		13,276
Goodwill		3,058			—			—			3,058
Other intangible assets, net		5,736			—			—			5,736
Other assets		10,402			—			—			10,402

Total assets	$	435,142		$	—		$	(680	)	$	434,462


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital lease	$	38		$	—		$	51		$	89
Accounts payable		111,000			—			—			111,000
Current portion of accrued restructuring		1,618			—			—			1,618
Accrued expenses		40,314			—			258			40,572
Other current liabilities		7,995			30,307			926			39,228
Current liabilities of discontinued operations		1,686			—			—			1,686

Total current liabilities		162,651			30,307			1,235			194,193

Long-term portion of accrued restructuring		299			—			—			299
Obligations under capital leases, less current installments		3			—			77			80
Other long-term liabilities		16,122			—			772			16,894
Non-current liabilities of discontinued operations		2,241			—			—			2,241

Total liabilities		181,316			30,307			2,084			213,707

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,824,651 issued and outstanding shares		438			—			—			438
Additional paid-in capital		7,386,248			—			—			7,386,248
Accumulated deficit		(7,161,145	)		(30,307	)		(2,764	)		(7,194,216	)
Accumulated other comprehensive income		28,285			—			—			28,285

Total stockholders’ equity		253,826			(30,307	)		(2,764	)		220,755

Total liabilities and stockholders’ equity	$	435,142		$	—		$	(680	)	$	434,462

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

January 31, 2011

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	154,217		$	—		$	—		$	154,217
Available-for-sale securities		222			—			—			222
Accounts receivable, trade, net of allowance for doubtful accounts of $1,027		140,892			—			—			140,892
Inventories, net		79,667			—			—			79,667
Prepaid expenses and other current assets		12,084			—			—			12,084

Total current assets		387,082			—			—			387,082

Property and equipment, net		49,942			—			130			50,072
Investments in affiliates		12,997			—			(797	)		12,200
Goodwill		3,058			—			—			3,058
Other intangible assets, net		6,798			—			—			6,798
Other assets		10,307			—			—			10,307

Total assets	$	470,184			—		$	(667	)	$	469,517


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	38		$	—		$	51		$	89
Accounts payable		111,205			—			—			111,205
Current portion of accrued restructuring		2,123			—			—			2,123
Accrued expenses		38,755			—			250			39,005
Other current liabilities		6,949			37,053			639			44,641
Current liabilities of discontinued operations		1,686			—			—			1,686

Total current liabilities		160,756			37,053			940			198,749

Long-term portion of accrued restructuring		484			—			—			484
Obligations under capital leases, less current installments		10			—			90			100
Other long-term liabilities		15,791			—			924			16,715
Non-current liabilities of discontinued operations		2,587			—			—			2,587

Total liabilities		179,628			37,053			1,954			218,635

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,814,824 issued and outstanding shares		438			—			—			438
Additional paid-in capital		7,425,434			—			—			7,425,434
Accumulated deficit		(7,156,019	)		(37,053	)		(2,621	)		(7,195,693	)
Accumulated other comprehensive income		20,703			—			—			20,703

Total stockholders’ equity		290,556			(37,053	)		(2,621	)		250,882

Total liabilities and stockholders’ equity	$	470,184		$	—		$	(667	)	$	469,517

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

October 31, 2010

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	145,924		$	—		$	—		$	145,924
Available-for-sale securities		233			—			—			233
Accounts receivable, trade, net of allowance for doubtful accounts of $994		186,479			—			—			186,479
Inventories, net		80,007			—			—			80,007
Prepaid expenses and other current assets		13,488			—			—			13,488

Total current assets		426,131			—			—			426,131

Property and equipment, net		52,210			—			143			52,353
Investments in affiliates		13,103			—			(797	)		12,306
Goodwill		16,207			—			—			16,207
Other intangible assets, net		22,495			—			—			22,495
Other assets		10,022			—			—			10,022

Total assets	$	540,168		$	—		$	(654	)	$	539,514


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	26		$	—		$	51		$	77
Accounts payable		144,930			—			—			144,930
Current portion of accrued restructuring		3,026			—			—			3,026
Accrued income taxes		242			—			—			242
Accrued expenses		45,971			—			242			46,213
Other current liabilities		6,048			36,545			637			43,230
Current liabilities of discontinued operations		1,792			—			—			1,792

Total current liabilities		202,035			36,545			930			239,510

Long-term portion of accrued restructuring		665			—			—			665
Obligations under capital leases, less current installments		23			—			103			126
Other long-term liabilities		16,485			—			496			16,981
Non-current liabilities of discontinued operations		2,929			—			—			2,929

Total liabilities		222,137			36,545			1,529			260,211

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,723,322 issued and outstanding shares		437			—			—			437
Additional paid-in capital		7,424,402			—			—			7,424,402
Accumulated deficit		(7,127,685	)		(36,545	)		(2,183	)		(7,166,413	)
Accumulated other comprehensive income		20,877			—			—			20,877

Total stockholders’ equity		318,031			(36,545	)		(2,183	)		279,303

Total liabilities and stockholders’ equity	$	540,168		$	—		$	(654	)	$	539,514

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

April 30, 2010

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	159,897		$	—		$	—		$	159,897
Available-for-sale securities		335			—			—			335
Accounts receivable, trade, net of allowance for doubtful accounts of $879		146,203			—			—			146,203
Inventories, net		66,270			—			—			66,270
Prepaid expenses and other current assets		12,020			—			—			12,020

Total current assets		384,725			—			—			384,725

Property and equipment, net		54,857			—			168			55,025
Investments in affiliates		13,022			—			—			13,022
Goodwill		42,007			—			—			42,007
Other intangible assets, net		25,852			—			—			25,852
Other assets		10,140			—			—			10,140

Total assets	$	530,603		$	—		$	168		$	530,771


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	46		$	—		$	51		$	97
Accounts payable		108,730			—			—			108,730
Current portion of accrued restructuring		5,611			—			—			5,611
Accrued income taxes		1,260			—			—			1,260
Accrued expenses		41,103			—			226			41,329
Other current liabilities		4,696			41,307			262			46,265
Current liabilities of discontinued operations		1,992			—			—			1,992

Total current liabilities		163,438			41,307			539			205,284

Long-term portion of accrued restructuring		1,276			—			—			1,276
Obligations under capital leases, less current installments		43			—			127			170
Other long-term liabilities		15,686			—			—			15,686
Non-current liabilities of discontinued operations		3,575			—			—			3,575

Total liabilities		184,018			41,307			666			225,991

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,056,151 issued and outstanding shares		441			—			—			441
Additional paid-in capital		7,426,120			—			—			7,426,120
Accumulated deficit		(7,095,530	)		(41,307	)		(498	)		(7,137,335	)
Accumulated other comprehensive income		15,554			—			—			15,554

Total stockholders’ equity		346,585			(41,307	)		(498	)		304,780

Total liabilities and stockholders’ equity	$	530,603		$	—		$	168		$	530,771

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

January 31, 2010

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	163,970		$	—		$	—		$	163,970
Available-for-sale securities		284			—			—			284
Accounts receivable, trade, net of allowance for doubtful accounts of $1,257		150,311			—			—			150,311
Inventories, net		67,107			—			—			67,107
Prepaid expenses and other current assets		13,060			—			—			13,060

Total current assets		394,732			—			—			394,732

Property and equipment, net		56,348			—			181			56,529
Investments in affiliates		13,180			—			—			13,180
Goodwill		42,007			—			—			42,007
Other intangible assets, net		27,509			—			—			27,509
Other assets		9,741			—			—			9,741

Total assets	$	543,517		$	—		$	181		$	543,698


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	54		$	—		$	51		$	105
Accounts payable		112,756			—			—			112,756
Current portion of accrued restructuring		7,021			—			(576	)		6,445
Accrued income taxes		1,377			—			—			1,377
Accrued expenses		43,259			—			218			43,477
Other current liabilities		5,817			40,251			—			46,068
Current liabilities of discontinued operations		1,602			—			—			1,602

Total current liabilities		171,886			40,251			(307	)		211,830

Long-term portion of accrued restructuring		1,686			—			—			1,686
Obligations under capital leases, less current installments		64			—			139			203
Other long-term liabilities		16,437			—			—			16,437
Non-current liabilities of discontinued operations		2,057			—			—			2,057

Total liabilities		192,130			40,251			(168	)		232,213

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,293,804 issued and outstanding shares		443			—			—			443
Additional paid-in capital		7,427,477			—			—			7,427,477
Accumulated deficit		(7,092,103	)		(40,251	)		349			(7,132,005	)
Accumulated other comprehensive income		15,570			—			—			15,570

Total stockholders’ equity		351,387			(40,251	)		349			311,485

Total liabilities and stockholders’ equity	$	543,517		$	—		$	181		$	543,698

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

October 31, 2009

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	174,402		$	—		$	—		$	174,402
Available-for-sale securities		284			—			—			284
Accounts receivable, trade, net of allowance for doubtful accounts of $1,154		194,142			—			—			194,142
Inventories, net		71,037			—			—			71,037
Prepaid expenses and other current assets		10,135			—			—			10,135

Total current assets		450,000			—			—			450,000

Property and equipment, net		58,940			—			194			59,134
Investments in affiliates		12,514			—			—			12,514
Goodwill		25,708			—			—			25,708
Other intangible assets, net		21,748			—			—			21,748
Other assets		8,111			—			—			8,111

Total assets	$	577,021		$	—		$	194		$	577,215


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	64		$	—		$	51		$	115
Accounts payable		135,990			—			—			135,990
Current portion of accrued restructuring		9,364			—			(522	)		8,842
Accrued income taxes		1,155			—			—			1,155
Accrued expenses		47,920			—			210			48,130
Other current liabilities		4,969			38,797			—			43,766
Current liabilities of discontinued operations		1,666			—			—			1,666

Total current liabilities		201,128			38,797			(261	)		239,664

Long-term portion of accrued restructuring		1,804			—			—			1,804
Obligations under capital leases, less current installments		69			—			151			220
Other long-term liabilities		16,899			—			—			16,899
Non-current liabilities of discontinued operations		2,235			—			—			2,235

Total liabilities		222,135			38,797			(110	)		260,822

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,931,506 issued and outstanding shares		449			—			—			449
Additional paid-in capital		7,432,500			—			—			7,432,500
Accumulated deficit		(7,094,670	)		(38,797	)		304			(7,133,163	)
Accumulated other comprehensive income		16,607			—			—			16,607

Total stockholders’ equity		354,886			(38,797	)		304			316,393

Total liabilities and stockholders’ equity	$	577,021		$	—		$	194		$	577,215

The restated quarterly Statements of Operations for the first two quarters of fiscal year 2012 and each of the quarterly periods in fiscal years 2011 and 2010 are presented below (dollars in thousands, except per share data):

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended January 31, 2012

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	178,588			(496	)		232		$	178,324
Cost of revenue		162,521			—			(3	)		162,518

Gross profit		16,067			(496	)		235			15,806

Operating expenses:
Selling, general and administrative		24,607			—			—			24,607
Amortization of intangible assets		332			—			—			332
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		4,597			—			—			4,597

Total operating expenses		29,536			—			—			29,536

Operating income (loss)		(13,469	)		(496	)		235			(13,730	)

Other income (expense):
Interest income		122			—			—			122
Interest expense		(96	)		—			(2	)		(98	)
Other gains (losses)		830			—			—			830
Equity in losses of affiliates and impairments		(290	)		—			—			(290	)

		566			—			(2	)		564

Income (loss) from continuing operations before income taxes		(12,903	)		(496	)		233			(13,166	)
Income tax expense (benefit)		380			—			—			380

Income (loss) from continuing operations		(13,283	)		(496	)		233			(13,546	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		670			—			—			670

Net income (loss)	$	(12,613	)	$	(496	)	$	233		$	(12,876	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.31	)	$	(0.01	)	$	—		$	(0.32	)
Loss from discontinued operations		0.02			—			—			0.02

Net loss	$	(0.29	)	$	(0.01	)	$	—		$	(0.30	)

Shares used in computing basic loss per share		43,434			—			—			43,434

Shares used in computing diluted loss per share		43,434			—			—			43,434

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended October 31, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	206,151			(417	)		174		$	205,908
Cost of revenue		180,658			—			(221	)		180,437

Gross profit		25,493			(417	)		395			25,471

Operating expenses:
Selling, general and administrative		22,198			—			—			22,198
Amortization of intangible assets		332			—			—			332
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		755			—			—			755

Total operating expenses		23,285			—			—			23,285

Operating income (loss)		2,208			(417	)		395			2,186

Other income (expense):
Interest income		122			—			—			122
Interest expense		(88	)		—			(2	)		(90	)
Other gains (losses)		1,225			—			—			1,225
Equity in losses of affiliates and impairments		(427	)		—			—			(427	)

		832			—			(2	)		830

Income (loss) from continuing operations before income taxes		3,040			(417	)		393			3,016
Income tax expense (benefit)		1,871			—			—			1,871

Income (loss) from continuing operations		1,169			(417	)		393			1,145
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		—			—			—			—

Net income (loss)	$	1,169		$	(417	)	$	393		$	1,145

Basic and diluted loss per share
Loss from continuing operations	$	0.03		$	(0.01	)	$	0.01		$	0.03
Loss from discontinued operations		—			—			—			—

Net loss	$	0.03		$	(0.01	)	$	0.01		$	0.03

Shares used in computing basic loss per share		43,315			—			—			43,315

Shares used in computing diluted loss per share		43,318			—			—			43,318

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended July 31, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	198,798			(399	)		289			198,688
Cost of revenue		181,144			—			(41	)		181,103

Gross profit		17,654			(399	)		330			17,585

Operating expenses:
Selling, general and administrative		21,390			—			—			21,390
Amortization of intangible assets		1,037			—			—			1,037
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		(406	)		—			—			(406	)

Total operating expenses		22,021			—			—			22,021

Operating income (loss)		(4,367	)		(399	)		330			(4,436	)

Other income (expense):
Interest income		47			—			—			47
Interest expense		(103	)		—			(2	)		(105	)
Other gains (losses)		(726	)		—			—			(726	)
Equity in losses of affiliates and impairments		(2,891	)		—			797			(2,094	)

		(3,673	)		—			795			(2,878	)

Income (loss) from continuing operations before income taxes		(8,040	)		(399	)		1,125			(7,314	)
Income tax expense (benefit)		754			—			(3,708	)		(2,954	)

Income (loss) from continuing operations		(8,794	)		(399	)		4,833			(4,360	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(91	)		—			—			(91	)

Net income (loss)	$	(8,885	)	$	(399	)	$	4,833		$	(4,451	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.21	)	$	(0.01	)	$	0.12		$	(0.10	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.21	)	$	(0.01	)	$	0.12		$	(0.10	)

Shares used in computing basic loss per share		43,317			—			—			43,317

Shares used in computing diluted loss per share		43,317			—			—			43,317

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended April 30, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	207,140		$	(426	)	$	(135	)	$	206,579
Cost of revenue		186,906			—			6			186,912

Gross profit		20,234			(426	)		(141	)		19,667

Operating expenses:
Selling, general and administrative		20,788			—			—			20,788
Amortization of intangible assets		1,062			—			—			1,062
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		—			—			—			—

Total operating expenses		21,850			—			—			21,850

Operating income (loss)		(1,616	)		(426	)		(141	)		(2,183	)

Other income (expense):
Interest income		62			—			—			62
Interest expense		(108	)		—			(2	)		(110	)
Other gains (losses)		(1,641	)		7,173			—			5,532
Equity in losses of affiliates and impairments		(401	)		—			—			(401	)

		(2,088	)		7,173			(2	)		5,083

Income (loss) from continuing operations before income taxes		(3,704	)		6,747			(143	)		2,900
Income tax expense (benefit)		1,331			—			—			1,331

Income (loss) from continuing operations		(5,035	)		6,747			(143	)		1,569
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(91	)		—			—			(91	)

Net income (loss)	$	(5,126	)	$	6,747		$	(143	)	$	1,478

Basic and diluted loss per share
Loss from continuing operations	$	(0.12	)	$	0.15		$	—		$	0.03
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.12	)	$	0.15		$	—		$	0.03

Shares used in computing basic loss per share		43,303			—			—			43,303

Shares used in computing diluted loss per share		43,303			—			—			43,502

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended January 31, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	234,150		$	(508	)	$	(430	)	$	233,212
Cost of revenue		210,759			—			6			210,765

Gross profit		23,391			(508	)		(436	)		22,447

Operating expenses:
Selling, general and administrative		20,458			—			—			20,458
Amortization of intangible assets		1,679			—			—			1,679
Impairment of goodwill and long-lived assets		27,166			—			—			27,166
Restructuring, net		412			—			—			412

Total operating expenses		49,715			—			—			49,715

Operating income (loss)		(26,324	)		(508	)		(436	)		(27,268	)

Other income (expense):
Interest income		88			—			—			88
Interest expense		(120	)		—			(2	)		(122	)
Other gains (losses)		(372	)		—			—			(372	)
Equity in losses of affiliates and impairments		(370	)		—			—			(370	)

		(774	)		—			(2	)		(776	)

Income (loss) from continuing operations before income taxes		(27,098	)		(508	)		(438	)		(28,044	)
Income tax expense (benefit)		1,132			—			—			1,132

Income (loss) from continuing operations		(28,230	)		(508	)		(438	)		(29,176	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(104	)		—			—			(104	)

Net income (loss)	$	(28,334	)	$	(508	)	$	(438	)	$	(29,280	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.65	)	$	(0.02	)	$	(0.01	)	$	(0.68	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.65	)	$	(0.02	)	$	(0.01	)	$	(0.68	)

Shares used in computing basic loss per share		43,279			—			—			43,279

Shares used in computing diluted loss per share		43,279			—			—			43,279

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended October 31, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	236,379		$	(635	)	$	(473	)	$	235,271
Cost of revenue		214,025			—			6			214,031

Gross profit		22,354			(635	)		(479	)		21,240

Operating expenses:
Selling, general and administrative		22,551			—			—			22,551
Amortization of intangible assets		1,679			—			—			1,679
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		789			—			—			789

Total operating expenses		25,019			—			—			25,019

Operating income (loss)		(2,665	)		(635	)		(479	)		(3,779	)

Other income (expense):
Interest income		42			—			—			42
Interest expense		(122	)		—			(3	)		(125	)
Other gains (losses)		(1,925	)		6,372			—			4,447
Equity in losses of affiliates and impairments		(646	)		—			(797	)		(1,443	)

		(2,651	)		6,372			(800	)		2,921

Income (loss) from continuing operations before income taxes		(5,316	)		5,737			(1,279	)		(858	)
Income tax expense (benefit)		1,309			—			—			1,309

Income (loss) from continuing operations		(6,625	)		5,737			(1,279	)		(2,167	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(45	)		—			—			(45	)

Net income (loss)	$	(6,670	)	$	5,737		$	(1,279	)	$	(2,212	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.15	)	$	0.13		$	(0.03	)	$	(0.05	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.15	)	$	0.13		$	(0.03	)	$	(0.05	)

Shares used in computing basic loss per share		43,309			—			—			43,309

Shares used in computing diluted loss per share		43,309			—			—			43,309

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended July 31, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	228,133		$	(975	)	$	(398	)	$	226,760
Cost of revenue		203,686			—			6			203,692

Gross profit		24,447			(975	)		(404	)		23,068

Operating expenses:
Selling, general and administrative		24,585			—			—			24,585
Amortization of intangible assets		1,680			—			—			1,680
Impairment of goodwill and long-lived assets		25,800			—			—			25,800
Restructuring, net		(1,858	)		—			—			(1,858	)

Total operating expenses		50,207			—			—			50,207

Operating income (loss)		(25,760	)		(975	)		(404	)		(27,139	)

Other income (expense):
Interest income		46			—			—			46
Interest expense		(145	)		—			(3	)		(148	)
Other gains (losses)		744			—			—			744
Equity in losses of affiliates and impairments		(205	)		—			—			(205	)

		440			—			(3	)		437

Income (loss) from continuing operations before income taxes		(25,320	)		(975	)		(407	)		(26,702	)
Income tax expense (benefit)		165			—			—			165

Income (loss) from continuing operations		(25,485	)		(975	)		(407	)		(26,867	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		—			—			—			—

Net income (loss)	$	(25,485	)	$	(975	)	$	(407	)	$	(26,867	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.58	)	$	(0.03	)	$	(0.01	)	$	(0.62	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.58	)	$	(0.03	)	$	(0.01	)	$	(0.62	)

Shares used in computing basic loss per share		43,652			—			—			43,652

Shares used in computing diluted loss per share		43,652			—			—			43,652

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended April 30, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	213,697		$	(1,056	)	$	(262	)	$	212,379
Cost of revenue		189,090			—			6			189,096

Gross profit		24,607			(1,056	)		(268	)		23,283

Operating expenses:
Selling, general and administrative		21,395			—			—			21,395
Amortization of intangible assets		1,657			—			—			1,657
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		260			—			576			836

Total operating expenses		23,312			—			576			23,888

Operating income (loss)		1,295			(1,056	)		(844	)		(605	)

Other income (expense):
Interest income		49			—			—			49
Interest expense		(130	)		—			(3	)		(133	)
Other gains (losses)		(1,153	)		—			—			(1,153	)
Equity in losses of affiliates and impairments		(211	)		—			—			(211	)

		(1,445	)		—			(3	)		(1,448	)

Income (loss) from continuing operations before income taxes		(150	)		(1,056	)		(847	)		(2,053	)
Income tax expense (benefit)		942			—			—			942

Income (loss) from continuing operations		(1,092	)		(1,056	)		(847	)		(2,995	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(2,334	)		—			—			(2,334	)

Net income (loss)	$	(3,426	)	$	(1,056	)	$	(847	)	$	(5,329	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.03	)	$	(0.02	)	$	(0.02	)	$	(0.07	)
Loss from discontinued operations		(0.05	)		—			—			(0.05	)

Net loss	$	(0.08	)	$	(0.02	)	$	(0.02	)	$	(0.12	)

Shares used in computing basic loss per share		43,730			—			—			43,730

Shares used in computing diluted loss per share		43,730			—			—			43,730

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended January 31, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	235,488		$	(1,454	)	$	—		$	234,034
Cost of revenue		203,954			—			6			203,960

Gross profit		31,534			(1,454	)		(6	)		30,074

Operating expenses:
Selling, general and administrative		23,917			—			—			23,917
Amortization of intangible assets		1,599			—			—			1,599
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		36			—			(54	)		(18	)

Total operating expenses		25,552			—			(54	)		25,498

Operating income (loss)		5,982			(1,454	)		48			4,576

Other income (expense):
Interest income		82			—			—			82
Interest expense		(158	)		—			(3	)		(161	)
Other gains (losses)		(289	)		—			—			(289	)
Equity in losses of affiliates and impairments		(848	)		—			—			(848	)

		(1,213	)		—			(3	)		(1,216	)

Income (loss) from continuing operations before income taxes		4,769			(1,454	)		45			3,360
Income tax expense (benefit)		2,174			—			—			2,174

Income (loss) from continuing operations		2,595			(1,454	)		45			1,186
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(29	)		—			—			(29	)

Net income (loss)	$	2,566		$	(1,454	)	$	45		$	1,157

Basic and diluted loss per share
Loss from continuing operations	$	0.06		$	(0.03	)	$	—		$	0.03
Loss from discontinued operations		—			—			—			—

Net loss	$	0.06		$	(0.03	)	$	—		$	0.03

Shares used in computing basic loss per share		44,208			—			—			44,208

Shares used in computing diluted loss per share		44,301			—			—			44,301

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended October 31, 2009

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	246,678		$	(1,405	)	$	—		$	245,273
Cost of revenue		210,664			—			6			210,670

Gross profit		36,014			(1,405	)		(6	)		34,603

Operating expenses:
Selling, general and administrative		22,958			—			—			22,958
Amortization of intangible assets		1,372			—			—			1,372
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		129			—			(54	)		75

Total operating expenses		24,459			—			(54	)		24,405

Operating income (loss)		11,555			(1,405	)		48			10,198

Other income (expense):
Interest income		121			—			—			121
Interest expense		(127	)		—			(4	)		(131	)
Other gains (losses)		(291	)		—			—			(291	)
Equity in losses of affiliates and impairments		(864	)		—			—			(864	)

		(1,161	)		—			(4	)		(1,165	)

Income (loss) from continuing operations before income taxes		10,394			(1,405	)		44			9,033
Income tax expense (benefit)		1,881			—			—			1,881

Income (loss) from continuing operations		8,513			(1,405	)		44			7,152
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		45			—			—			45

Net income (loss)	$	8,558		$	(1,405	)	$	44		$	7,197

Basic and diluted loss per share
Loss from continuing operations	$	0.19		$	(0.03	)	$	—		$	0.16
Loss from discontinued operations		—			—			—			—

Net loss	$	0.19		$	(0.03	)	$	—		$	0.16

Shares used in computing basic loss per share		44,806			—			—			44,806

Shares used in computing diluted loss per share		44,921			—			—			44,921

The restated quarterly segment information for the first two quarters of fiscal year 2012 and each of the quarterly periods in fiscal years 2011 and 2010 are presented below:


	Three Months Ended October 31, 2011 (As Restated) (unaudited)			Three Months Ended January 31, 2012 (As Restated) (unaudited)
	(in thousands)
Net revenue:
Americas	$	69,511		$	59,498
Asia		60,739			51,125
Europe		57,605			50,710
TFL		8,079			8,888
All other		9,974			8,103

	$	205,908		$	178,324

Operating income (loss):
Americas	$	(120	)	$	(3,084	)
Asia		9,292			4,513
Europe		(1,688	)		(7,177	)
TFL		(1,395	)		(1,211	)
All other		856			(79	)

Total segment operating income (loss)		6,945			(7,038	)
Other reconciling items		(4,759	)		(6,692	)

Total operating income (loss)	$	2,186		$	(13,730	)

Adjusted operating income (loss):
Americas	$	1,326		$	(1,272	)
Asia		10,965			5,795
Europe		(296	)		(2,225	)
TFL		(1,315	)		(988	)
All other		1,343			409

Total segment adjusted operating income		12,023			1,719
Other reconciling items		(4,120	)		(5,970	)

Total adjusted operating income	$	7,903		$	(4,251	)

Adjusted operating income	$	7,903		$	(4,251	)
Adjustments:
Depreciation		(3,748	)		(3,552	)
Amortization of intangible assets		(332	)		(332	)
Share-based payments		(882	)		(998	)
Restructuring, net		(755	)		(4,597	)

Operating income (loss)	$	2,186		$	(13,730	)
Other income (expense), net		830			564
Income tax expense		(1,871	)		(380	)
Income (loss) from discontinued operations		—			670

Net income (loss)	$	1,145		$	(12,876	)

Total assets of continuing operations:
Americas	$	122,561		$	122,186
Asia		171,023			144,986
Europe		124,537			113,475
TFL		12,851			9,504
All other		28,799			20,949

Sub-total		459,771			411,100
Corporate-level activity		19,246			19,095

	$	479,017		$	430,195


	Three Months Ended October 31, 2010 (As Restated) (unaudited)			Three Months Ended January 31, 2011 (As Restated) (unaudited)			Three Months Ended April 30, 2011 (As Restated) (unaudited)			Three Months Ended July 31, 2011 (As Restated) (unaudited)
	(in thousands)
Net revenue:
Americas	$	80,680		$	76,104		$	70,652		$	68,926
Asia		57,219			62,570			56,934			57,003
Europe		77,012			77,552			63,444			57,056
TFL		9,746			7,782			6,415			5,528
All other		10,614			9,204			9,134			10,175

	$	235,271		$	233,212		$	206,579		$	198,688

Operating income (loss):
Americas	$	(3,693	)	$	(18,165	)	$	(3,318	)	$	(4,808	)
Asia		4,548			8,000			6,741			9,879
Europe		(90	)		(60	)		(2,425	)		(3,606	)
TFL		(1,004	)		(13,567	)		(275	)		(1,292	)
All other		924			210			483			272

Total segment operating income (loss)		685			(23,582	)		1,206			445
Other reconciling items		(4,464	)		(3,686	)		(3,389	)		(4,881	)

Total operating loss	$	(3,779	)	$	(27,268	)	$	(2,183	)	$	(4,436	)

Adjusted operating income (loss):
Americas	$	(1,189	)	$	(54	)	$	(1,673	)	$	(3,113	)
Asia		6,561			9,889			8,363			11,342
Europe		1,388			1,632			(825	)		(1,997	)
TFL		(666	)		(1,951	)		(197	)		(1,212	)
All other		1,374			712			956			769

Total segment adjusted operating income		7,468			10,228			6,624			5,789
Other reconciling items		(3,866	)		(3,036	)		(2,883	)		(4,259	)

Total adjusted operating income	$	3,602		$	7,192		$	3,741		$	1,530

Adjusted operating income	$	3,602		$	7,192		$	3,741		$	1,530
Adjustments:
Depreciation		(4,010	)		(4,209	)		(4,140	)		(4,474	)
Amortization of intangible assets		(1,679	)		(1,679	)		(1,062	)		(1,037	)
Impairment of goodwill		—			(27,166	)		—			—
Share-based payments		(903	)		(994	)		(722	)		(861	)
Restructuring, net		(789	)		(412	)		—			406

Operating loss	$	(3,779	)	$	(27,268	)	$	(2,183	)	$	(4,436	)
Other income (expense), net		2,921			(776	)		5,083			(2,878	)
Income tax (expense) benefit		(1,309	)		(1,132	)		(1,331	)		2,954
Income (loss) from discontinued operations		(45	)		(104	)		(91	)		(91	)

Net income (loss)	$	(2,212	)	$	(29,280	)	$	1,478		$	(4,451	)

Total assets of continuing operations:
Americas	$	162,680		$	155,889		$	144,782		$	121,481
Asia		125,001			106,679			101,399			125,059
Europe		152,485			134,957			133,185			120,422
TFL		22,942			7,747			7,806			11,029
All other		37,936			26,010			24,807			24,809

Sub-total		501,044			431,282			411,979			402,800
Corporate-level activity		38,470			38,235			22,483			19,447

	$	539,514		$	469,517		$	434,462		$	422,247


	Three Months Ended October 31, 2009 (As Restated) (unaudited)			Three Months Ended January 31, 2010 (As Restated) (unaudited)			Three Months Ended April 30, 2010 (As Restated) (unaudited)			Three Months Ended July 31, 2010 (As Restated) (unaudited)
	(in thousands)
Net revenue:
Americas	$	79,452		$	75,745		$	72,840		$	79,516
Asia		73,680			68,077			59,763			61,073
Europe		79,677			75,637			61,831			66,440
TFL		—			4,768			8,937			10,007
All other		12,464			9,807			9,008			9,724

	$	245,273		$	234,034		$	212,379		$	226,760

Operating income (loss):
Americas	$	(1,509	)	$	(3,523	)	$	(4,934	)	$	(16,287	)
Asia		14,820			13,865			10,980			7,698
Europe		(274	)		(1,649	)		(1,931	)		(1,011	)
TFL		—			(427	)		(307	)		(11,510	)
All other		865			146			(896	)		(3,048	)

Total segment operating income (loss)		13,902			8,412			2,912			(24,158	)
Other reconciling items		(3,704	)		(3,836	)		(3,517	)		(2,981	)

Total operating loss	$	10,198		$	4,576		$	(605	)	$	(27,139	)

Adjusted operating income (loss):
Americas	$	768		$	(921	)	$	(2,201	)	$	(1,289	)
Asia		16,604			15,630			12,776			9,251
Europe		1,330			(286	)		(202	)		(1,161	)
TFL		—			(200	)		(23	)		(1,003	)
All other		1,361			641			(422	)		188

Total segment adjusted operating income		20,063			14,864			9,928			5,986
Other reconciling items		(3,109	)		(3,143	)		(2,910	)		(2,432	)

Total adjusted operating income	$	16,954		$	11,721		$	7,018		$	3,554

Adjusted operating income	$	16,954		$	11,721		$	7,018		$	3,554
Adjustments:
Depreciation		(4,237	)		(4,239	)		(4,230	)		(4,214	)
Amortization of intangible assets		(1,372	)		(1,599	)		(1,657	)		(1,680	)
Impairment of goodwill		—			—			—			(25,800	)
Share-based payments		(1,072	)		(1,325	)		(900	)		(857	)
Restructuring, net		(75	)		18			(836	)		1,858

Operating income (loss)	$	10,198		$	4,576		$	(605	)	$	(27,139	)
Other income (expense), net		(1,165	)		(1,216	)		(1,448	)		437
Income tax expense		(1,881	)		(2,174	)		(942	)		(165	)
Income (loss) from discontinued operations		45			(29	)		(2,334	)		—

Net gain (loss)	$	7,197		$	1,157		$	(5,329	)	$	(26,867	)

Total assets of continuing operations:
Americas	$	179,427		$	174,084		$	180,193		$	186,643
Asia		179,340			140,187			121,990			113,820
Europe		138,456			128,120			128,143			135,135
TFL		—			31,942			32,874			23,256
All other		40,396			28,757			28,205			27,740

Sub-total		537,619			503,090			491,405			486,594
Corporate-level activity		39,596			40,608			39,366			39,347

	$	577,215		$	543,698		$	530,771		$	525,941

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

Principles of Consolidation

DIVIDEND

12 Months Ended

Jul. 31, 2012

DIVIDEND

(22) DIVIDEND

On March 7, 2011, the Company announced that its Board of Directors had declared a special dividend of $0.9134 per common share outstanding, or $40.0 million in the aggregate, with a payment date of March 31, 2011 and a record date of March 17, 2011 (the “Special Dividend”). The aggregate amount paid to stockholders through the Special Dividend included amounts that remained under the June 2010 Repurchase Program at that time. No dividend was issued during fiscal year 2012.

The Company performed an analysis and determined that the special dividend was not taxable as ordinary income as the Company did not have accumulated earnings or profits as determined for U.S. federal income tax purposes. As the Company did not have accumulated earnings and profits, the special dividend was treated as a return of capital that reduces the stockholders’ adjusted tax basis in the Common Stock.

SUBSEQUENT EVENTS

12 Months Ended

Jul. 31, 2012

SUBSEQUENT EVENTS

(23) SUBSEQUENT EVENTS

On June 13, 2012, the Company received notice from the NASDAQ Stock Market (“NASDAQ”) stating that the Company is not in compliance with Listing Rule 5250(c)(1) for continued listing due to the Company’s inability to file with the SEC the Company’s Quarterly Report on Form 10-Q for the quarter ended April 30, 2012 (the “Initial Delinquent Filing”) on a timely basis. The notification was issued in accordance with standard NASDAQ procedures and had no immediate effect on the listing or trading of the Company’s common stock on the NASDAQ Global Select Market. Pursuant to NASDAQ’s letter dated June 13, 2012, the receipt of which was disclosed in the Company’s Current Report on Form 8-K filed with the SEC on June 15, 2012, the Company had until August 13, 2012 to submit a plan to regain compliance with respect to the Initial Delinquent Filing. On August 13, 2012, the Company submitted its plan to regain compliance. On August 28, 2012, the Company was informed that NASDAQ had granted an exception to its rules to enable the Company to regain compliance by December 10, 2012. On October 16, 2012, the Company received another letter from NASDAQ, as a result of its inability to file with the SEC its Annual Report on Form 10-K for the year ended July 31, 2012 by its required filing deadline (the “Second Delinquent Filing”). In that letter, the receipt of which was disclosed in the Company’s Current Report on Form 8-K filed with the SEC on October 17, 2012, NASDAQ noted that the Second Delinquent Filing was an additional instance of non-compliance which could lead to delisting from NASDAQ. On December 11, 2012, the Company received a third letter from NASDAQ, as a result of its failure to regain compliance with the NASDAQ listing requirements by December 10, 2012. In that letter, the receipt of which was disclosed in the Company’s Current Report on Form 8-K filed with the SEC on December 13, 2012, NASDAQ noted that the failure to file the Initial Delinquent Filing and the Second Delinquent Filing by December 10, 2012 led NASDAQ to determine that the Company’s common stock would be delisted, subject to the Company’s right to appeal such determination. On December 17, 2012, the Company requested a hearing to appeal such determination, which resulted in an automatic stay of the delisting for 15 days. On December 18, 2012, the Company received another letter from NASDAQ, as a result of its inability to file with the SEC its Quarterly Report on Form 10-Q for the quarter ended October 31, 2012 by its required filing deadline (the “Third Delinquent Filing”). In that letter, the receipt of which was disclosed in the Company’s Current Report on Form 8-K filed with the SEC on December 21, 2012, NASDAQ noted that the Third Delinquent Filing was an additional instance of non-compliance which could lead to delisting from NASDAQ. By letter dated December 31, 2012, the NASDAQ Hearings Panel has granted the Company’s request to extend the automatic stay of suspension of trading of the Company’s common stock pending completion of the hearing process and a final determination regarding continued listing.

On August 16, 2012, the Company and certain of its subsidiaries entered into the Third Amendment to Amended and Restated Credit Agreement and Forbearance Agreement (“Third Amendment to the Credit Facility”) with Bank of America, N.A., Silicon Valley Bank and HSBC Bank USA, National Association (the “Lenders”). Under the Third Amendment to the Credit Facility, (i) the aggregate revolving commitment of the Lenders was $15,000,000 and (ii) interest under the Credit Facility would accrue, depending on the type of borrowing, at the base rate or the Eurodollar rate, plus, in each case, an applicable rate that varied from 1.50% to 2.00% for the base rate and 2.50% to 3.00% for the Eurodollar rate, depending on the Company’s consolidated leverage ratio. The Third Amendment to the Credit Facility changed the Credit Facility termination date to October 31, 2012 and added a new financial covenant, minimum net global cash of $45,000,000. Additionally, the Third Amendment to the Credit Facility provided a forbearance from the Lenders exercising their rights and remedies related to certain events of default, including events of default resulting from failure to meet certain minimum EBITDA requirements and violations of the reporting requirements under the Credit Facility that were delayed due to the Company’s inability to file with the SEC the Company’s Quarterly Report on Form 10-Q for the quarter ended April 30, 2012, as previously disclosed in its Form 12b-25 filed on June 11, 2012. The Credit Fancily terminated, by its terms, on October 31, 2012.

On October 31, 2012, the Company and certain of its domestic subsidiaries entered into a Credit Agreement (the “New Credit Facility”) with Wells Fargo Bank, National Association as lender and agent for the lenders party thereto. The New Credit Facility provides a senior secured revolving credit facility up to an initial aggregate principal amount of $50.0 million and is secured by substantially all of the domestic assets of the Company. The New Credit Facility terminates on October 31, 2015. Interest on the New Credit Facility is based at the Company’s option at LIBOR plus 2.5% or at a base rate (as defined in the New Credit Facility) plus 1.5%. The New Credit Facility includes a minimum EBITDA restrictive covenant.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jul. 31, 2012

Principles of Consolidation

Use of Estimates

Use of Estimates

Revenue Recognition

Revenue Recognition

The Company applies the provisions of ASC Topic 985, “Software” (“ASC Topic 985”), with respect to certain transactions involving the sale of software products by our e-Business operations.

Foreign Currency Translation

Foreign Currency Translation

Cash, Cash Equivalents and Short-term Investments

Cash, Cash Equivalents and Short-term Investments

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Investments

Investments

Inventory

Inventory

Inventories consisted of the following:


	July 31,
	2012		2011 (As Restated)		2010
	(in thousands)
Raw materials	$	56,198	$	46,940	$	49,591
Work-in-process		2,154		2,101		2,006
Finished goods		25,638		27,842		22,499

	$	83,990	$	76,883	$	74,096

Long-Lived Assets, Goodwill and Other Intangible Assets

Long-Lived Assets, Goodwill and Other Intangible Assets

Restructuring Expenses

Restructuring Expenses

Property and Equipment

Property and Equipment


Buildings			32 years
Machinery & equipment			3 to 5 years
Furniture & fixtures			5 to 7 years
Automobiles			5 years
Leasehold improvements			5 to 7 years
Software			3 to 8 years

Maintenance and repairs are charged to operating expenses as incurred. Major renewals and betterments are added to property and equipment accounts at cost.

Income Taxes

Income Taxes

Treasury Stock

Treasury Stock

Treasury stock is accounted for under the cost method and is included as a deduction from equity in the Stockholders’ Equity section of the Consolidated Balance Sheets.

Earnings (Loss) Per Share

Earnings (Loss) Per Share


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(In thousands)
BASIC
Loss from continuing operations	$	(38,599	)	$	(34,135	)	$	(21,523	)	$	(199,509	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126
Less net income allocable to participating restricted stock		—			—			—			—

Net loss available for basic common shares	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)

Weighted average common shares outstanding		43,565			43,294			44,104			45,372

Basic net loss per common share from continuing operations	$	(0.88	)	$	(0.79	)	$	(0.49	)	$	(4.39	)
Basic net income (loss) per common share from discontinued operations		0.01			(0.01	)		(0.05	)		—

Basic net loss per common share	$	(0.87	)	$	(0.80	)	$	(0.54	)	$	(4.39	)

DILUTED
Loss from continuing operations	$	(38,599	)	$	(34,135	)	$	(21,523	)	$	(199,509	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126
Less net income allocable to participating restricted stock		—			—			—			—

Net loss available for diluted common shares	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)

Weighted average common shares outstanding		43,565			43,294			44,104			45,372
Weighted average common equivalent shares arising from: dilutive stock options		—			—			—			—

Weighted-average number of common and potential common shares		43,565			43,294			44,104			45,372

Diluted net loss per common share from continuing operations	$	(0.88	)	$	(0.79	)	$	(0.49	)	$	(4.39	)
Diluted net income (loss) per common share from discontinued operations		0.01			(0.01	)		(0.05	)		—

Diluted net loss per common share	$	(0.87	)	$	(0.80	)	$	(0.54	)	$	(4.39	)

Share-Based Compensation Plans

Share-Based Compensation Plans

Major Clients and Concentration of Credit Risk

Major Clients and Concentration of Credit Risk

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

Recent Accounting Pronouncements

Recent Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jul. 31, 2012

Components of Inventories

Inventories consisted of the following:


	July 31,
	2012		2011 (As Restated)		2010
	(in thousands)
Raw materials	$	56,198	$	46,940	$	49,591
Work-in-process		2,154		2,101		2,006
Finished goods		25,638		27,842		22,499

	$	83,990	$	76,883	$	74,096

Estimated Useful lives of Property Plant and Equipment

The estimated useful lives are as follows:


Buildings			32 years
Machinery & equipment			3 to 5 years
Furniture & fixtures			5 to 7 years
Automobiles			5 years
Leasehold improvements			5 to 7 years
Software			3 to 8 years

Reconciliation of Earnings Per Share

The following table reconciles earnings per share for the fiscal years ended July 31, 2012, 2011, 2010 and 2009.


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(In thousands)
BASIC
Loss from continuing operations	$	(38,599	)	$	(34,135	)	$	(21,523	)	$	(199,509	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126
Less net income allocable to participating restricted stock		—			—			—			—

Net loss available for basic common shares	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)

Weighted average common shares outstanding		43,565			43,294			44,104			45,372

Basic net loss per common share from continuing operations	$	(0.88	)	$	(0.79	)	$	(0.49	)	$	(4.39	)
Basic net income (loss) per common share from discontinued operations		0.01			(0.01	)		(0.05	)		—

Basic net loss per common share	$	(0.87	)	$	(0.80	)	$	(0.54	)	$	(4.39	)

DILUTED
Loss from continuing operations	$	(38,599	)	$	(34,135	)	$	(21,523	)	$	(199,509	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126
Less net income allocable to participating restricted stock		—			—			—			—

Net loss available for diluted common shares	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)

Weighted average common shares outstanding		43,565			43,294			44,104			45,372
Weighted average common equivalent shares arising from: dilutive stock options		—			—			—			—

Weighted-average number of common and potential common shares		43,565			43,294			44,104			45,372

Diluted net loss per common share from continuing operations	$	(0.88	)	$	(0.79	)	$	(0.49	)	$	(4.39	)
Diluted net income (loss) per common share from discontinued operations		0.01			(0.01	)		(0.05	)		—

Diluted net loss per common share	$	(0.87	)	$	(0.80	)	$	(0.54	)	$	(4.39	)

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

12 Months Ended

Jul. 31, 2012

CONSOLIDATED BALANCE SHEETS

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

July 31, 2011

(in thousands, except share data)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	111,225		$	—		$	—		$	111,225
Available-for-sale securities		131			—			—			131
Accounts receivable, trade, net of allowance for doubtful accounts of $473		146,411			—			—			146,411
Inventories, net		77,102			—			(219	)		76,883
Prepaid expenses and other current assets		10,876			—			—			10,876

Total current assets		345,745			—			(219	)		345,526

Property and equipment, net		47,299			—			104			47,403
Investments in affiliates		12,016			—			—			12,016
Goodwill		3,058			—			—			3,058
Other intangible assets, net		4,699			—			—			4,699
Other assets		9,545			—			—			9,545

Total assets	$	422,362		$	—		$	(115	)	$	422,247

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	43		$	—		$	51		$	94
Accounts payable		114,588			—			—			114,588
Current portion of accrued restructuring		1,456			—			—			1,456
Accrued income taxes		180			—			—			180
Accrued expenses		36,384			—			—			36,384
Other current liabilities		7,029			30,706			889			38,624
Current liabilities of discontinued operations		1,817			—			—			1,817

Total current liabilities		161,497			30,706			940			193,143

Long-term portion of accrued restructuring		8			—			—			8
Obligations under capital leases, less current installments		22			—			64			86
Other long-term liabilities		15,773			—			(3,188	)		12,585
Non-current liabilities of discontinued operations		1,883			—			—			1,883

Total liabilities		179,183			30,706			(2,184	)		207,705

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,829,097 issued and outstanding shares		438			—			—			438
Additional paid-in capital		7,387,135			—			—			7,387,135
Treasury stock, at cost		—			—			—			—
Accumulated deficit		(7,170,030	)		(30,706	)		2,069			(7,198,667	)
Accumulated other comprehensive income		25,636			—			—			25,636

Total stockholders’ equity		243,179			(30,706	)		2,069			214,542

Total liabilities and stockholders’ equity	$	422,362		$	—		$	(115	)	$	422,247

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

July 31, 2010

(in thousands, except share data)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	161,364		$	—		$	—		$	161,364
Available-for-sale securities		270			—			—			270
Accounts receivable, trade, net of allowance for doubtful accounts of $919		159,768			—			—			159,768
Inventories, net		74,096			—			—			74,096
Prepaid expenses and other current assets		14,226			—			—			14,226

Total current assets		409,724			—			—			409,724

Property and equipment, net		52,906			—			155			53,061
Investments in affiliates		13,016			—			—			13,016
Goodwill		16,207			—			—			16,207
Other intangible assets, net		24,173			—			—			24,173
Other assets		9,760			—			—			9,760

Total assets	$	525,786		$	—		$	155		$	525,941

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	40		$	—		$	51		$	91
Accounts payable		132,098			—			—			132,098
Current portion of accrued restructuring		2,632			—			—			2,632
Accrued income taxes		48			—			—			48
Accrued expenses		45,729			—			234			45,963
Other current liabilities		4,773			42,282			594			47,649
Current liabilities of discontinued operations		1,791			—			—			1,791

Total current liabilities		187,111			42,282			879			230,272

Long-term portion of accrued restructuring		1,000			—			—			1,000
Obligations under capital leases, less current installments		29			—			115			144
Other long-term liabilities		15,656			—			66			15,722
Non-current liabilities of discontinued operations		3,289			—			—			3,289

Total liabilities		207,085			42,282			1,060			250,427

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding					—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,039,938 issued and 43,729,338 outstanding shares		440			—			—			440
Additional paid-in capital		7,427,031			—			—			7,427,031
Treasury stock, at cost		(1,992	)		—			—			(1,992	)
Accumulated deficit		(7,121,015	)		(42,282	)		(905	)		(7,164,202	)
Accumulated other comprehensive income		14,237			—			—			14,237

Total stockholders’ equity		318,701			(42,282	)		(905	)		275,514

Total liabilities and stockholders’ equity	$	525,786		$	—		$	155		$	525,941

CONSOLIDATED STATEMENTS OF OPERATIONS

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended July 31, 2011

(in thousands, except per share amounts)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	876,466		$	(1,969	)	$	(749	)	$	873,748
Cost of revenue		792,833			—			(24	)		792,809

Gross profit		83,633			(1,969	)		(725	)		80,939

Operating expenses:
Selling, general and administrative		85,187			—			—			85,187
Amortization of intangible assets		5,457			—			—			5,457
Impairment of goodwill and long-lived assets		27,166			—			—			27,166
Restructuring, net		795			—			—			795

Total operating expenses		118,605			—			—			118,605

Operating income (loss)		(34,972	)		(1,969	)		(725	)		(37,666	)

Other income (expense):
Interest income		238			—			—			238
Interest expense		(453	)		—			(9	)		(462	)
Other gains (losses), net		(4,663	)		13,545			—			8,882
Equity in losses of affiliates and impairments		(4,308	)		—			—			(4,308	)

		(9,186	)		13,545			(9	)		4,350

Income (loss) from continuing operations before income taxes		(44,158	)		11,576			(734	)		(33,316	)
Income tax expense (benefit)		4,527			—			(3,708	)		819

Income (loss) from continuing operations		(48,685	)		11,576			2,974			(34,135	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations		(330	)		—			—			(330	)

Net income (loss)	$	(49,015	)	$	11,576		$	2,974		$	(34,465	)

Basic and diluted loss per share
Loss from continuing operations	$	(1.12	)	$	0.26		$	0.07		$	(0.79	)
Loss from discontinued operations	$	(0.01	)	$	—		$	—		$	(0.01	)

Net loss	$	(1.13	)	$	0.26		$	0.07		$	(0.80	)

Shares used in computing basic loss per share		43,294			—			—			43,294

Shares used in computing diluted loss per share		43,294			—			—			43,294

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended July 31, 2010

(in thousands, except per share amounts)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	923,996		$	(4,891	)	$	(660	)	$	918,445
Cost of revenue		807,393			—			23			807,416

Gross profit		116,603			(4,891	)		(683	)		111,029

Operating expenses:
Selling, general and administrative		92,855			—			—			92,855
Amortization of intangible assets		6,308			—			—			6,308
Impairment of goodwill and long-lived assets		25,800			—			—			25,800
Restructuring, net		(1,433	)		—			468			(965	)

Total operating expenses		123,530			—			468			123,998

Operating income (loss)		(6,927	)		(4,891	)		(1,151	)		(12,969	)

Other income (expense):
Interest income		298			—			—			298
Interest expense		(561	)		—			(12	)		(573	)
Other gains (losses), net		(988	)		—			—			(988	)
Equity in losses of affiliates and impairments		(2,129	)		—			—			(2,129	)

		(3,380	)		—			(12	)		(3,392	)

Income (loss) from continuing operations before income taxes		(10,307	)		(4,891	)		(1,163	)		(16,361	)
Income tax expense (benefit)		5,162			—			—			5,162

Income (loss) from continuing operations		(15,469	)		(4,891	)		(1,163	)		(21,523	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations		(2,318	)		—			—			(2,318	)

Net income (loss)	$	(17,787	)	$	(4,891	)	$	(1,163	)	$	(23,841	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.35	)	$	(0.11	)	$	(0.03	)	$	(0.49	)
Loss from discontinued operations		(0.05	)		—			—			(0.05	)

Net loss	$	(0.40	)	$	(0.11	)	$	(0.03	)	$	(0.54	)

Shares used in computing basic loss per share		44,104			—			—			44,104

Shares used in computing diluted loss per share		44,104			—			—			44,104

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended July 31, 2009

(in thousands, except per share amounts)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	1,008,554		$	(6,574	)	$	—		$	1,001,980
Cost of revenue		886,119			—			25			886,144

Gross profit		122,435			(6,574	)		(25	)		115,836

Operating expenses:
Selling, general and administrative		100,409			—			(471	)		99,938
Amortization of intangible assets		5,485			—			—			5,485
Impairment of goodwill and long-lived assets		164,682			—			—			164,682
Restructuring, net		19,552			—			(211	)		19,341

Total operating expenses		290,128			—			(682	)		289,446

Operating income (loss)		(167,693	)		(6,574	)		657			(173,610	)

Other income (expense):
Interest income		1,493			—			—			1,493
Interest expense		(802	)		—			(14	)		(816	)
Other gains (losses), net		820			—			—			820
Equity in losses of affiliates and impairments		(16,565	)		—			—			(16,565	)

		(15,054	)		—			(14	)		(15,068	)

Income (loss) from continuing operations before income taxes		(182,747	)		(6,574	)		643			(188,678	)
Income tax expense (benefit)		10,831			—			—			10,831

Income (loss) from continuing operations		(193,578	)		(6,574	)		643			(199,509	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations		126			—			—			126

Net income (loss)	$	(193,452	)	$	(6,574	)	$	643		$	(199,383	)

Basic and diluted loss per share
Loss from continuing operations	$	(4.26	)	$	(0.14	)	$	0.01		$	(4.39	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(4.26	)	$	(0.14	)	$	0.01		$	(4.39	)

Shares used in computing basic loss per share		45,372			—			—			45,372

Shares used in computing diluted loss per share		45,372			—			—			45,372

CONSOLIDATED STATEMENTS OF CASH FLOWS

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Ended July 31, 2011

(in thousands)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Cash flows from operating activities of continuing operations:
Net loss	$	(49,015	)	$	11,576		$	2,974		$	(34,465	)
Income (loss) from discontinued operations		(330	)		—			—			(330	)

Loss from continuing operations		(48,685	)		11,576			2,974			(34,135	)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:
Depreciation		16,782			—			51			16,833
Impairment of goodwill and long-lived assets		27,166			—			—			27,166
Amortization of intangible assets		5,457			—			—			5,457
Share-based payments		3,481			—			—			3,481
Non-operating losses (gains)		4,663			(13,545	)		—			(8,882	)
Equity in losses of affiliates and impairments		4,308			—			—			4,308
Changes in operating assets and liabilities, excluding effects from acquisition:					—
Trade accounts receivable, net		20,050			—			—			20,050
Inventories		364			—			219			583
Prepaid expenses and other current assets		3,906			—			—			3,906
Accounts payable, accrued restructuring and accrued expenses		(38,277	)		—			(234	)		(38,511	)
Refundable and accrued income taxes, net		411			—			(3,708	)		(3,297	)
Other assets and liabilities		(2,843	)		1,969			749			(125	)

Net cash provided by (used in) operating activities of continuing operations		(3,217	)		—			51			(3,166	)

Cash flows from investing activities of continuing operations:
Additions to property and equipment		(8,968	)		—			—			(8,968	)
Investments in affiliates		(3,473	)		—			—			(3,473	)
Proceeds from the sale of available-for-sale securities		115			—			—			115
Proceeds from the sale of equity investments in affiliates		238			—			—			238

Net cash used in investing activities of continuing operations		(12,088	)		—			—			(12,088	)

Cash flows from financing activities of continuing operations:
Payments of dividends		(40,001	)		—			—			(40,001	)
Repayments on capital lease obligations		(55	)		—			(51	)		(106	)
Proceeds from issuance of common stock		204			—			—			204
Repurchase of common stock		(1,633	)		—			—			(1,633	)

Net cash used in financing activities of continuing operations		(41,485	)		—			(51	)		(41,536	)

Cash flows from discontinued operations:
Operating cash flows		(1,713	)		—			—			(1,713	)

Net cash used in discontinued operations		(1,713	)		—			—			(1,713	)

Net effect of exchange rate changes on cash and cash equivalents		8,364			—			—			8,364

Net decrease in cash and cash equivalents		(50,139	)		—			—			(50,139	)
Cash and cash equivalents at beginning of year		161,364			—			—			161,364

Cash and cash equivalents at end of year	$	111,225		$	—		$	—		$	111,225

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Ended July 31, 2010

(in thousands)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Cash flows from operating activities of continuing operations:
Net loss	$	(17,787	)	$	(4,891	)	$	(1,163	)	$	(23,841	)
Income (loss) from discontinued operations		(2,318	)		—			—			(2,318	)

Loss from continuing operations		(15,469	)		(4,891	)		(1,163	)		(21,523	)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:
Depreciation		16,867			—			51			16,918
Impairment of goodwill and long-lived assets		25,800			—			—			25,800
Amortization of intangible assets		6,308			—			—			6,308
Share-based payments		4,154			—			—			4,154
Non-operating losses (gains)		988			—			—			988
Equity in losses of affiliates and impairments		2,129			—			—			2,129
Changes in operating assets and liabilities, excluding effects from acquisition:
Trade accounts receivable, net		9,607			—			—			9,607
Inventories		(7,604	)		—			—			(7,604	)
Prepaid expenses and other current assets		707			—			—			707
Accounts payable, accrued restructuring and accrued expenses		1,807			—			500			2,307
Refundable and accrued income taxes, net		171			—						171
Other assets and liabilities		(4,317	)		4,891			659			1,233

Net cash provided by (used in) operating activities of continuing operations		41,148			—			47			41,195

Cash flows from investing activities of continuing operations:
Additions to property and equipment		(9,194	)		—			—			(9,194	)
Redemption (purchase) of short-term investments		10,000			—			—			10,000
Investments in affiliates		(3,402	)		—			—			(3,402	)
Proceeds from the sale of equity investments in affiliates		1,319			—			—			1,319
Business acquisitions, net of cash acquired		(29,580	)		—			—			(29,580	)

Net cash used in investing activities of continuing operations		(30,857	)		—			—			(30,857	)

Cash flows from financing activities of continuing operations:
Repayments on capital lease obligations		(477	)		—			(47	)		(524	)
Line of credit origination costs		(782	)		—			—			(782	)
Proceeds from issuance of common stock		331			—			—			331
Repurchase of common stock		(13,521	)		—			—			(13,521	)

Net cash used in financing activities of continuing operations		(14,449	)		—			(47	)		(14,496	)

Cash flows from discontinued operations:
Operating cash flows		(1,723	)		—			—			(1,723	)

Net cash used in discontinued operations		(1,723	)		—			—			(1,723	)

Net effect of exchange rate changes on cash and cash equivalents		(1,522	)		—			—			(1,522	)

Net decrease in cash and cash equivalents		(7,403	)		—			—			(7,403	)
Cash and cash equivalents at beginning of year		168,767			—			—			168,767

Cash and cash equivalents at end of year	$	161,364		$	—		$	—		$	161,364

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Ended July 31, 2009

(in thousands)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Cash flows from operating activities of continuing operations:
Net loss	$	(193,452	)	$	(6,574	)	$	643			(199,383	)
Income (loss) from discontinued operations		126			—			—			126

Loss from continuing operations		(193,578	)		(6,574	)		643			(199,509	)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:
Depreciation		20,012			—			45			20,057
Impairment of goodwill and long-lived assets		164,682			—			—			164,682
Amortization of intangible assets		5,485			—			—			5,485
Share-based payments		5,103			—			—			5,103
Non-operating losses (gains)		(820	)		—			—			(820	)
Equity in losses of affiliates and impairments		16,565			—			—			16,565
Non-cash restructuring charges		389			—			—			389
Changes in operating assets and liabilities, excluding effects from acquisition:
Trade accounts receivable, net		33,138			—			—			33,138
Inventories		18,737			—			—			18,737
Prepaid expenses and other current assets		(390	)		—			—			(390	)
Accounts payable, accrued restructuring and accrued expenses		(38,327	)		—			(649	)		(38,976	)
Refundable and accrued income taxes, net		(168	)		—			—			(168	)
Other assets and liabilities		5,115			6,574			—			11,689

Net cash provided by (used in) operating activities of continuing operations		35,943			—			39			35,982

Cash flows from investing activities of continuing operations:
Additions to property and equipment		(11,060	)		—			—			(11,060	)
Redemption (purchase) of short-term investments		(10,000	)		—			—			(10,000	)
Investments in affiliates		(9,533	)		—			—			(9,533	)
Proceeds from the sale of equity investments in affiliates		18,008			—			—			18,008

Net cash used in investing activities of continuing operations		(12,585	)		—			—			(12,585	)

Cash flows from financing activities of continuing operations:
Repayments on capital lease obligations		(369	)		—			(39	)		(408	)
Proceeds from issuance of common stock		113			—			—			113
Repurchase of common stock		(7,137	)		—			—			(7,137	)

Net cash used in financing activities of continuing operations		(7,393	)		—			(39	)		(7,432	)

Cash flows from discontinued operations:
Operating cash flows		(2,276	)		—			—			(2,276	)

Net cash used in discontinued operations		(2,276	)		—			—			(2,276	)

Net effect of exchange rate changes on cash and cash equivalents		(5,507	)		—			—			(5,507	)

Net increase in cash and cash equivalents		8,182			—			—			8,182
Cash and cash equivalents at beginning of year		160,585			—			—			160,585

Cash and cash equivalents at end of year	$	168,767			—			—		$	168,767

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION (Tables)

12 Months Ended

Jul. 31, 2012

Cash Used for Operating Activities Reflect Cash Payments for Interest and Income Taxes

Cash used for operating activities reflect cash payments for interest and income taxes as follows:


	Years Ended July 31,
	2012		2011		2010		2009
	(in thousands)
Cash paid for interest	$	26	$	4	$	50	$	116
Cash paid for income taxes	$	3,538	$	5,419	$	4,539	$	9,898

SEGMENT INFORMATION (Tables)

12 Months Ended

Jul. 31, 2012

Summarized Financial Information of Continuing Operations by Operating Segment and Corporate-Level Activity

Summarized financial information of the Company’s continuing operations by operating segment is as follows:


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(in thousands)
Net revenue:
Americas	$	249,940		$	296,362		$	307,552		$	327,455
Asia		218,880			233,724			262,594			296,756
Europe		211,319			275,065			283,584			333,181
TFL		25,944			29,471			23,712			—
All other		33,808			39,126			41,003			44,588

	$	739,891		$	873,748		$	918,445		$	1,001,980

Operating income (loss):
Americas	$	(14,108	)	$	(29,984	)	$	(26,253	)	$	(98,896	)
Asia		21,450			29,168			47,364			(34,790	)
Europe		(15,718	)		(6,181	)		(4,865	)		(27,944	)
TFL		(11,032	)		(16,139	)		(12,244	)		—
All other		634			1,889			(2,933	)		2,120

Total segment operating income (loss)		(18,774	)		(21,247	)		1,069			(159,510	)
Other reconciling items		(27,119	)		(16,419	)		(14,038	)		(14,100	)

Total operating loss	$	(45,893	)	$	(37,666	)	$	(12,969	)	$	(173,610	)

Adjusted operating income (loss):
Americas	$	(7,675	)	$	(6,029	)	$	(3,644	)	$	(6,935	)
Asia		26,811			36,155			54,261			49,472
Europe		(6,061	)		198			(319	)		4,541
TFL		(8,781	)		(4,026	)		(1,226	)		—
All other		2,941			3,811			1,768			4,839

Total segment adjusted operating income (loss)		7,235			30,109			50,840			51,917
Other reconciling items		(25,285	)		(14,043	)		(11,594	)		(10,859	)

Total adjusted operating income (loss)	$	(18,050	)	$	16,066		$	39,246		$	41,058

Adjusted operating income (loss)	$	(18,050	)	$	16,066		$	39,246		$	41,058
Adjustments:
Depreciation		(14,057	)		(16,833	)		(16,918	)		(20,057	)
Amortization of intangible assets		(1,279	)		(5,457	)		(6,308	)		(5,485	)
Impairment of goodwill and long-lived assets		(2,062	)		(27,166	)		(25,800	)		(164,682	)
Share-based payments		(2,990	)		(3,481	)		(4,154	)		(5,103	)
Restructuring, net		(7,455	)		(795	)		965			(19,341	)

Operating loss	$	(45,893	)	$	(37,666	)	$	(12,969	)	$	(173,610	)
Other income (expense), net		10,329			4,350			(3,392	)		(15,068	)
Income tax expense		(3,035	)		(819	)		(5,162	)		(10,831	)
Income (loss) from discontinued operations		491			(330	)		(2,318	)		126

Net loss	$	(38,108	)	$	(34,465	)	$	(23,841	)	$	(199,383	)


	July 31,
	2012		2011 (As Restated)		2010 (As Restated)
	(in thousands)
Total assets of continuing operations:
Americas	$	101,931	$	121,481	$	186,643
Asia		111,660		125,059		113,820
Europe		105,472		120,422		135,135
TFL		2,750		11,029		23,256
All other		20,758		24,809		27,740

Sub-total		342,571		402,800		486,594
Corporate-level activity		16,311		19,447		39,347

	$	358,882	$	422,247	$	525,941

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

Summarized financial information for the discontinued operations

DISCONTINUED OPERATIONS AND DIVESTITURES (Tables)

12 Months Ended

Jul. 31, 2012

Summarized financial information for the discontinued operations of the Company are as follows:


	Years Ended July 31,
	2012			2011			2010			2009
	(in thousands)
Results of operations:
Net revenue	$	—		$	—		$	—		$	—
Other income		586			—			—			126
Total expenses		(95	)		(330	)		(2,318	)		—

Income (loss) from discontinued operations	$	491		$	(330	)	$	(2,318	)	$	126


	July 31,
	2012			2011			2010
	(in thousands)
Financial position:
Current assets	$	—		$	—		$	—
Current liabilities		(1,528	)		(1,817	)		(1,791	)
Non-current liabilities		(293	)		(1,883	)		(3,289	)

Net liabilities of discontinued operations	$	(1,821	)	$	(3,700	)	$	(5,080	)

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

Property and Equipment at Cost

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jul. 31, 2012

Property and equipment at cost, consists of the following:


	July 31,
	2012			2011 (As Restated)			2010 (As Restated)
	(in thousands)
Buildings	$	20,299		$	23,833		$	20,350
Machinery and equipment		18,565			22,122			24,245
Leasehold improvements		18,482			18,321			18,389
Software		40,461			39,743			37,970
Other		5,449			7,078			6,634

		103,256			111,097			107,588
Less: Accumulated depreciation and amortization		(62,484	)		(63,694	)		(54,527	)

Net property and equipment, at cost	$	40,772		$	47,403		$	53,061

Assets under Capital Leases

Assets under capital leases which are included in the amounts above are summarized as follows:


	July 31,
	2012			2011 (As Restated)			2010 (As Restated)
	(in thousands)
Buildings	$	—		$	—		$	3,734
Machinery and equipment		445			449			411
Other		—			46			46
Less: Accumulated amortization		(275	)		(284	)		(3,937	)

	$	170		$	211		$	254

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Jul. 31, 2012

The Changes in the Carrying Amount of Goodwill Allocated to Operating Segments

The changes in the carrying amount of goodwill allocated to the Company’s operating segments are as follows:


	Americas			Asia			Europe			TFL			All Other			Consolidated Total
	(in thousands)
Balance as of July 31, 2009
Goodwill	$	94,477		$	73,948		$	30,108		$	—		$	5,857			204,390
Accumulated impairment charges		(74,626	)		(73,948	)		(30,108	)		—			—			(178,682	)

	$	19,851		$	—		$	—		$	—		$	5,857		$	25,708

Goodwill from the acquisition of TFL		—			—			—			16,299			—			16,299
Impairment of goodwill		(12,801	)		—			—			(10,200	)		(2,799	)		(25,800	)

Balance as of July 31, 2010
Goodwill	$	94,477		$	73,948		$	30,108		$	16,299		$	5,857			220,689
Accumulated impairment charges		(87,427	)		(73,948	)		(30,108	)		(10,200	)		(2,799	)		(204,482	)

	$	7,050		$	—		$	—		$	6,099		$	3,058		$	16,207

Impairment of goodwill		(7,050	)		—			—			(6,099	)		—			(13,149	)
Balance as of July 31, 2011
Goodwill		94,477			73,948			30,108			16,299			5,857			220,689
Accumulated impairment charges		(94,477	)		(73,948	)		(30,108	)		(16,299	)		(2,799	)		(217,631	)

	$	—		$	—		$	—		$	—		$	3,058		$	3,058

Balance as of July 31, 2012
Goodwill		94,477			73,948			30,108			16,299			5,857			220,689
Accumulated impairment charges		(94,477	)		(73,948	)		(30,108	)		(16,299	)		(2,799	)		(217,631	)

	$	—		$	—		$	—		$	—		$	3,058		$	3,058

Components of Intangible Assets

The components of intangible assets are as follows (in thousands):


	July 31, 2012								July 31, 2011
	Gross Carryin gAmount		Accumulated amortization/ impairment		Net Book Value		Weighted average amortization period		Gross Carrying Amount		Accumulated amortization/ impairment		Net Book Value		Weighted average amortization period
Client Relationships	$	34,500	$	32,847	$	1,653		7 years	$	34,500	$	32,215	$	2,285		7 years
Developed Technology		13,992		12,990		1,002		3 to 7 years		13,992		12,211		1,781		3 to 7 years
Trade Names		5,405		5,174		231		3 to 7 years		5,405		4,801		604		3 to 7 years
Non-competes		713		702		11		1 to 5 years		713		684		29		1 to 5 years

Total	$	54,610	$	51,713	$	2,897			$	54,610	$	49,911	$	4,699


	July 31, 2010
	Gross Carrying Amount		Accumulated amortization/ impairment		Net Book Value		Weighted average amortization period
Client Relationships	$	34,500	$	21,503	$	12,997		7 to 10 years
Developed Technology		13,992		5,638		8,354		3 to 8 years
Trade Names		5,405		2,800		2,605		3 to 8 years
Non-competes		713		496		217		1 to 5 years

Total	$	54,610	$	30,437	$	24,173

Estimated Annual Amortization Expense for Intangible Assets

Estimated annual amortization expense for intangible assets for the next three years ending July 31, is as follows:


Fiscal Year	Amount
	(in thousands)
2013	$	1,133
2014	$	1,098
2015	$	666

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Activity in the Restructuring Accrual

RESTRUCTURING (Tables)

12 Months Ended

Jul. 31, 2012

The following tables summarize the activity in the restructuring accrual for the fiscal years ended July 31, 2012, 2011, 2010 and 2009:


	Employee Related Expenses			Contractual Obligations			Asset Impairments			Total
	(in thousands)
Accrued restructuring balance at July 31, 2008, as restated	$	1,848		$	8,063		$	—		$	9,911

Restructuring charges, as restated		16,292			5,080			389			21,761
Restructuring adjustments		(2,858	)		438			—			(2,420	)
Cash paid		(8,378	)		(3,550	)		—			(11,928	)
Non-cash adjustments		(62	)		(229	)		(389	)		(680	)

Accrued restructuring balance at July 31, 2009, as restated	$	6,842		$	9,802		$	—		$	16,644

Restructuring charges, as restated		54			690			—			744
Restructuring adjustments		(612	)		(1,097	)		—			(1,709	)
Cash paid		(6,103	)		(6,221	)		—			(12,324	)
Non-cash adjustments		—			277			—			277

Accrued restructuring balance at July 31, 2010	$	181		$	3,451		$	—		$	3,632

Restructuring charges		1,099			—			—			1,099
Restructuring adjustments		53			(357	)		—			(304	)
Cash paid		(1,081	)		(1,926	)		—			(3,007	)
Non-cash adjustments		44			—			—			44

Accrued restructuring balance at July 31, 2011	$	296		$	1,168		$	—		$	1,464

Restructuring charges		6,218			1,537			—			7,755
Restructuring adjustments		(439	)		139			—			(300	)
Cash paid		(5,405	)		(1,854	)		—			(7,259	)
Non-cash adjustments		(44	)		108			—			64

Accrued restructuring balance at July 31, 2012	$	626		$	1,098		$	—		$	1,724

Net Restructuring Charges


	July 31,
	2012		2011		2010 (As Restated)			2009 (As Restated)
	(in thousands)
Cost of revenue	$	3,960	$	437	$	(838	)	$	14,220
Selling, general and administrative		3,495		358		(127	)		5,121

	$	7,455	$	795	$	(965	)	$	19,341

Restructuring Accrual by Operating Segment


	Americas			Asia			Europe			TFL			All other			Corporate- level Activity			Consolidated Total
	(in thousands)
Accrued restructuring balance at July 31, 2008, as restated	$	4,437		$	174		$	5,056		$	—		$	—		$	244		$	9,911

Restructuring charges, as restated		7,660			2,204			11,001			—			644			252			21,761
Restructuring adjustments		165			(163	)		(2,422	)		—			—			—			(2,420	)
Cash paid		(3,946	)		(1,805	)		(5,901	)		—			(240	)		(36	)		(11,928	)
Non-cash adjustments		(680	)		—			—			—			—			—			(680	)

Accrued restructuring balance at July 31, 2009, as restated	$	7,636		$	410		$	7,734		$	—		$	404		$	460		$	16,644

Restructuring charges, as restated		468			43			222			—			—			11			744
Restructuring adjustments		367			(108	)		(1,929	)		—			(12	)		(27	)		(1,709	)
Cash paid		(5,600	)		(345	)		(5,543	)		—			(392	)		(444	)		(12,324	)
Non-cash adjustments		277			—			—			—			—			—			277

Accrued restructuring balance at July 31, 2010	$	3,148		$	—		$	484		$	—		$	—		$	—		$	3,632

Restructuring charges		501			593			5			—			—			—			1,099
Restructuring adjustments		(303	)		(7	)		6			—			—			—			(304	)
Cash paid		(1,993	)		(586	)		(428	)		—			—			—			(3,007	)
Non-cash adjustments		(7	)		—			51			—			—			—			44

Accrued restructuring balance at July 31, 2011	$	1,346		$	—		$	118		$	—		$	—		$	—		$	1,464

Restructuring charges		1,706			702			3,766			1,039			542			—			7,755
Restructuring adjustments		(94	)		(56	)		(85	)		—			(65	)		—			(300	)
Cash paid		(1,933	)		(647	)		(3,690	)		(855	)		(134	)		—			(7,259	)
Non-cash adjustments		61			1			(58	)		60			—			—			64

Accrued restructuring balance at July 31, 2012	$	1,086		$	—		$	51		$	244		$	343		$	—		$	1,724

OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Jul. 31, 2012

Schedule of Other Current Liabilities

The following schedule reflects the components of “Other Current Liabilities”:


	July 31,
	2012		2011 (As Restated)		2010 (As Restated)
	(in thousands)
Accrued Pricing Liabilities	$	20,397	$	30,706	$	42,282
Other		6,381		7,918		5,367

	$	26,778	$	38,624	$	47,649

OTHER GAINS (LOSSES), NET (Tables)

12 Months Ended

Jul. 31, 2012

OTHER GAINS (LOSSES), NET

The following schedule reflects the components of “Other gains (losses), net”:


	Years Ended July 31,
	2012			2011 (As Restated)			2010			2009
	(in thousands)
Derecognition of accrued pricing liabilities	$	11,811		$	13,545		$	—		$	—
Foreign currency exchange gains (losses)		2,948			(4,023	)		(977	)		(1,560	)
Gain on sale of investments		9			187			425			3,956
Impairment of investment		—			(67	)		—			(975	)
Loss on disposal of assets		(7	)		(14	)		(264	)		(308	)
Other, net		(330	)		(746	)		(172	)		(293	)

	$	14,431		$	8,882		$	(988	)	$	820

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jul. 31, 2012

Future Annual Minimum Payments, Including Restructuring Related Obligations

Future annual minimum payments, including restructuring related obligations as of July 31, 2012, are as follows:


	Operating Leases		Stadium Obligation		Capital Lease Obligations		Total
	(in thousands)
For the fiscal years ended July 31:
2013	$	23,893	$	2,400	$	78	$	26,371
2014		14,971		1,600		30		16,601
2015		9,922		1,600		14		11,536
2016		6,528		—		15		6,543
2017		4,271		—		5		4,276
Thereafter		12,884		—		—		12,884

	$	72,469	$	5,600	$	142	$	78,211

SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Jul. 31, 2012

Summary of Share-Based Compensation Expense Related to Employee Stock Options, Employee Stock Purchases and Nonvested Shares


	Years Ended July 31,
	2012		2011		2010		2009
	(in thousands)
Cost of revenue	$	344	$	374	$	337	$	392
Selling, general and administrative		2,646		3,107		3,817		4,711

	$	2,990	$	3,481	$	4,154	$	5,103

Weighted-Average Grant Date Fair Value of Employee Stock Options Granted


	Years Ended July 31,
	2012			2011			2010			2010
Expected volatility		59.56	%		62.64	%		65.77	%		56.64	%
Risk-free interest rate		0.84	%		0.99	%		1.88	%		2.34	%
Expected term (in years)		4.66			4.27			4.08			4.08
Expected dividend yield		0.00	%		0.00	%		0.00	%		0.00	%

Status of the Plans

A summary of option activity for the fiscal year ended July 31, 2012 is as follows:


	Number of shares			Weighted- Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
	(in thousands, except exercise price and years)
Stock options outstanding, July 31, 2011		2,566		$	10.97
Granted		1,252			4.26
Exercised		(2	)		3.78
Forfeited or expired		(1,129	)		10.11

Stock options outstanding, July 31, 2012		2,687		$	8.20		4.30	$	5

Stock options exercisable, July 31, 2012		1,289		$	11.46		2.61	$	5

Summary of the Status of Nonvested Stock

A summary of the status of our nonvested stock for the fiscal year ended July 31, 2012, is as follows:


	Number of shares			Weighted average grant date fair value
	(in thousands, except fair values)
Nonvested stock outstanding, July 31, 2011		566		$	7.93
Granted		461			2.27
Vested		(266	)		7.77
Forfeited		(357	)		2.29

Nonvested stock outstanding, July 31, 2012		404		$	6.56

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

Income from Continuing Operations

INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2012

Income from continuing operations:


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(in thousands)
Income (loss) from continuing operations before income taxes:
U.S.	$	(39,030	)	$	(47,697	)	$	(29,494	)	$	(133,240	)
Foreign		3,466			14,381			13,133			(55,438	)

Total loss from continuing operations before income taxes	$	(35,564	)	$	(33,316	)	$	(16,361	)	$	(188,678	)

Components of Income Tax Expense

The components of income tax expense have been recorded in the Company’s financial statements as follows:


	Years Ended July 31,
	2012		2011 (As Restated)		2010		2009
	(in thousands)
Income tax expense from continuing operations	$	3,035	$	819	$	5,162	$	10,831
Discontinued operations		—		—		—		—
Other comprehensive income		—		—		43		(529	)

Total income tax expense	$	3,035	$	819	$	5,205	$	10,302

Components of Income Tax Expense from Continuing Operations

The income tax expense from continuing operations consists of the following:


	July 31,
	2012		2011 (As Restated)		2010			2009
	(in thousands)
Current provision:
Federal	$	—	$	—	$	(367	)	$	—
State		—		—		185			—
Foreign		2,632		599		5,737			11,942

	$	2,632	$	599	$	5,555		$	11,942

Deferred provision:
Federal	$	—	$	—	$	—		$	—
State		—		—		—			—
Foreign		403		220		(393	)		(1,111	)

	$	403	$	220	$	(393	)	$	(1,111	)

Total tax provision	$	3,035	$	819	$	5,162		$	10,831

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows:


	July 31, 2012									July 31, 2011
	Current			Non-current			Total			Current (As Restated)			Non-current (As Restated)			Total (As Restated)
	(in thousands)
Deferred tax assets:
Accruals and reserves	$	13,015		$	6,641		$	19,656		$	16,615		$	11,062		$	27,677
Tax basis in excess of financial basis of investments in affiliates		—			15,468			15,468			—			15,955			15,955
Tax basis in excess of financial basis for intangible and fixed assets		—			7,402			7,402			—			5,710			5,710
Net operating loss and capital loss carryforwards		—			734,078			734,078			—			729,616			729,616

Total gross deferred tax assets		13,015			763,589			776,604			16,615			762,343			778,958
Less: valuation allowance		(12,316	)		(744,390	)		(756,706	)		(15,142	)		(739,757	)		(754,899	)

Net deferred tax assets		699			19,199			19,898			1,473			22,586			24,059

Deferred tax liabilities:
Accruals and reserves		(60	)		—			(60	)		(231	)		(1,107	)		(1,338	)
Financial basis in excess of tax basis for intangible and fixed assets		—			(1,414	)		(1,414	)		—			(2,338	)		(2,338	)
Financial basis in excess of tax basis of investments in affiliates		—			—			—			—			(26	)		(26	)
Undistributed accumulated earnings of foreign subsidiaries		—			(16,587	)		(16,587	)		—			(18,714	)		(18,714	)

Total gross deferred tax liabilities		(60	)		(18,001	)		(18,061	)		(231	)		(22,185	)		(22,416	)

Net deferred tax asset (liability)	$	639		$	1,198		$	1,837		$	1,242		$	401		$	1,643


	July 31, 2010
	Current (As Restated)			Non-current (As Restated)			Total (As Restated)
	(in thousands)
Deferred tax assets:
Accruals and reserves	$	21,417		$	14,935		$	36,352
Tax basis in excess of financial basis of investments in affiliates		—			13,966			13,966
Tax basis in excess of financial basis for intangible and fixed assets		—			4,744			4,744
Net operating loss and capital loss carryforwards		—			731,747			731,747

Total gross deferred tax assets		21,417			765,392			786,809
Less: valuation allowance		(20,221	)		(731,095	)		(751,316	)

Net deferred tax assets		1,196			34,297			35,493

Deferred tax liabilities:
Accruals and reserves		(163	)		(733	)		(896	)
Financial basis in excess of tax basis for intangible and fixed assets		—			(13,266	)		(13,266	)
Financial basis in excess of tax basis of investments in affiliates		—			(132	)		(132	)
Undistributed accumulated earnings of foreign subsidiaries		—			(19,499	)		(19,499	)

Total gross deferred tax liabilities		(163	)		(33,630	)		(33,793	)

Net deferred tax asset (liability)		1,033		$	667		$	1,700

Subsequently Reported Tax Benefits Relating to the Valuation Allowance for Deferred Tax Assets

Subsequently reported tax benefits relating to the valuation allowance for deferred tax assets as of July 31, 2012 will be allocated as follows (in thousands):


Income tax benefit recognized in the consolidated statement of operations	$	(741,245	)
Additional paid in capital		(15,461	)

	$	(756,706	)

Reconciliation of Income Tax Expense Attributable to Income from Continuing Operations


	Years Ended July 31,
	2012			2011 (As Restated)			2010 (As Restated)			2009 (As Restated)
	(in thousands)
Computed “expected” income tax expense (benefit)	$	(12,447	)	$	(11,661	)	$	(5,727	)	$	(66,037	)
Increase (decrease) in income tax expense resulting from:
Losses not benefited (utilized)		11,112			11,356			(2,424	)		13,230
State income taxes, net of federal benefit		—			—			120			—
Foreign dividends		3,298			4,041			7,535			8,858
Foreign tax rate differential		1,133			(2,220	)		(1,803	)		(6,303	)
Capitalized costs		179			408			194			306
Nondeductible goodwill impairment		—			2,467			5,460			57,639
Non-deductible expenses		355			202			210			447
Foreign withholding taxes		542			323			1,964			2,159
Reversal of uncertain tax position reserves		(1,137	)		(4,255	)		—			—
Other		—			158			(367	)		532

Actual income tax expense	$	3,035		$	819		$	5,162		$	10,831

Reconciliation of the Beginning and Ending Balances of the Total Amounts of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:


	Years Ended July 31,
	2012			2011 (As Restated)			2010			2009
	(in thousands)
Balance as of beginning of year	$	2,273		$	5,810		$	6,243		$	6,207
Additions for current year tax positions		73			—			320			423
Additions for prior year tax positions		564			—			—			78
Currency translation		—			697			101			(189	)
Settlements paid to taxing authorities		—			—			(854	)		(276	)
Reductions of prior year tax positions		(1,680	)		(4,234	)		—			—

Balance as of end of year	$	1,230		$	2,273		$	5,810		$	6,243

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

Aggregate Change in Benefit Obligation and Plan Assets

DEFINED BENEFIT PENSION PLANS (Tables)

12 Months Ended

Jul. 31, 2012

The aggregate change in benefit obligation and plan assets related to these plans was as follows:


	July 31,
	2012			2011			2010
	(in thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	13,791		$	11,441		$	11,224
Service cost		368			365			339
Interest cost		589			617			510
Actuarial (gain) loss		4,300			192			266
Employee contributions		328			390			385
Benefits and administrative expenses paid		(404	)		(184	)		(610	)
Amendments		—			—			(82	)
Transfers		—			1			—
Effect of Curtailment		—			(228	)		—
Currency translation		(1,813	)		1,197			(591	)

Benefit obligation at end of year		17,159			13,791			11,441

Change in plan assets
Fair value of plan assets at beginning of year		15,652			12,265			10,615
Actual return on plan assets		276			597			271
Employee contributions		328			390			385


Employer contributions		498			1,300			1,839
Benefits and administrative expenses paid		(404	)		(180	)		(155	)
Transfers		—			1			—
Currency translation		(2,199	)		1,279			(690	)

Fair value of plan assets at end of year		14,151			15,652			12,265

Funded status
Assets		37			2,886			1,940
Current liability		(1	)		(1	)		(1	)
Noncurrent liability		(3,049	)		(1,028	)		(1,116	)

Net amount recognized in statement of financial position as a non-current asset (liability)	$	(3,013	)	$	1,857		$	823

Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets

Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:


	Years Ended July 31,
	2012	2011	2010
	(in thousands)
Projected benefit obligation	$2,064	$2,047	$1,991
Accumulated benefit obligation	$1,290	$1,241	$1,171
Fair value of plan assets	$1,024	$1,018	$875

Components of Net Periodic Pension Cost

Components of net periodic pension cost were as follows:


	Years Ended July 31,
	2012			2011			2010			2009
	(in thousands)
Service cost	$	368		$	365		$	339		$	711
Interest costs		589			617			510			634
Expected return on plan assets		(473	)		(477	)		(462	)		(546	)
Amortization of net actuarial loss		(88	)		(114	)		(144	)		(135	)

Net periodic pension costs	$	396		$	391		$	243		$	664

Summary of Expected Benefit Payments from the Plans through Fiscal 2022


	Pension Benefit Payments
	(in thousands)
For the fiscal years ended July 31:
2013	$	55
2014	$	62
2015	$	90
2016	$	141
2017	$	172
Next 5 years	$	1,309

Defined Contribution Pension [Member]

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted-average assumptions used to determine net periodic pension cost was as follows:


	Years Ended July 31,
	2012			2011			2010			2009
Discount rate		5.50	%		5.50	%		5.50	%		6.25	%
Expected long-term rate of return on plan assets		3.34	%		3.50	%		4.25	%		4.75	%
Rate of compensation increase		2.00	%		2.00	%		2.00	%		2.50	%

Supplemental Employee Retirement Plan Agreements Benefits [Member]

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted-average assumptions used to determine benefit obligations was as follows:


	Years Ended July 31,
	2012			2011			2010
Discount rate		3.95	%		5.50	%		5.50	%
Rate of compensation increase		2.12	%		2.00	%		2.00	%

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2439-114920

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2417-114920

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2410-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=21916443&loc=d3e4179-114921

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 4, 7, 16, 20, 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Components of Accumulated Other Comprehensive Income, Net of Income Taxes

COMPREHENSIVE INCOME (Tables)

12 Months Ended

Jul. 31, 2012

The components of accumulated other comprehensive income, net of income taxes, are as follows:


	Years Ended July 31,
	2012		2011		2010		2009
	(in thousands)
Net unrealized holding gains (losses) on securities	$	(26)	$	(26)	$	47	$	(51)
Cumulative foreign currency translation adjustment		12,702		23,352		12,008		11,919
Pension adjustments		(1,235)		2,310		2,182		2,437

Accumulated other comprehensive income	$	11,441	$	25,636	$	14,237	$	14,305

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)

12 Months Ended

Jul. 31, 2012

Allowance for Doubtful Accounts

The allowance for doubtful accounts consisted of the following:


	Years Ended July 31,
	2012			2011			2010			2009
	(in thousands)
Balance at beginning of year	$	473		$	919		$	3,767		$	2,358
Additions		15			144			141			1,699
Deductions		(144	)		(590	)		(2,989	)		(290	)

Balance at end of year	$	344		$	473		$	919		$	3,767

SELECTED QUARTERLY FINANCIAL INFORMATION (Tables)

12 Months Ended

Jul. 31, 2012

Quarterly Financial Information


	Fiscal 2012 Quarter Ended											Fiscal 2011 Quarter Ended
	Oct. 31 (As Restated)		Jan. 31 (As Restated)			Apr. 30			Jul. 31			Oct. 31 (As Restated)			Jan. 31 (As Restated)			Apr. 30 (As Restated)			Jul. 31 (As Restated)
	(in thousands except share data)
Net revenue	$	205,908	$	178,324		$	178,565		$	177,094		$	235,271		$	233,212		$	206,579		$	198,688
Cost of revenue		180,437		162,518			163,146			169,477			214,031			210,765			186,912			181,103

Gross profit		25,471		15,806			15,419			7,617			21,240			22,447			19,667			17,585
Total operating expenses		23,285		29,536			26,403			30,982			25,019			49,715			21,850			22,021

Operating income (loss)		2,186		(13,730	)		(10,984	)		(23,365	)		(3,779	)		(27,268	)		(2,183	)		(4,436	)
Total other income (expense)		830		564			3,744			5,191			2,921			(776	)		5,083			(2,878	)
Income tax expense (benefit)		1,871		380			(1,202	)		1,985			1,309			1,132			1,331			(2,954	)

Income (loss) from continuing operations		1,145		(13,546	)		(6,038	)		(20,159	)		(2,167	)		(29,176	)		1,569			(4,360	)
Discontinued operations, net of income taxes		—		670			(98	)		(81	)		(45	)		(104	)		(91	)		(91	)

Net income (loss)	$	1,145	$	(12,876	)	$	(6,136	)	$	(20,240	)	$	(2,212	)	$	(29,280	)	$	1,478		$	(4,451	)

Basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$	0.03	$	(0.32	)	$	(0.14	)	$	(0.46	)	$	(0.05	)	$	(0.68	)	$	0.03		$	(0.10	)
Income (loss) from discontinued operations	$	—	$	0.02		$	—		$	—		$	—		$	—		$	—		$	—

Net income (loss)	$	0.03	$	(0.30	)	$	(0.14	)	$	(0. 46	)	$	(0.05	)	$	(0.68	)	$	0.03		$	(0.10	)


	Fiscal 2010 Quarter Ended
	Oct. 31 (As Restated)			Jan. 31 (As Restated)			Apr. 30 (As Restated)			Jul. 31 (As Restated)
	(in thousands except share data)
Net revenue	$	245,273		$	234,034		$	212,379		$	226,760
Cost of revenue		210,670			203,960			189,096			203,692

Gross profit		34,603			30,074			23,283			23,068
Total operating expenses		24,405			25,498			23,888			50,207

Operating income (loss)		10,198			4,576			(605	)		(27,139	)
Total other income (expense)		(1,165	)		(1,216	)		(1,448	)		437
Income tax expense (benefit)		1,881			2,174			942			165

Income (loss) from continuing operations		7,152			1,186			(2,995	)		(26,867	)
Discontinued operations, net of income taxes		45			(29	)		(2,334	)		—

Net income (loss)	$	7,197		$	1,157			(5,329	)		(26,867	)

Basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$	0.16		$	0.03		$	(0.07	)	$	(0.62	)
Income (loss) from discontinued operations	$	—		$	—		$	(0.05	)	$	—

Net income (loss)	$	0.16		$	0.03		$	(0.12	)	$	(0.62	)

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

January 31, 2012

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	95,618		$	—		$	—		$	95,618
Available-for-sale securities		132			—			—			132
Accounts receivable, trade, net of allowance for doubtful accounts of $353		156,195			—			—			156,195
Inventories, net		94,675			—			—			94,675
Prepaid expenses and other current assets		10,325			—			—			10,325

Total current assets		356,945			—			—			356,945

Property and equipment, net		43,371			—			122			43,493
Investments in affiliates		12,352			—			—			12,352
Goodwill		3,058			—			—			3,058
Other intangible assets, net		4,029			—			—			4,029
Other assets		10,318			—			—			10,318

Total assets	$	430,073		$	—		$	122		$	430,195


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	29		$	—		$	60		$	89
Accounts payable		135,970			—			—			135,970
Current portion of accrued restructuring		4,978			—			—			4,978
Accrued expenses		37,776			—			—			37,776
Other current liabilities		6,934			31,619			936			39,489
Current liabilities of discontinued operations		1,452						—			1,452

Total current liabilities		187,139			31,619			996			219,754

Long-term portion of accrued restructuring		109			—			—			109
Obligations under capital leases, less current installments		32			—			72			104
Other long-term liabilities		15,755			—			(3,725	)		12,030
Non-current liabilities of discontinued operations		983			—			—			983

Total liabilities		204,018			31,619			(2,657	)		232,980

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,264,450 issued and outstanding shares		443			—			—			443
Additional paid-in capital		7,388,896			—			—			7,388,896
Accumulated deficit		(7,181,474	)		(31,619	)		2,694			(7,210,399	)
Accumulated other comprehensive income		18,190			—			85			18,275

Total stockholders’ equity		226,055			(31,619	)		2,779			197,215

Total liabilities and stockholders’ equity	$	430,073		$	—		$	122		$	430,195

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

October 31, 2011

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	111,526		$	—		$	—		$	111,526
Available-for-sale securities		133			—			—			133
Accounts receivable, trade, net of allowance for doubtful accounts of $332		187,952			—			—			187,952
Inventories, net		94,909			—			—			94,909
Prepaid expenses and other current assets		10,120			—			—			10,120

Total current assets		404,640			—			—			404,640

Property and equipment, net		44,716			—			91			44,807
Investments in affiliates		12,642			—			—			12,642
Goodwill		3,058			—			—			3,058
Other intangible assets, net		4,360			—			—			4,360
Other assets		9,510			—			—			9,510

Total assets	$	478,926		$	—		$	91		$	479,017


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	37		$	—		$	51		$	88
Accounts payable		164,196			—			—			164,196
Current portion of accrued restructuring		1,909			—			—			1,909
Accrued income taxes		1,260			—			—			1,260
Accrued expenses		42,407			—			—			42,407
Other current liabilities		7,692			31,123			950			39,765
Current liabilities of discontinued operations		1,817			—			—			1,817

Total current liabilities		219,318			31,123			1,001			251,442

Long-term portion of accrued restructuring		36			—			—			36
Obligations under capital leases, less current installments		39			—			51			90
Other long-term liabilities		15,791			—			(3,465	)		12,326
Non-current liabilities of discontinued operations		1,623			—			—			1,623

Total liabilities		236,807			31,123			(2,413	)		265,517

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,076,160 issued and outstanding shares		441			—			—			441
Additional paid-in capital		7,387,871			—			—			7,387,871
Accumulated deficit		(7,168,862	)		(31,123	)		2,462			(7,197,523	)
Accumulated other comprehensive income		22,669			—			42			22,711

Total stockholders’ equity		242,119			(31,123	)		2,504			213,500

Total liabilities and stockholders’ equity	$	478,926		$	—		$	91		$	479,017

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

April 30, 2011

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	119,120		$	—		$	—		$	119,120
Available-for-sale securities		130			—			—			130
Accounts receivable, trade, net of allowance for doubtful accounts of $777		135,622			—			—			135,622
Inventories, net		83,263			—			—			83,263
Prepaid expenses and other current assets		13,803			—			—			13,803

Total current assets		351,938			—			—			351,938

Property and equipment, net		49,935			—			117			50,052
Investments in affiliates		14,073			—			(797	)		13,276
Goodwill		3,058			—			—			3,058
Other intangible assets, net		5,736			—			—			5,736
Other assets		10,402			—			—			10,402

Total assets	$	435,142		$	—		$	(680	)	$	434,462


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital lease	$	38		$	—		$	51		$	89
Accounts payable		111,000			—			—			111,000
Current portion of accrued restructuring		1,618			—			—			1,618
Accrued expenses		40,314			—			258			40,572
Other current liabilities		7,995			30,307			926			39,228
Current liabilities of discontinued operations		1,686			—			—			1,686

Total current liabilities		162,651			30,307			1,235			194,193

Long-term portion of accrued restructuring		299			—			—			299
Obligations under capital leases, less current installments		3			—			77			80
Other long-term liabilities		16,122			—			772			16,894
Non-current liabilities of discontinued operations		2,241			—			—			2,241

Total liabilities		181,316			30,307			2,084			213,707

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,824,651 issued and outstanding shares		438			—			—			438
Additional paid-in capital		7,386,248			—			—			7,386,248
Accumulated deficit		(7,161,145	)		(30,307	)		(2,764	)		(7,194,216	)
Accumulated other comprehensive income		28,285			—			—			28,285

Total stockholders’ equity		253,826			(30,307	)		(2,764	)		220,755

Total liabilities and stockholders’ equity	$	435,142		$	—		$	(680	)	$	434,462

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

January 31, 2011

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	154,217		$	—		$	—		$	154,217
Available-for-sale securities		222			—			—			222
Accounts receivable, trade, net of allowance for doubtful accounts of $1,027		140,892			—			—			140,892
Inventories, net		79,667			—			—			79,667
Prepaid expenses and other current assets		12,084			—			—			12,084

Total current assets		387,082			—			—			387,082

Property and equipment, net		49,942			—			130			50,072
Investments in affiliates		12,997			—			(797	)		12,200
Goodwill		3,058			—			—			3,058
Other intangible assets, net		6,798			—			—			6,798
Other assets		10,307			—			—			10,307

Total assets	$	470,184			—		$	(667	)	$	469,517


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	38		$	—		$	51		$	89
Accounts payable		111,205			—			—			111,205
Current portion of accrued restructuring		2,123			—			—			2,123
Accrued expenses		38,755			—			250			39,005
Other current liabilities		6,949			37,053			639			44,641
Current liabilities of discontinued operations		1,686			—			—			1,686

Total current liabilities		160,756			37,053			940			198,749

Long-term portion of accrued restructuring		484			—			—			484
Obligations under capital leases, less current installments		10			—			90			100
Other long-term liabilities		15,791			—			924			16,715
Non-current liabilities of discontinued operations		2,587			—			—			2,587

Total liabilities		179,628			37,053			1,954			218,635

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,814,824 issued and outstanding shares		438			—			—			438
Additional paid-in capital		7,425,434			—			—			7,425,434
Accumulated deficit		(7,156,019	)		(37,053	)		(2,621	)		(7,195,693	)
Accumulated other comprehensive income		20,703			—			—			20,703

Total stockholders’ equity		290,556			(37,053	)		(2,621	)		250,882

Total liabilities and stockholders’ equity	$	470,184		$	—		$	(667	)	$	469,517

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

October 31, 2010

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	145,924		$	—		$	—		$	145,924
Available-for-sale securities		233			—			—			233
Accounts receivable, trade, net of allowance for doubtful accounts of $994		186,479			—			—			186,479
Inventories, net		80,007			—			—			80,007
Prepaid expenses and other current assets		13,488			—			—			13,488

Total current assets		426,131			—			—			426,131

Property and equipment, net		52,210			—			143			52,353
Investments in affiliates		13,103			—			(797	)		12,306
Goodwill		16,207			—			—			16,207
Other intangible assets, net		22,495			—			—			22,495
Other assets		10,022			—			—			10,022

Total assets	$	540,168		$	—		$	(654	)	$	539,514


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	26		$	—		$	51		$	77
Accounts payable		144,930			—			—			144,930
Current portion of accrued restructuring		3,026			—			—			3,026
Accrued income taxes		242			—			—			242
Accrued expenses		45,971			—			242			46,213
Other current liabilities		6,048			36,545			637			43,230
Current liabilities of discontinued operations		1,792			—			—			1,792

Total current liabilities		202,035			36,545			930			239,510

Long-term portion of accrued restructuring		665			—			—			665
Obligations under capital leases, less current installments		23			—			103			126
Other long-term liabilities		16,485			—			496			16,981
Non-current liabilities of discontinued operations		2,929			—			—			2,929

Total liabilities		222,137			36,545			1,529			260,211

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,723,322 issued and outstanding shares		437			—			—			437
Additional paid-in capital		7,424,402			—			—			7,424,402
Accumulated deficit		(7,127,685	)		(36,545	)		(2,183	)		(7,166,413	)
Accumulated other comprehensive income		20,877			—			—			20,877

Total stockholders’ equity		318,031			(36,545	)		(2,183	)		279,303

Total liabilities and stockholders’ equity	$	540,168		$	—		$	(654	)	$	539,514

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

April 30, 2010

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	159,897		$	—		$	—		$	159,897
Available-for-sale securities		335			—			—			335
Accounts receivable, trade, net of allowance for doubtful accounts of $879		146,203			—			—			146,203
Inventories, net		66,270			—			—			66,270
Prepaid expenses and other current assets		12,020			—			—			12,020

Total current assets		384,725			—			—			384,725

Property and equipment, net		54,857			—			168			55,025
Investments in affiliates		13,022			—			—			13,022
Goodwill		42,007			—			—			42,007
Other intangible assets, net		25,852			—			—			25,852
Other assets		10,140			—			—			10,140

Total assets	$	530,603		$	—		$	168		$	530,771


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	46		$	—		$	51		$	97
Accounts payable		108,730			—			—			108,730
Current portion of accrued restructuring		5,611			—			—			5,611
Accrued income taxes		1,260			—			—			1,260
Accrued expenses		41,103			—			226			41,329
Other current liabilities		4,696			41,307			262			46,265
Current liabilities of discontinued operations		1,992			—			—			1,992

Total current liabilities		163,438			41,307			539			205,284

Long-term portion of accrued restructuring		1,276			—			—			1,276
Obligations under capital leases, less current installments		43			—			127			170
Other long-term liabilities		15,686			—			—			15,686
Non-current liabilities of discontinued operations		3,575			—			—			3,575

Total liabilities		184,018			41,307			666			225,991

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,056,151 issued and outstanding shares		441			—			—			441
Additional paid-in capital		7,426,120			—			—			7,426,120
Accumulated deficit		(7,095,530	)		(41,307	)		(498	)		(7,137,335	)
Accumulated other comprehensive income		15,554			—			—			15,554

Total stockholders’ equity		346,585			(41,307	)		(498	)		304,780

Total liabilities and stockholders’ equity	$	530,603		$	—		$	168		$	530,771

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

January 31, 2010

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	163,970		$	—		$	—		$	163,970
Available-for-sale securities		284			—			—			284
Accounts receivable, trade, net of allowance for doubtful accounts of $1,257		150,311			—			—			150,311
Inventories, net		67,107			—			—			67,107
Prepaid expenses and other current assets		13,060			—			—			13,060

Total current assets		394,732			—			—			394,732

Property and equipment, net		56,348			—			181			56,529
Investments in affiliates		13,180			—			—			13,180
Goodwill		42,007			—			—			42,007
Other intangible assets, net		27,509			—			—			27,509
Other assets		9,741			—			—			9,741

Total assets	$	543,517		$	—		$	181		$	543,698


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	54		$	—		$	51		$	105
Accounts payable		112,756			—			—			112,756
Current portion of accrued restructuring		7,021			—			(576	)		6,445
Accrued income taxes		1,377			—			—			1,377
Accrued expenses		43,259			—			218			43,477
Other current liabilities		5,817			40,251			—			46,068
Current liabilities of discontinued operations		1,602			—			—			1,602

Total current liabilities		171,886			40,251			(307	)		211,830

Long-term portion of accrued restructuring		1,686			—			—			1,686
Obligations under capital leases, less current installments		64			—			139			203
Other long-term liabilities		16,437			—			—			16,437
Non-current liabilities of discontinued operations		2,057			—			—			2,057

Total liabilities		192,130			40,251			(168	)		232,213

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,293,804 issued and outstanding shares		443			—			—			443
Additional paid-in capital		7,427,477			—			—			7,427,477
Accumulated deficit		(7,092,103	)		(40,251	)		349			(7,132,005	)
Accumulated other comprehensive income		15,570			—			—			15,570

Total stockholders’ equity		351,387			(40,251	)		349			311,485

Total liabilities and stockholders’ equity	$	543,517		$	—		$	181		$	543,698

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

October 31, 2009

(in thousands, except share data)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	174,402		$	—		$	—		$	174,402
Available-for-sale securities		284			—			—			284
Accounts receivable, trade, net of allowance for doubtful accounts of $1,154		194,142			—			—			194,142
Inventories, net		71,037			—			—			71,037
Prepaid expenses and other current assets		10,135			—			—			10,135

Total current assets		450,000			—			—			450,000

Property and equipment, net		58,940			—			194			59,134
Investments in affiliates		12,514			—			—			12,514
Goodwill		25,708			—			—			25,708
Other intangible assets, net		21,748			—			—			21,748
Other assets		8,111			—			—			8,111

Total assets	$	577,021		$	—		$	194		$	577,215


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of obligations under capital leases	$	64		$	—		$	51		$	115
Accounts payable		135,990			—			—			135,990
Current portion of accrued restructuring		9,364			—			(522	)		8,842
Accrued income taxes		1,155			—			—			1,155
Accrued expenses		47,920			—			210			48,130
Other current liabilities		4,969			38,797			—			43,766
Current liabilities of discontinued operations		1,666			—			—			1,666

Total current liabilities		201,128			38,797			(261	)		239,664

Long-term portion of accrued restructuring		1,804			—			—			1,804
Obligations under capital leases, less current installments		69			—			151			220
Other long-term liabilities		16,899			—			—			16,899
Non-current liabilities of discontinued operations		2,235			—			—			2,235

Total liabilities		222,135			38,797			(110	)		260,822

Stockholders’ equity:
Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding		—			—			—			—
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 44,931,506 issued and outstanding shares		449			—			—			449
Additional paid-in capital		7,432,500			—			—			7,432,500
Accumulated deficit		(7,094,670	)		(38,797	)		304			(7,133,163	)
Accumulated other comprehensive income		16,607			—			—			16,607

Total stockholders’ equity		354,886			(38,797	)		304			316,393

Total liabilities and stockholders’ equity	$	577,021		$	—		$	194		$	577,215

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended January 31, 2012

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	178,588			(496	)		232		$	178,324
Cost of revenue		162,521			—			(3	)		162,518

Gross profit		16,067			(496	)		235			15,806

Operating expenses:
Selling, general and administrative		24,607			—			—			24,607
Amortization of intangible assets		332			—			—			332
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		4,597			—			—			4,597

Total operating expenses		29,536			—			—			29,536

Operating income (loss)		(13,469	)		(496	)		235			(13,730	)

Other income (expense):
Interest income		122			—			—			122
Interest expense		(96	)		—			(2	)		(98	)
Other gains (losses)		830			—			—			830
Equity in losses of affiliates and impairments		(290	)		—			—			(290	)

		566			—			(2	)		564

Income (loss) from continuing operations before income taxes		(12,903	)		(496	)		233			(13,166	)
Income tax expense (benefit)		380			—			—			380

Income (loss) from continuing operations		(13,283	)		(496	)		233			(13,546	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		670			—			—			670

Net income (loss)	$	(12,613	)	$	(496	)	$	233		$	(12,876	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.31	)	$	(0.01	)	$	—		$	(0.32	)
Loss from discontinued operations		0.02			—			—			0.02

Net loss	$	(0.29	)	$	(0.01	)	$	—		$	(0.30	)

Shares used in computing basic loss per share		43,434			—			—			43,434

Shares used in computing diluted loss per share		43,434			—			—			43,434

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended October 31, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	206,151			(417	)		174		$	205,908
Cost of revenue		180,658			—			(221	)		180,437

Gross profit		25,493			(417	)		395			25,471

Operating expenses:
Selling, general and administrative		22,198			—			—			22,198
Amortization of intangible assets		332			—			—			332
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		755			—			—			755

Total operating expenses		23,285			—			—			23,285

Operating income (loss)		2,208			(417	)		395			2,186

Other income (expense):
Interest income		122			—			—			122
Interest expense		(88	)		—			(2	)		(90	)
Other gains (losses)		1,225			—			—			1,225
Equity in losses of affiliates and impairments		(427	)		—			—			(427	)

		832			—			(2	)		830

Income (loss) from continuing operations before income taxes		3,040			(417	)		393			3,016
Income tax expense (benefit)		1,871			—			—			1,871

Income (loss) from continuing operations		1,169			(417	)		393			1,145
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		—			—			—			—

Net income (loss)	$	1,169		$	(417	)	$	393		$	1,145

Basic and diluted loss per share
Loss from continuing operations	$	0.03		$	(0.01	)	$	0.01		$	0.03
Loss from discontinued operations		—			—			—			—

Net loss	$	0.03		$	(0.01	)	$	0.01		$	0.03

Shares used in computing basic loss per share		43,315			—			—			43,315

Shares used in computing diluted loss per share		43,318			—			—			43,318

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended July 31, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	198,798			(399	)		289			198,688
Cost of revenue		181,144			—			(41	)		181,103

Gross profit		17,654			(399	)		330			17,585

Operating expenses:
Selling, general and administrative		21,390			—			—			21,390
Amortization of intangible assets		1,037			—			—			1,037
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		(406	)		—			—			(406	)

Total operating expenses		22,021			—			—			22,021

Operating income (loss)		(4,367	)		(399	)		330			(4,436	)

Other income (expense):
Interest income		47			—			—			47
Interest expense		(103	)		—			(2	)		(105	)
Other gains (losses)		(726	)		—			—			(726	)
Equity in losses of affiliates and impairments		(2,891	)		—			797			(2,094	)

		(3,673	)		—			795			(2,878	)

Income (loss) from continuing operations before income taxes		(8,040	)		(399	)		1,125			(7,314	)
Income tax expense (benefit)		754			—			(3,708	)		(2,954	)

Income (loss) from continuing operations		(8,794	)		(399	)		4,833			(4,360	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(91	)		—			—			(91	)

Net income (loss)	$	(8,885	)	$	(399	)	$	4,833		$	(4,451	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.21	)	$	(0.01	)	$	0.12		$	(0.10	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.21	)	$	(0.01	)	$	0.12		$	(0.10	)

Shares used in computing basic loss per share		43,317			—			—			43,317

Shares used in computing diluted loss per share		43,317			—			—			43,317

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended April 30, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	207,140		$	(426	)	$	(135	)	$	206,579
Cost of revenue		186,906			—			6			186,912

Gross profit		20,234			(426	)		(141	)		19,667

Operating expenses:
Selling, general and administrative		20,788			—			—			20,788
Amortization of intangible assets		1,062			—			—			1,062
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		—			—			—			—

Total operating expenses		21,850			—			—			21,850

Operating income (loss)		(1,616	)		(426	)		(141	)		(2,183	)

Other income (expense):
Interest income		62			—			—			62
Interest expense		(108	)		—			(2	)		(110	)
Other gains (losses)		(1,641	)		7,173			—			5,532
Equity in losses of affiliates and impairments		(401	)		—			—			(401	)

		(2,088	)		7,173			(2	)		5,083

Income (loss) from continuing operations before income taxes		(3,704	)		6,747			(143	)		2,900
Income tax expense (benefit)		1,331			—			—			1,331

Income (loss) from continuing operations		(5,035	)		6,747			(143	)		1,569
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(91	)		—			—			(91	)

Net income (loss)	$	(5,126	)	$	6,747		$	(143	)	$	1,478

Basic and diluted loss per share
Loss from continuing operations	$	(0.12	)	$	0.15		$	—		$	0.03
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.12	)	$	0.15		$	—		$	0.03

Shares used in computing basic loss per share		43,303			—			—			43,303

Shares used in computing diluted loss per share		43,303			—			—			43,502

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended January 31, 2011

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	234,150		$	(508	)	$	(430	)	$	233,212
Cost of revenue		210,759			—			6			210,765

Gross profit		23,391			(508	)		(436	)		22,447

Operating expenses:
Selling, general and administrative		20,458			—			—			20,458
Amortization of intangible assets		1,679			—			—			1,679
Impairment of goodwill and long-lived assets		27,166			—			—			27,166
Restructuring, net		412			—			—			412

Total operating expenses		49,715			—			—			49,715

Operating income (loss)		(26,324	)		(508	)		(436	)		(27,268	)

Other income (expense):
Interest income		88			—			—			88
Interest expense		(120	)		—			(2	)		(122	)
Other gains (losses)		(372	)		—			—			(372	)
Equity in losses of affiliates and impairments		(370	)		—			—			(370	)

		(774	)		—			(2	)		(776	)

Income (loss) from continuing operations before income taxes		(27,098	)		(508	)		(438	)		(28,044	)
Income tax expense (benefit)		1,132			—			—			1,132

Income (loss) from continuing operations		(28,230	)		(508	)		(438	)		(29,176	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(104	)		—			—			(104	)

Net income (loss)	$	(28,334	)	$	(508	)	$	(438	)	$	(29,280	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.65	)	$	(0.02	)	$	(0.01	)	$	(0.68	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.65	)	$	(0.02	)	$	(0.01	)	$	(0.68	)

Shares used in computing basic loss per share		43,279			—			—			43,279

Shares used in computing diluted loss per share		43,279			—			—			43,279

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended October 31, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	236,379		$	(635	)	$	(473	)	$	235,271
Cost of revenue		214,025			—			6			214,031

Gross profit		22,354			(635	)		(479	)		21,240

Operating expenses:
Selling, general and administrative		22,551			—			—			22,551
Amortization of intangible assets		1,679			—			—			1,679
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		789			—			—			789

Total operating expenses		25,019			—			—			25,019

Operating income (loss)		(2,665	)		(635	)		(479	)		(3,779	)

Other income (expense):
Interest income		42			—			—			42
Interest expense		(122	)		—			(3	)		(125	)
Other gains (losses)		(1,925	)		6,372			—			4,447
Equity in losses of affiliates and impairments		(646	)		—			(797	)		(1,443	)

		(2,651	)		6,372			(800	)		2,921

Income (loss) from continuing operations before income taxes		(5,316	)		5,737			(1,279	)		(858	)
Income tax expense (benefit)		1,309			—			—			1,309

Income (loss) from continuing operations		(6,625	)		5,737			(1,279	)		(2,167	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(45	)		—			—			(45	)

Net income (loss)	$	(6,670	)	$	5,737		$	(1,279	)	$	(2,212	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.15	)	$	0.13		$	(0.03	)	$	(0.05	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.15	)	$	0.13		$	(0.03	)	$	(0.05	)

Shares used in computing basic loss per share		43,309			—			—			43,309

Shares used in computing diluted loss per share		43,309			—			—			43,309

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended July 31, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	228,133		$	(975	)	$	(398	)	$	226,760
Cost of revenue		203,686			—			6			203,692

Gross profit		24,447			(975	)		(404	)		23,068

Operating expenses:
Selling, general and administrative		24,585			—			—			24,585
Amortization of intangible assets		1,680			—			—			1,680
Impairment of goodwill and long-lived assets		25,800			—			—			25,800
Restructuring, net		(1,858	)		—			—			(1,858	)

Total operating expenses		50,207			—			—			50,207

Operating income (loss)		(25,760	)		(975	)		(404	)		(27,139	)

Other income (expense):
Interest income		46			—			—			46
Interest expense		(145	)		—			(3	)		(148	)
Other gains (losses)		744			—			—			744
Equity in losses of affiliates and impairments		(205	)		—			—			(205	)

		440			—			(3	)		437

Income (loss) from continuing operations before income taxes		(25,320	)		(975	)		(407	)		(26,702	)
Income tax expense (benefit)		165			—			—			165

Income (loss) from continuing operations		(25,485	)		(975	)		(407	)		(26,867	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		—			—			—			—

Net income (loss)	$	(25,485	)	$	(975	)	$	(407	)	$	(26,867	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.58	)	$	(0.03	)	$	(0.01	)	$	(0.62	)
Loss from discontinued operations		—			—			—			—

Net loss	$	(0.58	)	$	(0.03	)	$	(0.01	)	$	(0.62	)

Shares used in computing basic loss per share		43,652			—			—			43,652

Shares used in computing diluted loss per share		43,652			—			—			43,652

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended April 30, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	213,697		$	(1,056	)	$	(262	)	$	212,379
Cost of revenue		189,090			—			6			189,096

Gross profit		24,607			(1,056	)		(268	)		23,283

Operating expenses:
Selling, general and administrative		21,395			—			—			21,395
Amortization of intangible assets		1,657			—			—			1,657
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		260			—			576			836

Total operating expenses		23,312			—			576			23,888

Operating income (loss)		1,295			(1,056	)		(844	)		(605	)

Other income (expense):
Interest income		49			—			—			49
Interest expense		(130	)		—			(3	)		(133	)
Other gains (losses)		(1,153	)		—			—			(1,153	)
Equity in losses of affiliates and impairments		(211	)		—			—			(211	)

		(1,445	)		—			(3	)		(1,448	)

Income (loss) from continuing operations before income taxes		(150	)		(1,056	)		(847	)		(2,053	)
Income tax expense (benefit)		942			—			—			942

Income (loss) from continuing operations		(1,092	)		(1,056	)		(847	)		(2,995	)
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(2,334	)		—			—			(2,334	)

Net income (loss)	$	(3,426	)	$	(1,056	)	$	(847	)	$	(5,329	)

Basic and diluted loss per share
Loss from continuing operations	$	(0.03	)	$	(0.02	)	$	(0.02	)	$	(0.07	)
Loss from discontinued operations		(0.05	)		—			—			(0.05	)

Net loss	$	(0.08	)	$	(0.02	)	$	(0.02	)	$	(0.12	)

Shares used in computing basic loss per share		43,730			—			—			43,730

Shares used in computing diluted loss per share		43,730			—			—			43,730

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended January 31, 2010

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	235,488		$	(1,454	)	$	—		$	234,034
Cost of revenue		203,954			—			6			203,960

Gross profit		31,534			(1,454	)		(6	)		30,074

Operating expenses:
Selling, general and administrative		23,917			—			—			23,917
Amortization of intangible assets		1,599			—			—			1,599
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		36			—			(54	)		(18	)

Total operating expenses		25,552			—			(54	)		25,498

Operating income (loss)		5,982			(1,454	)		48			4,576

Other income (expense):
Interest income		82			—			—			82
Interest expense		(158	)		—			(3	)		(161	)
Other gains (losses)		(289	)		—			—			(289	)
Equity in losses of affiliates and impairments		(848	)		—			—			(848	)

		(1,213	)		—			(3	)		(1,216	)

Income (loss) from continuing operations before income taxes		4,769			(1,454	)		45			3,360
Income tax expense (benefit)		2,174			—			—			2,174

Income (loss) from continuing operations		2,595			(1,454	)		45			1,186
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		(29	)		—			—			(29	)

Net income (loss)	$	2,566		$	(1,454	)	$	45		$	1,157

Basic and diluted loss per share
Loss from continuing operations	$	0.06		$	(0.03	)	$	—		$	0.03
Loss from discontinued operations		—			—			—			—

Net loss	$	0.06		$	(0.03	)	$	—		$	0.03

Shares used in computing basic loss per share		44,208			—			—			44,208

Shares used in computing diluted loss per share		44,301			—			—			44,301

MODUSLINK GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended October 31, 2009

(in thousands, except per share amounts)

(unaudited)


	As Previously Reported			Restatement Pricing Adjustments			Restatement Other Adjustments			As Restated
Net revenue	$	246,678		$	(1,405	)	$	—		$	245,273
Cost of revenue		210,664			—			6			210,670

Gross profit		36,014			(1,405	)		(6	)		34,603

Operating expenses:
Selling, general and administrative		22,958			—			—			22,958
Amortization of intangible assets		1,372			—			—			1,372
Impairment of goodwill and long-lived assets		—			—			—			—
Restructuring, net		129			—			(54	)		75

Total operating expenses		24,459			—			(54	)		24,405

Operating income (loss)		11,555			(1,405	)		48			10,198

Other income (expense):
Interest income		121			—			—			121
Interest expense		(127	)		—			(4	)		(131	)
Other gains (losses)		(291	)		—			—			(291	)
Equity in losses of affiliates and impairments		(864	)		—			—			(864	)

		(1,161	)		—			(4	)		(1,165	)

Income (loss) from continuing operations before income taxes		10,394			(1,405	)		44			9,033
Income tax expense (benefit)		1,881			—			—			1,881

Income (loss) from continuing operations		8,513			(1,405	)		44			7,152
Discontinued operations, net of income taxes:
Income (loss) from discontinued operations,		45			—			—			45

Net income (loss)	$	8,558		$	(1,405	)	$	44		$	7,197

Basic and diluted loss per share
Loss from continuing operations	$	0.19		$	(0.03	)	$	—		$	0.16
Loss from discontinued operations		—			—			—			—

Net loss	$	0.19		$	(0.03	)	$	—		$	0.16

Shares used in computing basic loss per share		44,806			—			—			44,806

Shares used in computing diluted loss per share		44,921			—			—			44,921

The restated quarterly segment information for the first two quarters of fiscal year 2012 and each of the quarterly periods in fiscal years 2011 and 2010 are presented below:


	Three Months Ended October 31, 2011 (As Restated) (unaudited)			Three Months Ended January 31, 2012 (As Restated) (unaudited)
	(in thousands)
Net revenue:
Americas	$	69,511		$	59,498
Asia		60,739			51,125
Europe		57,605			50,710
TFL		8,079			8,888
All other		9,974			8,103

	$	205,908		$	178,324

Operating income (loss):
Americas	$	(120	)	$	(3,084	)
Asia		9,292			4,513
Europe		(1,688	)		(7,177	)
TFL		(1,395	)		(1,211	)
All other		856			(79	)

Total segment operating income (loss)		6,945			(7,038	)
Other reconciling items		(4,759	)		(6,692	)

Total operating income (loss)	$	2,186		$	(13,730	)

Adjusted operating income (loss):
Americas	$	1,326		$	(1,272	)
Asia		10,965			5,795
Europe		(296	)		(2,225	)
TFL		(1,315	)		(988	)
All other		1,343			409

Total segment adjusted operating income		12,023			1,719
Other reconciling items		(4,120	)		(5,970	)

Total adjusted operating income	$	7,903		$	(4,251	)

Adjusted operating income	$	7,903		$	(4,251	)
Adjustments:
Depreciation		(3,748	)		(3,552	)
Amortization of intangible assets		(332	)		(332	)
Share-based payments		(882	)		(998	)
Restructuring, net		(755	)		(4,597	)

Operating income (loss)	$	2,186		$	(13,730	)
Other income (expense), net		830			564
Income tax expense		(1,871	)		(380	)
Income (loss) from discontinued operations		—			670

Net income (loss)	$	1,145		$	(12,876	)

Total assets of continuing operations:
Americas	$	122,561		$	122,186
Asia		171,023			144,986
Europe		124,537			113,475
TFL		12,851			9,504
All other		28,799			20,949

Sub-total		459,771			411,100
Corporate-level activity		19,246			19,095

	$	479,017		$	430,195


	Three Months Ended October 31, 2010 (As Restated) (unaudited)			Three Months Ended January 31, 2011 (As Restated) (unaudited)			Three Months Ended April 30, 2011 (As Restated) (unaudited)			Three Months Ended July 31, 2011 (As Restated) (unaudited)
	(in thousands)
Net revenue:
Americas	$	80,680		$	76,104		$	70,652		$	68,926
Asia		57,219			62,570			56,934			57,003
Europe		77,012			77,552			63,444			57,056
TFL		9,746			7,782			6,415			5,528
All other		10,614			9,204			9,134			10,175

	$	235,271		$	233,212		$	206,579		$	198,688

Operating income (loss):
Americas	$	(3,693	)	$	(18,165	)	$	(3,318	)	$	(4,808	)
Asia		4,548			8,000			6,741			9,879
Europe		(90	)		(60	)		(2,425	)		(3,606	)
TFL		(1,004	)		(13,567	)		(275	)		(1,292	)
All other		924			210			483			272

Total segment operating income (loss)		685			(23,582	)		1,206			445
Other reconciling items		(4,464	)		(3,686	)		(3,389	)		(4,881	)

Total operating loss	$	(3,779	)	$	(27,268	)	$	(2,183	)	$	(4,436	)

Adjusted operating income (loss):
Americas	$	(1,189	)	$	(54	)	$	(1,673	)	$	(3,113	)
Asia		6,561			9,889			8,363			11,342
Europe		1,388			1,632			(825	)		(1,997	)
TFL		(666	)		(1,951	)		(197	)		(1,212	)
All other		1,374			712			956			769

Total segment adjusted operating income		7,468			10,228			6,624			5,789
Other reconciling items		(3,866	)		(3,036	)		(2,883	)		(4,259	)

Total adjusted operating income	$	3,602		$	7,192		$	3,741		$	1,530

Adjusted operating income	$	3,602		$	7,192		$	3,741		$	1,530
Adjustments:
Depreciation		(4,010	)		(4,209	)		(4,140	)		(4,474	)
Amortization of intangible assets		(1,679	)		(1,679	)		(1,062	)		(1,037	)
Impairment of goodwill		—			(27,166	)		—			—
Share-based payments		(903	)		(994	)		(722	)		(861	)
Restructuring, net		(789	)		(412	)		—			406

Operating loss	$	(3,779	)	$	(27,268	)	$	(2,183	)	$	(4,436	)
Other income (expense), net		2,921			(776	)		5,083			(2,878	)
Income tax (expense) benefit		(1,309	)		(1,132	)		(1,331	)		2,954
Income (loss) from discontinued operations		(45	)		(104	)		(91	)		(91	)

Net income (loss)	$	(2,212	)	$	(29,280	)	$	1,478		$	(4,451	)

Total assets of continuing operations:
Americas	$	162,680		$	155,889		$	144,782		$	121,481
Asia		125,001			106,679			101,399			125,059
Europe		152,485			134,957			133,185			120,422
TFL		22,942			7,747			7,806			11,029
All other		37,936			26,010			24,807			24,809

Sub-total		501,044			431,282			411,979			402,800
Corporate-level activity		38,470			38,235			22,483			19,447

	$	539,514		$	469,517		$	434,462		$	422,247


	Three Months Ended October 31, 2009 (As Restated) (unaudited)			Three Months Ended January 31, 2010 (As Restated) (unaudited)			Three Months Ended April 30, 2010 (As Restated) (unaudited)			Three Months Ended July 31, 2010 (As Restated) (unaudited)
	(in thousands)
Net revenue:
Americas	$	79,452		$	75,745		$	72,840		$	79,516
Asia		73,680			68,077			59,763			61,073
Europe		79,677			75,637			61,831			66,440
TFL		—			4,768			8,937			10,007
All other		12,464			9,807			9,008			9,724

	$	245,273		$	234,034		$	212,379		$	226,760

Operating income (loss):
Americas	$	(1,509	)	$	(3,523	)	$	(4,934	)	$	(16,287	)
Asia		14,820			13,865			10,980			7,698
Europe		(274	)		(1,649	)		(1,931	)		(1,011	)
TFL		—			(427	)		(307	)		(11,510	)
All other		865			146			(896	)		(3,048	)

Total segment operating income (loss)		13,902			8,412			2,912			(24,158	)
Other reconciling items		(3,704	)		(3,836	)		(3,517	)		(2,981	)

Total operating loss	$	10,198		$	4,576		$	(605	)	$	(27,139	)

Adjusted operating income (loss):
Americas	$	768		$	(921	)	$	(2,201	)	$	(1,289	)
Asia		16,604			15,630			12,776			9,251
Europe		1,330			(286	)		(202	)		(1,161	)
TFL		—			(200	)		(23	)		(1,003	)
All other		1,361			641			(422	)		188

Total segment adjusted operating income		20,063			14,864			9,928			5,986
Other reconciling items		(3,109	)		(3,143	)		(2,910	)		(2,432	)

Total adjusted operating income	$	16,954		$	11,721		$	7,018		$	3,554

Adjusted operating income	$	16,954		$	11,721		$	7,018		$	3,554
Adjustments:
Depreciation		(4,237	)		(4,239	)		(4,230	)		(4,214	)
Amortization of intangible assets		(1,372	)		(1,599	)		(1,657	)		(1,680	)
Impairment of goodwill		—			—			—			(25,800	)
Share-based payments		(1,072	)		(1,325	)		(900	)		(857	)
Restructuring, net		(75	)		18			(836	)		1,858

Operating income (loss)	$	10,198		$	4,576		$	(605	)	$	(27,139	)
Other income (expense), net		(1,165	)		(1,216	)		(1,448	)		437
Income tax expense		(1,881	)		(2,174	)		(942	)		(165	)
Income (loss) from discontinued operations		45			(29	)		(2,334	)		—

Net gain (loss)	$	7,197		$	1,157		$	(5,329	)	$	(26,867	)

Total assets of continuing operations:
Americas	$	179,427		$	174,084		$	180,193		$	186,643
Asia		179,340			140,187			121,990			113,820
Europe		138,456			128,120			128,143			135,135
TFL		—			31,942			32,874			23,256
All other		40,396			28,757			28,205			27,740

Sub-total		537,619			503,090			491,405			486,594
Corporate-level activity		39,596			40,608			39,366			39,347

	$	577,215		$	543,698		$	530,771		$	525,941

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Jul. 31, 2012 USD ($) d	Jul. 31, 2011 USD ($)	Jul. 31, 2010 USD ($)	Jul. 31, 2009 USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Maturities of highly liquid investments \| d	90
Maximum maturities of short-term investments	Twelve months
Minimum maturity of short-term investments	90 days
Impairment charges related to investments	$ 2.9	$ 2.5	$ 0.3	$ 16.8
Reduction in raw materials inventory	0.2
Common stock equivalent shares excluded from the denominator in the calculation of diluted earnings per share	2.9	$ 3.2	$ 2.1	$ 2.4
Loss due to change in fair value on foreign currency exchange contract	$ 0.1
Hewlett Packard [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of net revenue recorded	31.00%	28.00%	30.00%	27.00%
Advanced Micro Devices [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of net revenue recorded				10.00%
SanDisk Corporation [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of net revenue recorded				11.00%
Minimum [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage ownership of voting interest for investments in businesses	20.00%
Maximum [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage ownership of voting interest for investments in businesses	50.00%

Inventories (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Inventories [Line Items]

Raw materials

$ 56,198

$ 46,940

$ 49,591

Work-in-process

2,154

2,101

2,006

Finished goods

25,638

27,842

22,499

$ 83,990

$ 94,675

$ 94,909

$ 76,883

$ 83,263

$ 79,667

$ 80,007

$ 74,096

^[1]

$ 66,270

$ 67,107

$ 71,037

[1]	As Restated

Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Jul. 31, 2012
Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	32 years
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Minimum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Minimum [Member] \| Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Maximum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Maximum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Maximum [Member] \| Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	8 years

Reconciliation of Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2012

Jul. 31, 2011

^[1]

Jul. 31, 2010

^[1]

Jul. 31, 2009

^[1]

BASIC

$ (38,599)

$ (34,135)

$ (21,523)

$ (199,509)

Less net income allocable to participating restricted stock

$ 670

$ (91)

$ (104)

$ (45)

$ (2,334)

$ (29)

$ 45

491

(330)

(2,318)

126

Net loss available for basic common shares

$ (38,108)

$ (34,465)

$ (23,841)

$ (199,383)

Weighted average common shares outstanding

43,434

43,318

43,317

43,502

43,279

43,309

43,652

43,730

44,301

44,921

43,565

43,294

44,104

45,372

Basic net loss per common share from continuing operations

$ (0.88)

$ (0.79)

$ (0.49)

$ (4.39)

Basic net income (loss) per common share from discontinued operations

0.01

(0.01)

(0.05)

Basic net loss per common share

$ (0.87)

$ (0.80)

$ (0.54)

$ (4.39)

DILUTED

$ (38,599)

$ (34,135)

$ (21,523)

$ (199,509)

Less net income allocable to participating restricted stock

$ 670

$ (91)

$ (104)

$ (45)

$ (2,334)

$ (29)

$ 45

491

(330)

(2,318)

126

Net loss available for diluted common shares

$ (38,108)

$ (34,465)

$ (23,841)

$ (199,383)

Weighted average common shares outstanding

43,434

43,318

43,317

43,502

43,279

43,309

43,652

43,730

44,301

44,921

43,565

43,294

44,104

45,372

Weighted average common equivalent shares arising from: dilutive stock options

Weighted-average number of common and potential common shares

43,565

43,294

44,104

45,372

Diluted net loss per common share from continuing operations

$ (0.88)

$ (0.79)

$ (0.49)

$ (4.39)

Diluted net income (loss) per common share from discontinued operations

0.01

(0.01)

(0.05)

Diluted net loss per common share

$ (0.87)

$ (0.80)

$ (0.54)

$ (4.39)

[1]	As Restated

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENT - Additional Information (Detail) - USD ($)
$ / shares in Thousands, $ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

Jan. 31, 2012

Oct. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Condensed Financial Statements, Captions [Line Items]

Decrease in revenues

$ 5,600

Change in net income

$ 6,000

Increase (decrease)in basic and diluted earnings per share

$ 140

Claims Derecognized

$ 11,800

$ 13,500

Adjustment to reverse a reserve for an uncertain tax position

3,700

$ (7,236,775)

(7,198,667)

^[1]

$ (7,164,202)

^[1]

$ (7,140,300)

^[1]

$ (7,210,399)

^[1]

$ (7,197,523)

^[1]

$ (7,194,216)

^[1]

$ (7,195,693)

^[1]

$ (7,166,413)

^[1]

$ (7,137,335)

^[1]

$ (7,132,005)

^[1]

$ (7,133,163)

^[1]

Condensed Financial Statements, Captions [Line Items]

Reduction of retained earnings

37,100

(7,170,030)

$ (7,121,015)

(7,103,200)

$ (7,181,474)

$ (7,168,862)

$ (7,161,145)

$ (7,156,019)

$ (7,127,685)

$ (7,095,530)

$ (7,092,103)

$ (7,094,670)

Condensed Financial Statements, Captions [Line Items]

Decrease in revenues

2,700

6,600

Change in net income

$ 14,600

$ 5,900

Increase (decrease)in basic and diluted earnings per share

$ 330

$ 130

[1]	As Restated

Consolidated Statements of Balance Sheet (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2009

Jul. 31, 2008

$ 52,369

$ 95,618

^[1]

$ 111,526

^[1]

$ 111,225

^[1]

$ 119,120

^[1]

$ 154,217

^[1]

$ 145,924

^[1]

$ 161,364

^[1]

$ 159,897

^[1]

$ 163,970

^[1]

$ 174,402

^[1]

$ 168,767

^[1]

$ 160,585

^[1]

Accounts receivable, trade, net of allowance for doubtful accounts of $473

131

132

^[1]

133

^[1]

131

^[1]

130

^[1]

222

^[1]

233

^[1]

270

^[1]

335

^[1]

284

^[1]

284

^[1]

148,931

156,195

^[1]

187,952

^[1]

146,411

^[1]

135,622

^[1]

140,892

^[1]

186,479

^[1]

159,768

^[1]

146,203

^[1]

150,311

^[1]

194,142

^[1]

83,990

94,675

^[1]

94,909

^[1]

76,883

^[1]

83,263

^[1]

79,667

^[1]

80,007

^[1]

74,096

^[1]

66,270

^[1]

67,107

^[1]

71,037

^[1]

10,466

10,325

^[1]

10,120

^[1]

10,876

^[1]

13,803

^[1]

12,084

^[1]

13,488

^[1]

14,226

^[1]

12,020

^[1]

13,060

^[1]

10,135

^[1]

295,887

356,945

^[1]

404,640

^[1]

345,526

^[1]

351,938

^[1]

387,082

^[1]

426,131

^[1]

409,724

^[1]

384,725

^[1]

394,732

^[1]

450,000

^[1]

^[1]

40,772

43,493

44,807

47,403

50,052

50,072

52,353

53,061

55,025

56,529

59,134

10,803

12,352

^[1]

12,642

^[1]

12,016

^[1]

13,276

^[1]

12,200

^[1]

12,306

^[1]

13,016

^[1]

13,022

^[1]

13,180

^[1]

12,514

^[1]

3,058

^[1]

3,058

^[1]

3,058

^[1]

3,058

^[1]

3,058

^[1]

16,207

^[1]

16,207

^[1]

42,007

^[1]

42,007

^[1]

25,708

^[1]

25,708

2,897

4,029

^[1]

4,360

^[1]

4,699

^[1]

5,736

^[1]

6,798

^[1]

22,495

^[1]

24,173

^[1]

25,852

^[1]

27,509

^[1]

21,748

^[1]

5,465

10,318

^[1]

9,510

^[1]

9,545

^[1]

10,402

^[1]

10,307

^[1]

10,022

^[1]

9,760

^[1]

10,140

^[1]

9,741

^[1]

8,111

^[1]

358,882

430,195

^[1]

479,017

^[1]

422,247

^[1]

434,462

^[1]

469,517

^[1]

539,514

^[1]

525,941

^[1]

530,771

^[1]

543,698

^[1]

577,215

^[1]

Current installments of obligations under capital leases

^[1]

105

^[1]

115

^[1]

110,520

135,970

^[1]

164,196

^[1]

114,588

^[1]

111,000

^[1]

111,205

^[1]

144,930

^[1]

132,098

^[1]

108,730

^[1]

112,756

^[1]

135,990

^[1]

1,724

4,978

^[1]

1,909

^[1]

1,456

^[1]

1,618

^[1]

2,123

^[1]

3,026

^[1]

2,632

^[1]

5,611

^[1]

6,445

^[1]

8,842

^[1]

^[1]

1,260

180

242

1,260

1,377

1,155

41,753

37,776

^[1]

42,407

^[1]

36,384

^[1]

40,572

^[1]

39,005

^[1]

46,213

^[1]

45,963

^[1]

41,329

^[1]

43,477

^[1]

48,130

^[1]

26,778

39,489

^[1]

39,765

^[1]

38,624

^[1]

39,228

^[1]

44,641

^[1]

43,230

^[1]

47,649

^[1]

46,265

^[1]

46,068

^[1]

43,766

^[1]

1,528

1,452

^[1]

1,817

^[1]

1,817

^[1]

1,686

^[1]

1,686

^[1]

1,792

^[1]

1,791

^[1]

1,992

^[1]

1,602

^[1]

1,666

^[1]

182,376

219,754

^[1]

251,442

^[1]

193,143

^[1]

194,193

^[1]

198,749

^[1]

239,510

^[1]

230,272

^[1]

205,284

^[1]

211,830

^[1]

239,664

^[1]

Obligations under capital leases, less current installments

^[1]

109

299

484

665

1,000

1,276

1,686

1,804

104

^[1]

100

^[1]

126

^[1]

144

^[1]

170

^[1]

203

^[1]

220

^[1]

11,012

12,030

^[1]

12,326

^[1]

12,585

^[1]

16,894

^[1]

16,715

^[1]

16,981

^[1]

15,722

^[1]

15,686

^[1]

16,437

^[1]

16,899

^[1]

293

983

^[1]

1,623

^[1]

1,883

^[1]

2,241

^[1]

2,587

^[1]

2,929

^[1]

3,289

^[1]

3,575

^[1]

2,057

^[1]

2,235

^[1]

^[1]

232,980

265,517

207,705

213,707

218,635

260,211

250,427

225,991

232,213

260,822

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

^[1]

Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,829,097 issued and outstanding shares

439

443

^[1]

441

^[1]

438

^[1]

438

^[1]

438

^[1]

437

^[1]

440

^[1]

441

^[1]

443

^[1]

449

^[1]

7,390,027

7,388,896

^[1]

7,387,871

^[1]

7,387,135

^[1]

7,386,248

^[1]

7,425,434

^[1]

7,424,402

^[1]

7,427,031

^[1]

7,426,120

^[1]

7,427,477

^[1]

7,432,500

^[1]

Treasury stock, at cost

^[1]

(1,992)

(7,236,775)

(7,210,399)

^[1]

(7,197,523)

^[1]

(7,198,667)

^[1]

(7,194,216)

^[1]

(7,195,693)

^[1]

(7,166,413)

^[1]

(7,164,202)

^[1]

(7,137,335)

^[1]

(7,132,005)

^[1]

(7,133,163)

^[1]

(7,140,300)

^[1]

11,441

18,275

^[1]

22,711

^[1]

25,636

^[1]

28,285

^[1]

20,703

^[1]

20,877

^[1]

14,237

^[1]

15,554

^[1]

15,570

^[1]

16,607

^[1]

165,132

197,215

^[1]

213,500

^[1]

214,542

^[1]

220,755

^[1]

250,882

^[1]

279,303

^[1]

275,514

^[1]

304,780

^[1]

311,485

^[1]

316,393

^[1]

$ 358,882

430,195

^[1]

479,017

^[1]

422,247

^[1]

434,462

^[1]

469,517

^[1]

539,514

^[1]

525,941

^[1]

530,771

^[1]

543,698

^[1]

577,215

^[1]

95,618

111,526

111,225

119,120

154,217

145,924

161,364

159,897

163,970

174,402

168,767

$ 160,585

Accounts receivable, trade, net of allowance for doubtful accounts of $473

132

133

131

130

222

233

270

335

284

156,195

187,952

146,411

135,622

140,892

186,479

159,768

146,203

150,311

194,142

94,675

94,909

77,102

83,263

79,667

80,007

74,096

66,270

67,107

71,037

10,325

10,120

10,876

13,803

12,084

13,488

14,226

12,020

13,060

10,135

356,945

404,640

345,745

351,938

387,082

426,131

409,724

384,725

394,732

450,000

43,371

44,716

47,299

49,935

49,942

52,210

52,906

54,857

56,348

58,940

12,352

12,642

12,016

14,073

12,997

13,103

13,016

13,022

13,180

12,514

3,058

16,207

42,007

25,708

4,029

4,360

4,699

5,736

6,798

22,495

24,173

25,852

27,509

21,748

10,318

9,510

9,545

10,402

10,307

10,022

9,760

10,140

9,741

8,111

430,073

478,926

422,362

435,142

470,184

540,168

525,786

530,603

543,517

577,021

Current installments of obligations under capital leases

135,970

164,196

114,588

111,000

111,205

144,930

132,098

108,730

112,756

135,990

4,978

1,909

1,456

1,618

2,123

3,026

2,632

5,611

7,021

9,364

1,260

180

242

1,260

1,377

1,155

37,776

42,407

36,384

40,314

38,755

45,971

45,729

41,103

43,259

47,920

6,934

7,692

7,029

7,995

6,949

6,048

4,773

4,696

5,817

4,969

1,452

1,817

1,686

1,792

1,791

1,992

1,602

1,666

187,139

219,318

161,497

162,651

160,756

202,035

187,111

163,438

171,886

201,128

Obligations under capital leases, less current installments

109

299

484

665

1,000

1,276

1,686

1,804

15,755

15,791

15,773

16,122

15,791

16,485

15,656

15,686

16,437

16,899

983

1,623

1,883

2,241

2,587

2,929

3,289

3,575

2,057

2,235

204,018

236,807

179,183

181,316

179,628

222,137

207,085

184,018

192,130

222,135

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,829,097 issued and outstanding shares

443

441

438

437

440

441

443

449

7,388,896

7,387,871

7,387,135

7,386,248

7,425,434

7,424,402

7,427,031

7,426,120

7,427,477

7,432,500

Treasury stock, at cost

(1,992)

(7,181,474)

(7,168,862)

(7,170,030)

(7,161,145)

(7,156,019)

(7,127,685)

(7,121,015)

(7,095,530)

(7,092,103)

(7,094,670)

$ (7,103,200)

18,190

22,669

25,636

28,285

20,703

20,877

14,237

15,554

15,570

16,607

226,055

242,119

243,179

253,826

290,556

318,031

318,701

346,585

351,387

354,886

430,073

478,926

422,362

435,142

470,184

540,168

525,786

530,603

543,517

577,021

31,619

31,123

30,706

30,307

37,053

36,545

42,282

41,307

40,251

38,797

31,619

31,123

30,706

30,307

37,053

36,545

42,282

41,307

40,251

38,797

31,619

31,123

30,706

30,307

37,053

36,545

42,282

41,307

40,251

38,797

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

(31,619)

(31,123)

(30,706)

(30,307)

(37,053)

(36,545)

(42,282)

(41,307)

(40,251)

(38,797)

(31,619)

(31,123)

(30,706)

(30,307)

(37,053)

(36,545)

(42,282)

(41,307)

(40,251)

(38,797)

(219)

(219)

122

104

117

130

143

155

168

181

194

(797)

122

(115)

(680)

(667)

(654)

155

168

181

194

Current installments of obligations under capital leases

(576)

(522)

258

250

242

234

226

218

210

936

950

889

926

639

637

594

262

Obligations under capital leases, less current installments

996

1,001

940

1,235

940

930

879

539

(307)

(261)

103

115

127

139

151

(3,725)

(3,465)

(3,188)

772

924

496

(2,657)

(2,413)

(2,184)

2,084

1,954

1,529

1,060

666

(168)

(110)

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

2,694

2,462

2,069

(2,764)

(2,621)

(2,183)

(905)

(498)

349

304

2,779

2,504

2,069

(2,764)

(2,621)

(2,183)

(905)

(498)

349

304

Condensed Financial Statements, Captions [Line Items]

$ 122

$ 91

$ (115)

$ (680)

$ (667)

$ (654)

$ 155

$ 168

$ 181

$ 194

[1]	As Restated

Consolidated Statements of Balance Sheet (Parenthetical) (Detail) - USD ($)
$ / shares in Units, $ in Thousands

Jul. 31, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2009

Accounts receivable, trade, net of allowance for doubtful accounts

$ 344

$ 353

^[1]

$ 332

^[1]

$ 473

^[1]

$ 777

^[1]

$ 1,027

^[1]

$ 994

^[1]

$ 919

^[1]

$ 879

^[1]

$ 1,257

^[1]

$ 1,154

^[1]

$ 3,767

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

^[1]

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

43,926,622

44,264,450

^[1]

44,076,160

^[1]

43,829,097

^[1]

43,824,651

^[1]

43,814,824

^[1]

43,723,322

^[1]

44,039,938

^[1]

44,056,151

^[1]

44,293,804

^[1]

44,931,506

^[1]

43,926,622

44,264,450

^[1]

44,076,160

^[1]

43,829,097

^[1]

43,824,651

^[1]

43,814,824

^[1]

43,723,322

^[1]

43,729,338

^[1]

44,056,151

^[1]

44,293,804

^[1]

44,931,506

^[1]

Condensed Financial Statements, Captions [Line Items]

Accounts receivable, trade, net of allowance for doubtful accounts

$ 353

$ 332

$ 473

$ 777

$ 1,027

$ 994

$ 919

$ 879

$ 1,257

$ 1,154

$ 0.01

5,000,000

$ 0.01

1,400,000,000

44,264,450

44,076,160

43,829,097

43,824,651

43,814,824

43,723,322

44,039,938

44,056,151

44,293,804

44,931,506

44,264,450

44,076,160

43,829,097

43,824,651

43,814,824

43,723,322

43,729,338

44,056,151

44,293,804

44,931,506

Condensed Financial Statements, Captions [Line Items]

Accounts receivable, trade, net of allowance for doubtful accounts

$ 473

$ 919

$ 0.01

5,000,000

$ 0.01

1,400,000,000

43,829,097

44,039,938

43,829,097

43,729,338

Condensed Financial Statements, Captions [Line Items]

Accounts receivable, trade, net of allowance for doubtful accounts

$ 473

$ 919

$ 0.01

5,000,000

$ 0.01

1,400,000,000

43,829,097

44,039,938

Condensed Financial Statements, Captions [Line Items]

43,829,097

43,729,338

[1]	As Restated

Consolidated Statements of operations (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Jul. 31, 2012

Apr. 30, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

$ 177,094

$ 178,565

$ 178,324

^[1]

$ 205,908

^[1]

$ 198,688

^[1]

$ 206,579

^[1]

$ 233,212

^[1]

$ 235,271

^[1]

$ 226,760

^[1]

$ 212,379

^[1]

$ 234,034

^[1]

$ 245,273

^[1]

$ 739,891

$ 873,748

^[1]

$ 918,445

^[1]

$ 1,001,980

^[1]

169,477

163,146

162,518

^[1]

180,437

^[1]

181,103

^[1]

186,912

^[1]

210,765

^[1]

214,031

^[1]

203,692

^[1]

189,096

^[1]

203,960

^[1]

210,670

^[1]

675,579

792,809

^[1]

807,416

^[1]

886,144

^[1]

7,617

15,419

15,806

^[1]

25,471

^[1]

17,585

^[1]

19,667

^[1]

22,447

^[1]

21,240

^[1]

23,068

^[1]

23,283

^[1]

30,074

^[1]

34,603

^[1]

64,312

80,939

^[1]

111,029

^[1]

115,836

^[1]

24,607

^[1]

22,198

^[1]

21,390

^[1]

20,788

^[1]

20,458

^[1]

22,551

^[1]

24,585

^[1]

21,395

^[1]

23,917

^[1]

22,958

^[1]

99,409

85,187

^[1]

92,855

^[1]

99,938

^[1]

332

^[1]

332

^[1]

1,037

^[1]

1,062

^[1]

1,679

^[1]

1,679

^[1]

1,680

^[1]

1,657

^[1]

1,599

^[1]

1,372

^[1]

1,279

5,457

^[1]

6,308

^[1]

5,485

^[1]

27,166

^[1]

25,800

^[1]

2,062

27,166

^[1]

25,800

^[1]

164,682

^[1]

4,597

^[1]

755

^[1]

(406)

^[1]

412

^[1]

789

^[1]

(1,858)

^[1]

836

^[1]

(18)

^[1]

7,455

795

^[1]

(965)

^[1]

19,341

^[1]

30,982

26,403

29,536

^[1]

23,285

^[1]

22,021

^[1]

21,850

^[1]

49,715

^[1]

25,019

^[1]

50,207

^[1]

23,888

^[1]

25,498

^[1]

24,405

^[1]

110,205

118,605

^[1]

123,998

^[1]

289,446

^[1]

(23,365)

(10,984)

(13,730)

^[1]

2,186

^[1]

(4,436)

^[1]

(2,183)

^[1]

(27,268)

^[1]

(3,779)

^[1]

(27,139)

^[1]

(605)

^[1]

4,576

^[1]

10,198

^[1]

(45,893)

(37,666)

^[1]

(12,969)

^[1]

(173,610)

^[1]

(7,038)

^[1]

6,945

^[1]

445

^[1]

1,206

^[1]

(23,582)

^[1]

685

^[1]

(24,158)

^[1]

2,912

^[1]

8,412

^[1]

13,902

^[1]

(18,774)

(21,247)

^[1]

(12,969)

^[1]

(159,510)

^[1]

122

^[1]

122

^[1]

121

^[1]

380

238

^[1]

298

^[1]

1,493

^[1]

(98)

^[1]

(90)

^[1]

(105)

^[1]

(110)

^[1]

(122)

^[1]

(125)

^[1]

(148)

^[1]

(133)

^[1]

(161)

^[1]

(131)

^[1]

(373)

(462)

^[1]

(573)

^[1]

(816)

^[1]

830

^[1]

1,225

^[1]

(726)

^[1]

5,532

^[1]

(372)

^[1]

4,447

^[1]

744

^[1]

(1,153)

^[1]

(289)

^[1]

(291)

^[1]

14,431

8,882

^[1]

(988)

^[1]

820

^[1]

(290)

^[1]

(427)

^[1]

(2,094)

^[1]

(401)

^[1]

(370)

^[1]

(1,443)

^[1]

(205)

^[1]

(211)

^[1]

(848)

^[1]

(864)

^[1]

(4,109)

(4,308)

^[1]

(2,129)

^[1]

(16,565)

^[1]

Income (loss) from continuing operations before income taxes

564

^[1]

830

^[1]

(2,878)

^[1]

5,083

^[1]

(776)

^[1]

2,921

^[1]

437

^[1]

(1,448)

^[1]

(1,216)

^[1]

(1,165)

^[1]

10,329

4,350

^[1]

(3,392)

^[1]

(15,068)

^[1]

(13,166)

^[1]

3,016

^[1]

(7,314)

^[1]

2,900

^[1]

(28,044)

^[1]

(858)

^[1]

(26,702)

^[1]

(2,053)

^[1]

3,360

^[1]

9,033

^[1]

(35,564)

(33,316)

^[1]

(16,361)

^[1]

(188,678)

^[1]

Income tax expense (benefit)

3,035

819

^[1]

5,162

^[1]

10,831

^[1]

(38,599)

(34,135)

^[1]

(21,523)

^[1]

(199,509)

^[1]

670

^[1]

(91)

^[1]

(91)

^[1]

(104)

^[1]

(45)

^[1]

(2,334)

^[1]

(29)

^[1]

491

(330)

^[1]

(2,318)

^[1]

126

^[1]

$ (20,240)

$ (6,136)

$ (12,876)

^[1]

$ 1,145

^[1]

$ (4,451)

^[1]

$ 1,478

^[1]

$ (29,280)

^[1]

$ (2,212)

^[1]

$ (26,867)

^[1]

$ (5,329)

^[1]

$ 1,157

^[1]

$ 7,197

^[1]

$ (38,108)

$ (34,465)

^[1]

$ (23,841)

^[1]

$ (199,383)

^[1]

$ (0.46)

$ (0.14)

$ (0.32)

^[1]

$ 0.03

^[1]

$ (0.10)

^[1]

$ 0.03

^[1]

$ (0.68)

^[1]

$ (0.05)

^[1]

$ (0.62)

^[1]

$ (0.07)

^[1]

$ 0.03

^[1]

$ 0.16

^[1]

$ (0.88)

$ (0.79)

^[1]

$ (0.49)

^[1]

$ (4.39)

^[1]

0.02

^[1]

(0.05)

^[1]

0.01

(0.01)

^[1]

(0.05)

^[1]

$ (0.14)

$ (0.30)

^[1]

$ 0.03

^[1]

$ (0.10)

^[1]

$ 0.03

^[1]

$ (0.68)

^[1]

$ (0.05)

^[1]

$ (0.62)

^[1]

$ (0.12)

^[1]

$ 0.03

^[1]

$ 0.16

^[1]

$ (0.87)

$ (0.80)

^[1]

$ (0.54)

^[1]

$ (4.39)

^[1]

43,434

^[1]

43,315

^[1]

43,317

^[1]

43,303

^[1]

43,279

^[1]

43,309

^[1]

43,652

^[1]

43,730

^[1]

44,208

^[1]

44,806

^[1]

43,565

43,294

^[1]

44,104

^[1]

45,372

^[1]

43,434

^[1]

43,318

^[1]

43,317

^[1]

43,502

^[1]

43,279

^[1]

43,309

^[1]

43,652

^[1]

43,730

^[1]

44,301

^[1]

44,921

^[1]

43,565

43,294

^[1]

44,104

^[1]

45,372

^[1]

Condensed Financial Statements, Captions [Line Items]

$ 178,588

$ 206,151

$ 198,798

$ 207,140

$ 234,150

$ 236,379

$ 228,133

$ 213,697

$ 235,488

$ 246,678

$ 876,466

$ 923,996

$ 1,008,554

162,521

180,658

181,144

186,906

210,759

214,025

203,686

189,090

203,954

210,664

792,833

807,393

886,119

16,067

25,493

17,654

20,234

23,391

22,354

24,447

24,607

31,534

36,014

83,633

116,603

122,435

24,607

22,198

21,390

20,788

20,458

22,551

24,585

21,395

23,917

22,958

85,187

92,855

100,409

332

1,037

1,062

1,679

1,680

1,657

1,599

1,372

5,457

6,308

5,485

27,166

25,800

27,166

25,800

164,682

4,597

755

(406)

412

789

(1,858)

260

129

795

(1,433)

19,552

29,536

23,285

22,021

21,850

49,715

25,019

50,207

23,312

25,552

24,459

118,605

123,530

290,128

(13,469)

2,208

(4,367)

(1,616)

(26,324)

(2,665)

(25,760)

1,295

5,982

11,555

(34,972)

(167,693)

(6,927)

122

121

238

298

1,493

(96)

(88)

(103)

(108)

(120)

(122)

(145)

(130)

(158)

(127)

(453)

(561)

(802)

830

1,225

(726)

(1,641)

(372)

(1,925)

744

(1,153)

(289)

(291)

(4,663)

(988)

820

(290)

(427)

(2,891)

(401)

(370)

(646)

(205)

(211)

(848)

(864)

(4,308)

(2,129)

(16,565)

Income (loss) from continuing operations before income taxes

566

832

(3,673)

(2,088)

(774)

(2,651)

440

(1,445)

(1,213)

(1,161)

(9,186)

(3,380)

(15,054)

(12,903)

3,040

(8,040)

(3,704)

(27,098)

(5,316)

(25,320)

(150)

4,769

10,394

(44,158)

(10,307)

(182,747)

Income tax expense (benefit)

4,527

5,162

10,831

(48,685)

(15,469)

(193,578)

670

(91)

(104)

(45)

(2,334)

(29)

(330)

(2,318)

126

$ (12,613)

$ 1,169

$ (8,885)

$ (5,126)

$ (28,334)

$ (6,670)

$ (25,485)

$ (3,426)

$ 2,566

$ 8,558

$ (49,015)

$ (17,787)

$ (193,452)

$ (0.31)

$ 0.03

$ (0.21)

$ (0.12)

$ (0.65)

$ (0.15)

$ (0.58)

$ (0.03)

$ 0.06

$ 0.19

$ (1.12)

$ (0.35)

$ (4.26)

0.02

(0.05)

(0.01)

(0.05)

$ (0.29)

$ 0.03

$ (0.21)

$ (0.12)

$ (0.65)

$ (0.15)

$ (0.58)

$ (0.08)

$ 0.06

$ 0.19

$ (1.13)

$ (0.40)

$ (4.26)

43,434

43,315

43,317

43,303

43,279

43,309

43,652

43,730

44,208

44,806

43,294

44,104

45,372

43,434

43,318

43,317

43,303

43,279

43,309

43,652

43,730

44,301

44,921

43,294

44,104

45,372

Condensed Financial Statements, Captions [Line Items]

$ (496)

$ (417)

$ (399)

$ (426)

$ (508)

$ (635)

$ (975)

$ (1,056)

$ (1,454)

$ (1,405)

$ (1,969)

$ (4,891)

$ (6,574)

(496)

(417)

(399)

(426)

(508)

(635)

(975)

(1,056)

(1,454)

(1,405)

(1,969)

(4,891)

(6,574)

(496)

(417)

(399)

(426)

(508)

(635)

(975)

(1,056)

(1,454)

(1,405)

(1,969)

(6,574)

(4,891)

7,173

6,372

13,545

Income (loss) from continuing operations before income taxes

7,173

6,372

13,545

(496)

(417)

(399)

6,747

(508)

5,737

(975)

(1,056)

(1,454)

(1,405)

11,576

(4,891)

(6,574)

11,576

(4,891)

(6,574)

$ (496)

$ (417)

$ (399)

$ 6,747

$ (508)

$ 5,737

$ (975)

$ (1,056)

$ (1,454)

$ (1,405)

$ 11,576

$ (4,891)

$ (6,574)

$ (0.01)

$ 0.15

$ (0.02)

$ 0.13

$ (0.03)

$ (0.02)

$ (0.03)

$ 0.26

$ (0.11)

$ (0.14)

$ (0.01)

$ 0.15

$ (0.02)

$ 0.13

$ (0.03)

$ (0.02)

$ (0.03)

$ 0.26

$ (0.11)

$ (0.14)

Condensed Financial Statements, Captions [Line Items]

$ 232

$ 174

$ 289

$ (135)

$ (430)

$ (473)

$ (398)

$ (262)

$ (749)

$ (660)

(3)

(221)

(41)

$ 6

(24)

$ 25

235

395

330

(141)

(436)

(479)

(404)

(268)

(6)

(725)

(683)

(25)

(471)

576

(54)

468

(211)

576

(54)

468

(682)

235

395

330

(141)

(436)

(479)

(404)

(844)

(725)

657

(1,151)

(2)

(3)

(4)

(9)

(12)

(14)

797

(797)

Income (loss) from continuing operations before income taxes

(2)

795

(2)

(800)

(3)

(4)

(9)

(12)

(14)

233

393

1,125

(143)

(438)

(1,279)

(407)

(847)

(734)

(1,163)

643

Income tax expense (benefit)

(3,708)

2,974

(1,163)

643

$ 233

$ 393

$ 4,833

$ (143)

$ (438)

$ (1,279)

$ (407)

$ (847)

$ 45

$ 44

$ 2,974

$ (1,163)

$ 643

$ 0.01

$ 0.12

$ (0.01)

$ (0.03)

$ (0.01)

$ (0.02)

$ 0.07

$ (0.03)

$ 0.01

Cash flows from operating activities of continuing operations:

$ 0.01

$ 0.12

$ (0.01)

$ (0.03)

$ (0.01)

$ (0.02)

$ 0.07

$ (0.03)

$ 0.01

[1]	As Restated

Consolidated Statements of Cash Flows (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jul. 31, 2012

Apr. 30, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

$ (20,240)

$ (6,136)

$ (12,876)

^[1]

$ 1,145

^[1]

$ (4,451)

^[1]

$ 1,478

^[1]

$ (29,280)

^[1]

$ (2,212)

^[1]

$ (26,867)

^[1]

$ (5,329)

^[1]

$ 1,157

^[1]

$ 7,197

^[1]

$ (38,108)

$ (34,465)

^[1]

$ (23,841)

^[1]

$ (199,383)

^[1]

670

^[1]

(91)

^[1]

(91)

^[1]

(104)

^[1]

(45)

^[1]

(2,334)

^[1]

(29)

^[1]

491

(330)

^[1]

(2,318)

^[1]

126

^[1]

Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:

(38,599)

(34,135)

^[1]

(21,523)

^[1]

(199,509)

^[1]

3,552

^[1]

3,748

^[1]

4,474

^[1]

4,140

^[1]

4,209

^[1]

4,010

^[1]

4,214

^[1]

4,230

^[1]

4,239

^[1]

4,237

^[1]

14,057

16,833

^[1]

16,918

^[1]

20,057

^[1]

27,166

^[1]

25,800

^[1]

2,062

27,166

^[1]

25,800

^[1]

164,682

^[1]

332

^[1]

332

^[1]

1,037

^[1]

1,062

^[1]

1,679

^[1]

1,679

^[1]

1,680

^[1]

1,657

^[1]

1,599

^[1]

1,372

^[1]

1,279

5,457

^[1]

6,308

^[1]

5,485

^[1]

998

^[1]

882

^[1]

861

^[1]

722

^[1]

994

^[1]

903

^[1]

857

^[1]

900

^[1]

1,325

^[1]

1,072

^[1]

2,990

3,481

^[1]

4,154

^[1]

5,103

^[1]

(830)

^[1]

(1,225)

^[1]

726

^[1]

(5,532)

^[1]

372

^[1]

(4,447)

^[1]

(744)

^[1]

1,153

^[1]

289

^[1]

291

^[1]

(14,431)

(8,882)

^[1]

988

^[1]

(820)

^[1]

Non-cash restructuring charges

290

^[1]

427

^[1]

2,094

^[1]

401

^[1]

370

^[1]

1,443

^[1]

205

^[1]

211

^[1]

848

^[1]

864

^[1]

4,109

4,308

^[1]

2,129

^[1]

16,565

^[1]

^[1]

389

Changes in operating assets and liabilities, excluding effects from acquisition:

Trade accounts receivable, net

(9,755)

20,050

^[1]

9,607

^[1]

33,138

^[1]

(11,604)

583

^[1]

(7,604)

^[1]

18,737

^[1]

Accounts payable, accrued restructuring and accrued expenses

(1,591)

3,906

^[1]

707

^[1]

(390)

^[1]

9,086

(38,511)

^[1]

2,307

^[1]

(38,976)

^[1]

(5,766)

(3,297)

^[1]

171

^[1]

(168)

^[1]

Net cash provided by (used in) operating activities of continuing operations

10,225

(125)

^[1]

1,233

^[1]

11,689

^[1]

(37,938)

(3,166)

^[1]

41,195

^[1]

35,982

^[1]

Cash flows from investing activities of continuing operations:

Additions to property and equipment

(11,564)

(8,968)

^[1]

(9,194)

^[1]

(11,060)

^[1]

Redemption (purchase) of short-term investments

^[1]

10,000

(10,000)

Proceeds from the sale of available-for-sale securities

(2,912)

(3,473)

^[1]

(3,402)

^[1]

(9,533)

^[1]

^[1]

115

1,319

Business acquisitions, net of cash acquired

^[1]

(29,580)

Proceeds from the sale of equity investments in affiliates

238

^[1]

1,319

^[1]

18,008

^[1]

Net cash used in investing activities of continuing operations

(14,452)

(12,088)

^[1]

(30,857)

^[1]

(12,585)

^[1]

Cash flows from financing activities of continuing operations:

Payments of dividends

^[1]

(40,001)

Line of credit origination costs

(124)

(106)

^[1]

(524)

^[1]

(408)

^[1]

^[1]

(782)

Proceeds from issuance of common stock

204

^[1]

331

^[1]

113

^[1]

Net cash used in financing activities of continuing operations

(188)

(1,633)

^[1]

(13,521)

^[1]

(7,137)

^[1]

(221)

(41,536)

^[1]

(14,496)

^[1]

(7,432)

^[1]

Cash flows from discontinued operations:

Operating cash flows

(1,501)

(1,713)

^[1]

(1,723)

^[1]

(2,276)

^[1]

Net cash used in discontinued operations

(1,501)

(1,713)

^[1]

(1,723)

^[1]

(2,276)

^[1]

Net effect of exchange rate changes on cash and cash equivalents

(4,744)

8,364

^[1]

(1,522)

^[1]

(5,507)

^[1]

Net decrease in cash and cash equivalents

(58,856)

(50,139)

^[1]

(7,403)

^[1]

8,182

^[1]

Cash and cash equivalents at beginning of year

^[1]

95,618

111,526

111,225

119,120

154,217

145,924

161,364

159,897

163,970

174,402

168,767

111,225

161,364

168,767

160,585

Cash and cash equivalents at end of year

$ 52,369

95,618

^[1]

111,526

^[1]

111,225

^[1]

119,120

^[1]

154,217

^[1]

145,924

^[1]

161,364

^[1]

159,897

^[1]

163,970

^[1]

174,402

^[1]

52,369

111,225

^[1]

161,364

^[1]

168,767

^[1]

Cash flows from operating activities of continuing operations:

(12,613)

1,169

(8,885)

(5,126)

(28,334)

(6,670)

(25,485)

(3,426)

2,566

8,558

(49,015)

(17,787)

(193,452)

670

(91)

(104)

(45)

(2,334)

(29)

(330)

(2,318)

126

Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:

(48,685)

(15,469)

(193,578)

16,782

16,867

20,012

27,166

25,800

27,166

25,800

164,682

332

1,037

1,062

1,679

1,680

1,657

1,599

1,372

5,457

6,308

5,485

3,481

4,154

5,103

(830)

(1,225)

726

1,641

372

1,925

(744)

1,153

289

291

4,663

988

(820)

Non-cash restructuring charges

290

427

2,891

401

370

646

205

211

848

864

4,308

2,129

16,565

389

Changes in operating assets and liabilities, excluding effects from acquisition:

Trade accounts receivable, net

20,050

9,607

33,138

364

(7,604)

18,737

Accounts payable, accrued restructuring and accrued expenses

3,906

707

(390)

(38,277)

1,807

(38,327)

411

171

(168)

Net cash provided by (used in) operating activities of continuing operations

(2,843)

(4,317)

5,115

(3,217)

41,148

35,943

Cash flows from investing activities of continuing operations:

Additions to property and equipment

(8,968)

(9,194)

(11,060)

Redemption (purchase) of short-term investments

10,000

(10,000)

Proceeds from the sale of available-for-sale securities

(3,473)

(3,402)

(9,533)

115

1,319

Business acquisitions, net of cash acquired

(29,580)

Proceeds from the sale of equity investments in affiliates

238

18,008

Net cash used in investing activities of continuing operations

(12,088)

(30,857)

(12,585)

Cash flows from financing activities of continuing operations:

Payments of dividends

(40,001)

Line of credit origination costs

(55)

(477)

(369)

(782)

Proceeds from issuance of common stock

204

331

113

Net cash used in financing activities of continuing operations

(1,633)

(13,521)

(7,137)

(41,485)

(14,449)

(7,393)

Cash flows from discontinued operations:

Operating cash flows

(1,713)

(1,723)

(2,276)

Net cash used in discontinued operations

(1,713)

(1,723)

(2,276)

Net effect of exchange rate changes on cash and cash equivalents

8,364

(1,522)

(5,507)

Net decrease in cash and cash equivalents

(50,139)

(7,403)

8,182

Cash and cash equivalents at beginning of year

$ 95,618

111,526

111,225

119,120

154,217

145,924

161,364

159,897

163,970

174,402

168,767

$ 111,225

161,364

168,767

160,585

Cash and cash equivalents at end of year

95,618

111,526

111,225

119,120

154,217

145,924

161,364

159,897

163,970

174,402

111,225

161,364

168,767

Cash flows from operating activities of continuing operations:

(496)

(417)

(399)

6,747

(508)

5,737

(975)

(1,056)

(1,454)

(1,405)

11,576

(4,891)

(6,574)

Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:

11,576

(4,891)

(6,574)

Changes in operating assets and liabilities, excluding effects from acquisition:

(7,173)

(6,372)

(13,545)

1,969

4,891

6,574

Cash flows from operating activities of continuing operations:

$ 233

$ 393

4,833

$ (143)

$ (438)

(1,279)

$ (407)

$ (847)

$ 45

$ 44

2,974

(1,163)

643

Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:

2,974

(1,163)

643

Changes in operating assets and liabilities, excluding effects from acquisition:

$ (797)

$ 797

Accounts payable, accrued restructuring and accrued expenses

219

(234)

500

(649)

(3,708)

Net cash provided by (used in) operating activities of continuing operations

749

659

Cash flows from financing activities of continuing operations:

Net cash used in financing activities of continuing operations

(51)

(47)

(39)

$ (51)

$ (47)

$ (39)

[1]	As Restated

Cash Used for Operating Activities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Other Significant Noncash Transactions [Line Items]
Cash paid for interest	$ 26	$ 4	$ 50	$ 116
Cash paid for income taxes	$ 3,538	$ 5,419	$ 4,539	$ 9,898

Statement of Cash Flows Supplemental Information - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of nonvested shares	0.1	0.3	0.2	0.1
Value of nonvested shares issued	$ 0.6	$ 1.9	$ 2.0	$ 0.8

Summarized Financial Information of Company's Continuing Operations by Operating Segment (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jul. 31, 2012

Apr. 30, 2012

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

$ 177,094

$ 178,565

$ 178,324

$ 205,908

$ 198,688

$ 206,579

$ 233,212

$ 235,271

$ 226,760

$ 212,379

$ 234,034

$ 245,273

$ 739,891

$ 873,748

^[1]

$ 918,445

^[1]

$ 1,001,980

^[1]

(7,038)

6,945

445

1,206

(23,582)

685

(24,158)

2,912

8,412

13,902

(18,774)

(21,247)

^[1]

(12,969)

^[1]

(159,510)

^[1]

(6,692)

(4,759)

(4,881)

(3,389)

(3,686)

(4,464)

(2,981)

(3,517)

(3,836)

(3,704)

(27,119)

(16,419)

^[1]

(14,038)

^[1]

(14,100)

^[1]

(23,365)

(10,984)

(13,730)

2,186

(4,436)

(2,183)

(27,268)

(3,779)

(27,139)

(605)

4,576

10,198

(45,893)

(37,666)

^[1]

(12,969)

^[1]

(173,610)

^[1]

Total operating loss

(23,365)

(10,984)

(13,730)

2,186

(4,436)

(2,183)

(27,268)

(3,779)

(27,139)

(605)

4,576

10,198

(45,893)

(37,666)

^[1]

(12,969)

^[1]

(173,610)

^[1]

(3,552)

(3,748)

(4,474)

(4,140)

(4,209)

(4,010)

(4,214)

(4,230)

(4,239)

(4,237)

(14,057)

(16,833)

^[1]

(16,918)

^[1]

(20,057)

^[1]

564

830

(2,878)

5,083

(776)

2,921

437

(1,448)

(1,216)

(1,165)

10,329

4,350

^[1]

(3,392)

^[1]

(15,068)

^[1]

(332)

(1,037)

(1,062)

(1,679)

(1,680)

(1,657)

(1,599)

(1,372)

(1,279)

(5,457)

^[1]

(6,308)

^[1]

(5,485)

^[1]

(3,035)

(819)

^[1]

(5,162)

^[1]

(10,831)

^[1]

(27,166)

(25,800)

(2,062)

(27,166)

^[1]

(25,800)

^[1]

(164,682)

^[1]

670

(91)

(104)

(45)

(2,334)

(29)

491

(330)

^[1]

(2,318)

^[1]

126

^[1]

(998)

(882)

(861)

(722)

(994)

(903)

(857)

(900)

(1,325)

(1,072)

(2,990)

(3,481)

^[1]

(4,154)

^[1]

(5,103)

^[1]

$ (20,240)

$ (6,136)

(12,876)

1,145

(4,451)

1,478

(29,280)

(2,212)

(26,867)

(5,329)

1,157

7,197

(38,108)

(34,465)

^[1]

(23,841)

^[1]

(199,383)

^[1]

(4,597)

(755)

406

(412)

(789)

1,858

(836)

(75)

(7,455)

(795)

965

^[1]

(19,341)

^[1]

Adjusted [Member]

1,719

12,023

5,789

6,624

10,228

7,468

5,986

9,928

14,864

20,063

7,235

30,109

^[1]

50,840

^[1]

51,917

^[1]

(5,970)

(4,120)

(4,259)

(2,883)

(3,036)

(3,866)

(2,432)

(2,910)

(3,143)

(3,109)

(25,285)

(14,043)

^[1]

(11,594)

^[1]

(10,859)

^[1]

(4,251)

7,903

1,530

3,741

7,192

3,602

3,554

7,018

11,721

16,954

(18,050)

16,066

^[1]

39,246

^[1]

41,058

^[1]

Total operating loss

(4,251)

7,903

1,530

3,741

7,192

3,602

3,554

7,018

11,721

16,954

(18,050)

16,066

^[1]

39,246

^[1]

41,058

^[1]

(14,057)

(16,833)

^[1]

(16,918)

^[1]

(20,057)

^[1]

(1,279)

(5,457)

^[1]

(6,308)

^[1]

(5,485)

^[1]

(2,062)

(27,166)

^[1]

(25,800)

^[1]

(164,682)

^[1]

(2,990)

(3,481)

^[1]

(4,154)

^[1]

(5,103)

^[1]

(7,455)

(795)

^[1]

965

^[1]

(19,341)

^[1]

59,498

69,511

68,926

70,652

76,104

80,680

79,516

72,840

75,745

79,452

249,940

296,362

^[1]

307,552

^[1]

327,455

^[1]

(3,084)

(120)

(4,808)

(3,318)

(18,165)

(3,693)

(16,287)

(4,934)

(3,523)

(1,509)

(14,108)

(29,984)

^[1]

(26,253)

^[1]

(98,896)

^[1]

Americas [Member] | Adjusted [Member]

(4,300)

(5,200)

(5,400)

(7,000)

(1,272)

1,326

(3,113)

(1,673)

(54)

(1,189)

(1,289)

(2,201)

(921)

768

(7,675)

(6,029)

^[1]

(3,644)

^[1]

(6,935)

^[1]

51,125

60,739

57,003

56,934

62,570

57,219

61,073

59,763

68,077

73,680

218,880

233,724

^[1]

262,594

^[1]

296,756

^[1]

4,513

9,292

9,879

6,741

8,000

4,548

7,698

10,980

13,865

14,820

21,450

29,168

^[1]

47,364

^[1]

(34,790)

^[1]

Asia [Member] | Adjusted [Member]

(4,400)

(4,600)

(5,000)

(5,700)

5,795

10,965

11,342

8,363

9,889

6,561

9,251

12,776

15,630

16,604

26,811

36,155

^[1]

54,261

^[1]

49,472

^[1]

50,710

57,605

57,056

63,444

77,552

77,012

66,440

61,831

75,637

79,677

211,319

275,065

^[1]

283,584

^[1]

333,181

^[1]

(7,177)

(1,688)

(3,606)

(2,425)

(60)

(90)

(1,011)

(1,931)

(1,649)

(274)

(15,718)

(6,181)

^[1]

(4,865)

^[1]

(27,944)

^[1]

Europe [Member] | Adjusted [Member]

(4,500)

(6,000)

(5,700)

(6,500)

(2,225)

(296)

(1,997)

(825)

1,632

1,388

(1,161)

(202)

(286)

1,330

(6,061)

198

^[1]

(319)

^[1]

4,541

^[1]

8,888

8,079

5,528

6,415

7,782

9,746

10,007

8,937

4,768

25,944

29,471

^[1]

23,712

^[1]

TFL [Member] | Adjusted [Member]

(1,211)

(1,395)

(1,292)

(275)

(13,567)

(1,004)

(11,510)

(307)

(427)

(11,032)

(16,139)

^[1]

(12,244)

^[1]

(988)

(1,315)

(1,212)

(197)

(1,951)

(666)

(1,003)

(23)

(200)

(8,781)

(4,026)

^[1]

(1,226)

^[1]

8,103

9,974

10,175

9,134

9,204

10,614

9,724

9,008

9,807

12,464

33,808

39,126

^[1]

41,003

^[1]

44,588

^[1]

(79)

856

272

483

210

924

(3,048)

(896)

146

865

634

1,889

^[1]

(2,933)

^[1]

2,120

^[1]

All Other [Member] | Adjusted [Member]

(800)

(900)

(800)

(900)

Segment Reporting, Asset Reconciling Item [Line Items]

$ 409

$ 1,343

$ 769

$ 956

$ 712

$ 1,374

$ 188

$ (422)

$ 641

$ 1,361

$ 2,941

$ 3,811

^[1]

$ 1,768

^[1]

$ 4,839

^[1]

[1]	As Restated

Summarized Financial Information of Company's Corporate-level Activity (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

$ 342,571

$ 411,100

$ 459,771

$ 402,800

$ 411,979

$ 431,282

$ 501,044

$ 486,594

$ 491,405

$ 503,090

$ 537,619

Corporate-Level Activity [Member]

358,882

430,195

479,017

422,247

434,462

469,517

539,514

525,941

530,771

543,698

577,215

Segment Reporting, Asset Reconciling Item [Line Items]

16,311

19,095

19,246

19,447

22,483

38,235

38,470

39,347

39,366

40,608

39,596

Segment Reporting, Asset Reconciling Item [Line Items]

101,931

122,186

122,561

121,481

144,782

155,889

162,680

186,643

180,193

174,084

179,427

Segment Reporting, Asset Reconciling Item [Line Items]

111,660

144,986

171,023

125,059

101,399

106,679

125,001

113,820

121,990

140,187

179,340

Segment Reporting, Asset Reconciling Item [Line Items]

105,472

113,475

124,537

120,422

133,185

134,957

152,485

135,135

128,143

128,120

138,456

Segment Reporting, Asset Reconciling Item [Line Items]

2,750

9,504

12,851

11,029

7,806

7,747

22,942

23,256

32,874

31,942

Segment Reporting, Asset Reconciling Item [Line Items]

$ 20,758

$ 20,949

$ 28,799

$ 24,809

$ 24,807

$ 26,010

$ 37,936

$ 27,740

$ 28,205

$ 28,757

$ 40,396

[1]	As Restated

SEGMENT INFORMATION - Additional Information (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

$ 342,571

$ 402,800

^[1]

$ 486,594

^[1]

$ 411,100

$ 459,771

$ 411,979

$ 431,282

$ 501,044

$ 491,405

$ 503,090

$ 537,619

percentage of long-lived assets located

63.00%

60.00%

73.00%

$ 101,931

$ 121,481

^[1]

$ 186,643

^[1]

122,186

122,561

144,782

155,889

162,680

180,193

174,084

179,427

percentage of long-lived assets located

18.00%

12.00%

$ 111,660

$ 125,059

^[1]

$ 113,820

^[1]

144,986

171,023

101,399

106,679

125,001

121,990

140,187

179,340

percentage of long-lived assets located

19.00%

22.00%

15.00%

$ 105,472

$ 120,422

^[1]

$ 135,135

^[1]

$ 113,475

$ 124,537

$ 133,185

$ 134,957

$ 152,485

$ 128,143

$ 128,120

$ 138,456

Singapore [Member]

9,200

10,700

10,100

Ireland [Member]

4,800

7,100

6,800

Netherlands [Member]

Company generated revenue

3,300

5,400

5,600

107,000

124,000

132,700

$ 161,000

China [Member]

Company generated revenue

2,300

4,100

3,600

144,100

142,200

175,500

$ 199,700

Czech Republic [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

$ 3,400

$ 3,700

$ 3,600

[1]	As Restated

Recorded Income (Loss) From Discontinued Operations (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2012

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

$ 670

^[1]

$ (91)

^[1]

$ (91)

^[1]

$ (104)

^[1]

$ (45)

^[1]

$ (2,334)

^[1]

$ (29)

^[1]

$ 45

^[1]

$ 491

$ (330)

^[1]

$ (2,318)

^[1]

$ 126

^[1]

[1]	As Restated

Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

Summarized Financial Information for the Discontinued Operations (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2012

^[1]

Jul. 31, 2011

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

^[1]

Oct. 31, 2011

^[1]

Results of operations:

^[1]

Other income

586

126

Total expenses

(95)

(330)

^[1]

(2,318)

^[1]

Net liabilities of discontinued operations

$ 670

$ (91)

^[1]

$ (91)

$ (104)

$ (45)

$ (2,334)

$ (29)

$ 45

491

(330)

^[1]

(2,318)

^[1]

$ 126

Financial position:

Current assets

Current liabilities

(1,452)

(1,817)

^[1]

(1,686)

(1,792)

(1,992)

(1,602)

(1,666)

(1,528)

(1,817)

^[1]

(1,791)

^[1]

$ (1,817)

Non-current liabilities

$ (983)

(1,883)

^[1]

$ (2,241)

$ (2,587)

$ (2,929)

$ (3,575)

$ (2,057)

$ (2,235)

(293)

(1,883)

^[1]

(3,289)

^[1]

$ (1,623)

$ (3,700)

$ (1,821)

$ (3,700)

$ (5,080)

[1]	As Restated

Property and equipment at cost (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Buildings

^[1]

$ 20,299

$ 23,833

$ 20,350

Machinery and equipment

^[1]

18,565

22,122

24,245

Leasehold improvements

^[1]

18,482

18,321

18,389

Software

^[1]

40,461

39,743

37,970

Property and equipment, gross

^[1]

5,449

7,078

6,634

^[1]

103,256

111,097

107,588

Less: Accumulated depreciation and amortization

^[1]

(62,484)

(63,694)

(54,527)

Net property and equipment, at cost

^[1]

$ 40,772

$ 43,493

$ 44,807

$ 47,403

$ 50,052

$ 50,072

$ 52,353

$ 53,061

$ 55,025

$ 56,529

$ 59,134

[1]	As Restated

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

Property and Equipment at Stock (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Less: Accumulated amortization

Buildings

^[1]

$ 20,299

$ 23,833

$ 20,350

Machinery and equipment

^[1]

18,565

22,122

24,245

(51,713)

(49,911)

(30,437)

Net property and equipment, at cost

^[1]

40,772

$ 43,493

$ 44,807

47,403

$ 50,052

$ 50,072

$ 52,353

53,061

$ 55,025

$ 56,529

$ 59,134

Capital Lease [Member]

Buildings

^[1]

3,734

Machinery and equipment

^[1]

445

449

411

Less: Accumulated amortization

^[1]

^[1]

(275)

(284)

(3,937)

Net property and equipment, at cost

^[1]

$ 170

$ 211

$ 254

[1]	As Restated

Property and Equipment - Additional Information (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

$ 3,552

$ 3,748

$ 4,474

$ 4,140

$ 4,209

$ 4,010

$ 4,214

$ 4,230

$ 4,239

$ 4,237

$ 14,057

$ 16,833

^[1]

$ 16,918

^[1]

$ 20,057

^[1]

4,300

5,200

5,400

7,000

4,400

4,600

5,000

5,700

4,500

6,000

5,700

6,500

100

$ 800

$ 900

$ 800

$ 900

[1]	As Restated

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 30, 2012

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Intangible assets impairment charge

$ 13,200

$ 13,149

$ 25,800

$ 164,700

14,000

Goodwill relates to the e-Business reporting unit

3,058

^[1]

16,207

^[1]

$ 25,708

$ 3,058

$ 16,207

$ 42,007

$ 25,708

Control premium

35.00%

Amortization expense for intangible assets

1,300

5,500

6,300

$ 5,500

Goodwill relates to the e-Business reporting unit

$ 7,050

12,801

74,600

7,050

19,851

73,900

Business Reporting Unit [Member]

$ 16,100

Goodwill relates to the e-Business reporting unit

2,800

3,100

ModusLink PTS [Member]

Intangible assets impairment charge

7,100

12,800

8,800

Intangible assets impairment charge

$ 900

6,100

$ 10,200

500

5,200

Fixed assets impairment charge

$ 400

Kildare [Member]

Fixed assets impairment charge

$ 1,100

[1]	As Restated

Changes in Carrying Amount of Goodwill Allocated to the Company's Operating Segments (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 30, 2012

^[1]

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

$ 220,689

$ 204,390

(217,631)

(204,482)

(178,682)

Goodwill from the acquisition of TFL

$ 3,058

3,058

^[1]

16,207

^[1]

25,708

16,299

(13,200)

(13,149)

(25,800)

$ (164,700)

220,689

204,390

(217,631)

(204,482)

(178,682)

3,058

^[1]

16,207

^[1]

25,708

94,477

(94,477)

(87,427)

(74,626)

7,050

19,851

(7,050)

(12,801)

(74,600)

94,477

(94,477)

(87,427)

(74,626)

7,050

19,851

73,948

(73,948)

(73,900)

73,948

(73,948)

30,108

(30,108)

(16,100)

30,108

(30,108)

16,299

(16,299)

(10,200)

Goodwill from the acquisition of TFL

6,099

16,299

(6,099)

(10,200)

16,299

(16,299)

(10,200)

6,099

5,857

(2,799)

3,058

5,857

(2,799)

5,857

(2,799)

$ 3,058

$ 5,857

[1]	As Restated

Components of Intangible Assets (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

$ 54,610

51,713

49,911

$ 30,437

Client Relationships [Member]

2,897

4,699

^[1]

24,173

^[1]

$ 4,029

$ 4,360

$ 5,736

$ 6,798

$ 22,495

$ 25,852

$ 27,509

$ 21,748

34,500

32,847

32,215

21,503

Developed Technology [Member]

1,653

2,285

12,997

13,992

12,990

12,211

5,638

1,002

1,781

8,354

Trade Names [Member]

5,405

5,174

4,801

2,800

231

604

2,605

Non-Competes [Member]

713

702

684

496

Minimum [Member] | Client Relationships [Member]

$ 11

$ 29

$ 217

Minimum [Member] | Developed Technology [Member]

7 years

Minimum [Member] | Trade Names [Member]

3 years

Minimum [Member] | Non-Competes [Member]

3 years

Maximum [Member] | Client Relationships [Member]

1 year

Maximum [Member] | Developed Technology [Member]

7 years

10 years

Maximum [Member] | Trade Names [Member]

7 years

8 years

Maximum [Member] | Non-Competes [Member]

7 years

8 years

5 years

[1]	As Restated

Estimated Annual Amortization Expense for Intangible Assets (Detail) $ in Thousands	Jul. 31, 2012 USD ($)
Finite And Indefinite Lived Intangible Assets [Line Items]
2013	$ 1,133
2014	1,098
2015	$ 666

Schedule of Restructuring Accruals (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

^[1]

$ 1,464

$ 3,632

$ 16,644

$ 9,911

7,755

1,099

744

21,761

(300)

(304)

(1,709)

(2,420)

(7,259)

(3,007)

(12,324)

(11,928)

277

(680)

Employee Related Expenses [Member]

1,724

1,464

^[1]

3,632

^[1]

16,644

^[1]

^[1]

296

181

6,842

1,848

6,218

1,099

16,292

(439)

(612)

(2,858)

(5,405)

(1,081)

(6,103)

(8,378)

(44)

(62)

Contractual Obligations [Member]

626

296

^[1]

181

^[1]

6,842

^[1]

^[1]

1,168

3,451

9,802

8,063

1,537

690

5,080

139

(357)

(1,097)

438

(1,854)

(1,926)

(6,221)

(3,550)

108

277

(229)

Asset Impairments [Member]

$ 1,098

$ 1,168

^[1]

$ 3,451

^[1]

9,802

^[1]

389

$ (389)

[1]	As Restated

Amount of any reversal and other adjustment made during the period to the amount of a previously accrued liability for a specified type of restructuring cost, excluding adjustments for costs incurred during the period, costs settled during the period, and foreign currency translation adjustments.

RESTRUCTURING - Additional Information (Detail)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2012

USD ($)

^[1]

Oct. 31, 2011

USD ($)

^[1]

Jul. 31, 2011

USD ($)

^[1]

Jan. 31, 2011

USD ($)

^[1]

Oct. 31, 2010

USD ($)

^[1]

Jul. 31, 2010

USD ($)

^[1]

Apr. 30, 2010

USD ($)

^[1]

Jan. 31, 2010

USD ($)

^[1]

Oct. 31, 2009

USD ($)

^[1]

Jul. 31, 2012

USD ($)

Employees

Jul. 31, 2011

USD ($)

Employees

Jul. 31, 2010

USD ($)

Jul. 31, 2009

USD ($)

Employees

Jul. 31, 2008

USD ($)

Set off of restructuring charges

$ 4,597

$ 755

$ (406)

$ 412

$ 789

$ (1,858)

$ 836

$ (18)

$ 75

$ 7,455

$ 795

$ (965)

^[1]

$ 19,341

^[1]

Contractual obligation

1,500

2,400

Other Comprehensive Income (Loss) [Member]

(300)

(304)

(1,709)

(2,420)

Reduction of Workforce [Member]

200

$ 300

6,200

1,200

$ 15,800

Changes in Lease Obligations [Member]

550

Facility Closing [Member]

$ 300

$ (400)

Impairment of fixed assets

$ 5,600

400

357

$ (94)

$ (303)

367

165

357

$ (56)

$ (7)

(108)

(163)

357

$ (85)

$ 6

$ (1,929)

$ (2,422)

[1]	As Restated

Net Restructuring Charges (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

^[1]

Jul. 31, 2009

^[1]

$ 4,597

$ 755

$ (406)

$ 412

$ 789

$ (1,858)

$ 836

$ (18)

$ 75

$ 7,455

$ 795

$ (965)

$ 19,341

Cost of revenue [Member]

Selling, general and administrative [Member]

3,960

437

(838)

14,220

$ 3,495

$ 358

$ (127)

$ 5,121

[1]	As Restated

Restructuring Accrual by Operating Segment (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

^[1]

$ 1,464

$ 3,632

$ 16,644

$ 9,911

7,755

1,099

744

21,761

(300)

(304)

(1,709)

(2,420)

(7,259)

(3,007)

(12,324)

(11,928)

277

(680)

1,724

1,464

^[1]

3,632

^[1]

16,644

^[1]

^[1]

1,346

3,148

7,636

4,437

1,706

501

468

7,660

(94)

(303)

367

165

(1,933)

(1,993)

(5,600)

(3,946)

(7)

277

(680)

1,086

1,346

^[1]

3,148

^[1]

7,636

^[1]

^[1]

410

174

702

593

2,204

(56)

(7)

(108)

(163)

(647)

(586)

(345)

(1,805)

^[1]

410

^[1]

118

484

7,734

5,056

3,766

222

11,001

(85)

(1,929)

(2,422)

(3,690)

(428)

(5,543)

(5,901)

(58)

$ 118

^[1]

484

^[1]

7,734

^[1]

1,039

(855)

244

^[1]

404

542

644

(65)

(12)

(134)

(392)

(240)

Corporate-Level Activity [Member]

$ 343

404

^[1]

^[1]

460

244

252

(27)

$ (444)

(36)

Investment In Unconsolidated Affiliates [Line Items]

^[1]

$ 460

[1]	As Restated

@Ventures Investments - Additional Information (Detail)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 30, 2012

USD ($)

Jul. 31, 2012

USD ($)

Company

Jul. 31, 2011

USD ($)

Jul. 31, 2010

USD ($)

Jul. 31, 2009

USD ($)

Impairment charges

$ 67

^[1]

$ 975

@Ventures [Member]

Investment In Unconsolidated Affiliates [Line Items]

Investments privately held companies

$ 2,900

3,500

$ 3,400

9,500

Impairment charges

$ 2,800

2,900

2,500

300

16,800

Distributions received by ventures

200

1,300

18,000

Share of loss from investment in affiliates

$ 1,200

1,800

Equity in income of affiliates

$ 200

Number of Investment Portfolios | Company

Obligation for follow on Investment

$ 1,000

@Ventures [Member] | Maximum [Member]

Investment In Unconsolidated Affiliates [Line Items]

Company's voting interest

50.00%

@Ventures [Member] | Minimum [Member]

Investment In Unconsolidated Affiliates [Line Items]

Company's voting interest

20.00%

@Ventures [Member] | Nominal Investments [Member]

Investment In Unconsolidated Affiliates [Line Items]

Number of Investment Portfolios | Company

@Ventures [Member] | Obligation for Follow on Investment [Member]

Investment In Unconsolidated Affiliates [Line Items]

Number of Investment Portfolios | Company

@Ventures [Member] | Not Available For Sale [Member] | Maximum [Member]

Investment In Unconsolidated Affiliates [Line Items]

Company's interest on Investment

20.00%

@Ventures [Member] | Privately Held Companies [Member]

Investment In Unconsolidated Affiliates [Line Items]

Carrying value of investment

$ 10,800

$ 12,000

$ 13,000

[1]	As Restated

Components of Other Current Liabilities (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Other Liabilities Current [Line Items]

Accrued Pricing Liabilities

$ 20,397

$ 30,706

$ 42,282

6,381

7,918

5,367

$ 26,778

$ 39,489

$ 39,765

$ 38,624

$ 39,228

$ 44,641

$ 43,230

$ 47,649

$ 46,265

$ 46,068

$ 43,766

[1]	As Restated

Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed.

Other Liabilities Current [Line Items]

OTHER CURRENT LIABILITIES - Additional Information (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Accrued Pricing Liabilities

$ 20,397

$ 30,706

^[1]

$ 42,282

^[1]

[1]	As Restated

Schedule of Other Gains (Losses) (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

^[1]

Jul. 31, 2010

Jul. 31, 2009

Derecognition of accrued pricing liabilities

$ 11,811

$ 13,545

$ 0

Foreign currency exchange gains (losses)

2,948

(4,023)

(977)

(1,560)

Gain on sale of investments

187

425

3,956

Impairment of investment

(67)

(975)

Loss on disposal of assets

(7)

(14)

(264)

(308)

Other, net

(330)

(746)

(172)

(293)

Other Operating Income (Expense), Net, Total

$ 14,431

$ 8,882

$ (988)

$ 820

[1]	As Restated

The amount by which the fair value of an investment is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 35
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=16383099&loc=d3e25351-111560

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15C
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 16B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-2/124-2
-Paragraph 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

OTHER GAINS (LOSSES), NET - Additional Information (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

De recognition of accrued pricing liabilities

$ 11,811

$ 13,545

^[1]

$ 0

Foreign exchange gains (losses)

2,900

(4,000)

(1,000)

(1,600)

Gain on investments

$ 9

187

^[1]

425

3,956

100

$ 100

Loss on disposal of assets

300

write-off of an investment

1,000

H2gen Innovations Inc And M2e Power Inc [Member]

300

Virtual Ink Inc [Member]

Foodbuy Limited Liability Company[Member]

$ 100

Generations Network Incorporation [Member]

2,600

Avamar Technologies Incorporation [Member]

900

Line of Credit Facility [Line Items]

$ 500

[1]	As Restated

BORROWING ARRANGEMENTS - Additional Information (Detail)
$ in Millions

12 Months Ended

Jul. 31, 2012

USD ($)

Loan and Security Agreement expiration date

Oct. 31, 2012

^[1]

Credit facility agreement

$ 1.0

Credit facility outstanding

34.0

Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Secured revolving credit facility initial aggregate principal amount

40.0

Permitted increase in aggregate principal amount

$ 20.0

Loan and Security Agreement expiration date

Jan. 31, 2010

Credit facility amendment date

Aug. 16, 2012

borrowings outstanding

$ 0.0

letters of credit outstanding amount

$ 0.2

[1]	As Restated

Future Annual Minimum Payments, Including Restructuring Related Obligations (Detail) $ in Thousands	Jul. 31, 2012 USD ($)
Commitments And Contingencies Disclosure [Line Items]
2013	$ 26,371
2014	16,601
2015	11,536
2016	6,543
2017	4,276
Thereafter	12,884
Future Minimum Payments Due, Total	78,211
Operating Leases [Member]
Commitments And Contingencies Disclosure [Line Items]
2013	23,893
2014	14,971
2015	9,922
2016	6,528
2017	4,271
Thereafter	12,884
Future Minimum Payments Due, Total	72,469
Stadium Obligation [Member]
Commitments And Contingencies Disclosure [Line Items]
2013	2,400
2014	1,600
2015	1,600
Future Minimum Payments Due, Total	5,600
Capital Lease Obligations [Member]
Commitments And Contingencies Disclosure [Line Items]
2013	78
2014	30
2015	14
2016	15
2017	5
Future Minimum Payments Due, Total	$ 142

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2012 USD ($) yr	Jul. 31, 2011 USD ($)	Jul. 31, 2010 USD ($)	Jul. 31, 2009 USD ($)
Schedule Of Leased Assets [Line Items]
Future minimum sublease rentals	$ 87
Total rent and equipment lease expense charged to continuing operations	26,500	$ 29,200	$ 29,100	$ 31,100
Annual lease payments per year	$ 1,600
Number of purported class actions filed following the announcement \| yr	3
Vendor Agreements [Member]
Schedule Of Leased Assets [Line Items]
Outstanding obligations	$ 0
Naming and Sponsorship of New England Patriots [Member]
Schedule Of Leased Assets [Line Items]
Sponsorship rights period	Fifteen years

SHARE-BASED PAYMENTS - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2012 USD ($) yr $ / shares shares	Jul. 31, 2011 USD ($) $ / shares shares	Jul. 31, 2010 USD ($) $ / shares shares	Dec. 31, 2009 shares	Jul. 31, 2009 USD ($) $ / shares shares	Jul. 31, 2002 shares	Dec. 08, 2010 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable rate of options granted	25.00%
2010 Plan number of shares pursuant to stock options granted	1,252,000
Common stock purchase price as a percentage of market value	85.00%
Weighted-average grant date fair value of employee stock options granted \| $ / shares	$ 1.98	$ 2.97	$ 3.73		$ 3.22
Unrecognized share-based compensation \| $	$ 2,000
Weighted average period of stock options \| yr	1.9
Intrinsic value of options exercised \| $		$ 10	$ 100		$ 0
Stock options vested and expected to vest	2,600,000
Aggregate intrinsic value stock options \| $	$ 5
Weighted-average remaining contractual term	4 years 2 months 23 days
Non vested stock compensation expense \| $	$ 1,600	1,600	1,500		1,900
Grant date fair value of nonvested stock \| $	2,100	$ 1,500	$ 1,900		$ 1,000
Unrecognized compensation cost related to nonvested stock \| $	$ 800
1999 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock shares available for future issuance	200,000
2005 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock shares available for future issuance	0
Common stock issued pursuant to awards granted	200,000
Plan contractual terms	10 years
Director Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares pursuant to stock options granted	20,000
Options vested exercisable ratio	0.028%
Options Held [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares pursuant to stock options granted	2,400
1995 Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock shares available for future issuance	222,000
Number of shares pursuant to stock options granted				600,000		300,000
Shares issued under plan	23,000	34,000	39,000		35,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable terms, maximum \| yr	1
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable terms, maximum \| yr	3
Stock Option Granted [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual terms ,share options granted \| yr	7
Year 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2010 Plan number of shares pursuant to stock options granted	5,000,000
2010 Plan additional shares of Common Stock							2,922,258
Common Stock shares available for future issuance	4,745,581

Summary of Share-Based Compensation Expense Related to Employee Stock Options, Employee Stock Purchases and Nonvested Shares (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Share-based compensation expense	$ 2,990	$ 3,481	$ 4,154	$ 5,103
Cost of Sales [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Share-based compensation expense	344	374	337	392
Selling, general and administrative [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Share-based compensation expense	$ 2,646	$ 3,107	$ 3,817	$ 4,711

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

Weighted-Average Grant Date Fair Value of Employee Stock Options Granted (Detail)	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Expected volatility	59.56%	62.64%	65.77%	56.64%
Risk-free interest rate	0.84%	0.99%	1.88%	2.34%
Expected term (in years)	4 years 7 months 28 days	4 years 3 months 7 days	4 years 29 days	4 years 29 days
Expected dividend yield	0.00%	0.00%	0.00%	0.00%

Status of the Plans (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 31, 2012 USD ($) $ / shares yr shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Opening Balance, shares \| shares	2,566
Granted, shares \| shares	1,252
Exercised, shares \| shares	(2)
Forfeited or expired, shares \| shares	(1,129)
Ending Balance, shares \| shares	2,687
Stock options exercisable ending balance, shares \| shares	1,289
Opening balance, weighted average exercise price \| $ / shares	$ 10.97
Granted, weighted average exercise price \| $ / shares	4.26
Exercised, weighted average exercise price \| $ / shares	3.78
Forfeited or expired, weighted average exercise price \| $ / shares	10.11
Ending balance, weighted average exercise price \| $ / shares	$ 8.20
Stock options exercisable ending balance, weighted average exercise price \| $ / shares	11.46
Ending balance, remaining contractual term \| yr	4.30
Stock options exercisable ending balance, remaining contractual term \| yr	2.61
Stock options outstanding, ending balance \| $	$ 5
Stock options exercisable, ending balance \| $	$ 5

Summary of the Status of Nonvested Stock (Detail) shares in Thousands	12 Months Ended
	Jul. 31, 2012 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested stock outstanding, beginning balance \| shares	566
Granted, shares \| shares	461
Vested, shares \| shares	(266)
Forfeited, shares \| shares	(357)
Nonvested stock outstanding, ending balance \| shares	404
Nonvested stock outstanding beginning balance, weighted average grant date fair value \| $ / shares	$ 7.93
Granted, weighted average grant date fair value \| $ / shares	2.27
Vested, weighted average grant date fair value \| $ / shares	7.77
Forfeited, weighted average grant date fair value \| $ / shares	2.29
Nonvested stock outstanding ending balance, weighted average grant date fair value \| $ / shares	$ 6.56

The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.

Stock Repurchase Program [Line Items]

Share Repurchase Programs - Additional Information (Detail) - USD ($)
$ in Thousands, shares in Millions

12 Months Ended

18 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

^[1]

Sep. 30, 2009

Jul. 31, 2009

^[1]

Jun. 30, 2010

Jun. 30, 2009

Cost of repurchase

$ 188

$ 1,633

^[1]

$ 13,521

$ 7,137

June Thirtieth Two Thousand Nine [Member]

Stock Repurchase Program [Line Items]

Repurchased number of shares

$ 15,000

1.8

Cost of repurchase

$ 15,000

June 2010 Repurchase Program [Member]

Stock Repurchase Program [Line Items]

Repurchased number of shares

$ 10,000

0.7

Cost of repurchase

$ 4,800

Special dividend declared

$ 40,000

[1]	As Restated

Income from Continuing Operations (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2012

Jul. 31, 2011

^[1]

Jul. 31, 2010

^[1]

Jul. 31, 2009

^[1]

Income (loss) from continuing operations before income taxes:

U.S.

$ (39,030)

$ (47,697)

$ (29,494)

$ (133,240)

Foreign

3,466

14,381

13,133

(55,438)

Income (loss) from continuing operations before income taxes

$ (13,166)

$ 3,016

$ (7,314)

$ 2,900

$ (28,044)

$ (858)

$ (26,702)

$ (2,053)

$ 3,360

$ 9,033

$ (35,564)

$ (33,316)

$ (16,361)

$ (188,678)

[1]	As Restated

Components of Income Tax Expense (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jul. 31, 2012

Apr. 30, 2012

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Jul. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Jul. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Jul. 31, 2012

Jul. 31, 2011

^[1]

Jul. 31, 2010

Jul. 31, 2009

^[1]

Deferred Tax Liability Not Recognized [Line Items]

Income tax expense from continuing operations

$ 3,035

$ 819

$ 5,162

^[1]

$ 10,831

Discontinued operations

Other comprehensive income

(529)

Total income tax expense

$ 1,985

$ (1,202)

$ 380

$ 1,871

$ (2,954)

$ 1,331

$ 1,132

$ 1,309

$ 165

$ 942

$ 2,174

$ 1,881

$ 3,035

$ 819

$ 5,205

$ 10,302

[1]	As Restated

Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b),(c)
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e38679-109324

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=21917399&loc=d3e32247-109318

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Tax effect of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e640-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e39076-109324

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 36
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Components of Provision for Income Taxes (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

^[1]

Jul. 31, 2010

Jul. 31, 2009

^[1]

Income tax benefit recognized in the consolidated statement of operations

$ (741,245)

Total tax provision

3,035

$ 819

$ 5,162

^[1]

$ 10,831

Current Provision [Member]

Current Income Tax Expense (Benefit), Total

Federal

^[1]

(367)

State

^[1]

185

Foreign

2,632

599

5,737

^[1]

11,942

2,632

599

5,555

^[1]

11,942

Deferred Provision [Member]

Income tax benefit recognized in the consolidated statement of operations

Federal

^[1]

State

^[1]

Foreign

403

220

(393)

^[1]

(1,111)

$ 403

$ 220

$ (393)

^[1]

$ (1,111)

[1]	As Restated

Components of Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

^[1]

Deferred tax assets:

Tax basis in excess of financial basis of investments in affiliates

$ 19,656

$ 27,677

$ 36,352

15,468

15,955

13,966

Tax basis in excess of financial basis for intangible and fixed assets

7,402

5,710

4,744

Net operating loss and capital loss carryforwards

734,078

729,616

731,747

Total gross deferred tax assets

776,604

778,958

786,809

Less: valuation allowance

(756,706)

(754,899)

(751,316)

Net deferred tax assets

19,898

24,059

35,493

Deferred tax liabilities:

Financial basis in excess of tax basis for intangible and fixed assets

(60)

(1,338)

(896)

(1,414)

(2,338)

(13,266)

Financial basis in excess of tax basis of investments in affiliates

(26)

(132)

Undistributed accumulated earnings of foreign subsidiaries

(16,587)

(18,714)

(19,499)

Total gross deferred tax liabilities

(18,061)

(22,416)

(33,793)

Net deferred tax asset (liability)

1,837

1,643

1,700

Current [Member]

Deferred tax assets:

Total gross deferred tax assets

13,015

16,615

21,417

13,015

16,615

21,417

Less: valuation allowance

(12,316)

(15,142)

(20,221)

Net deferred tax assets

699

1,473

1,196

Deferred tax liabilities:

Total gross deferred tax liabilities

(60)

(231)

(163)

(60)

(231)

(163)

Net deferred tax asset (liability)

639

1,242

1,033

Non Current [Member]

Deferred tax assets:

Tax basis in excess of financial basis of investments in affiliates

6,641

11,062

14,935

15,468

15,955

13,966

Tax basis in excess of financial basis for intangible and fixed assets

7,402

5,710

4,744

Net operating loss and capital loss carryforwards

734,078

729,616

731,747

Total gross deferred tax assets

763,589

762,343

765,392

Less: valuation allowance

(744,390)

(739,757)

(731,095)

Net deferred tax assets

19,199

22,586

34,297

Deferred tax liabilities:

Financial basis in excess of tax basis for intangible and fixed assets

(1,107)

(733)

(1,414)

(2,338)

(13,266)

Financial basis in excess of tax basis of investments in affiliates

(26)

(132)

Undistributed accumulated earnings of foreign subsidiaries

(16,587)

(18,714)

(19,499)

Total gross deferred tax liabilities

(18,001)

(22,185)

(33,630)

Net deferred tax asset (liability)

$ 1,198

$ 401

$ 667

[1]	As Restated

Tax Benefits Relating to the Valuation Allowance for Deferred Tax Assets (Detail) $ in Thousands	12 Months Ended
	Jul. 31, 2012 USD ($)
Income Taxes [Line Items]
Income tax benefit recognized in the consolidated statement of operations	$ (741,245)
Additional paid in capital	(15,461)
Deferred Tax Assets Valuation Allowance Additions	$ (756,706)

The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Deferred Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6510177

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

INCOME TAXES - Additional Information (Detail)

1 Months Ended

12 Months Ended

Oct. 17, 2011

Jul. 31, 2012

USD ($)

Jul. 31, 2011

USD ($)

Jul. 31, 2010

USD ($)

Jul. 31, 2009

USD ($)

Change in valuation allowance

$ 1,800,000

Obtained tax holiday period | yr

Stockholders changes percentage

50.00%

Ownership change period

Three-year

Percentage of outstanding shares ownership to qualify tax benefit plan

4.99%

Net operating loss carryforwards for federal tax

$ 2,000,000,000

Net operating loss carryforwards for state tax

409,400,000

Foreign net operating loss carryforward

52,800,000

Deferred tax liability

$ 18,061,000

$ 22,416,000

$ 33,793,000

^[1]

U.S. federal income tax rate

35.00%

Unrecognized tax benefits related to federal, state and foreign taxes

$ 1,230,000

$ 2,273,000

^[1]

$ 5,810,000

$ 6,243,000

Liabilities for interest expense related to uncertain tax positions

78,000

$ 130,000

$ 84,000

Unrecognized tax benefit, statute of limitations

600,000

Foreign Subsidiaries [Member]

Undistributed Earnings from Foreign Subsidiaries

62,400,000

Undistributed Earnings Reinvested

15,000,000

Deferred tax liability

16,600,000

Undistributed Earnings that are Not Considered to Be Permanently Reinvested

47,400,000

Indefinite Carryforward [Member]

Foreign net operating loss carryforward

40,000,000

Federal [Member] [Member]

Capital loss carryforwards

15,700,000

State [Member]

Capital loss carryforwards

$ 15,700,000

Maximum [Member]

Tax holiday rate

25.00%

Minimum [Member]

Tax Holiday First Two Profitable Years [Member]

Ownership Percentage

5.00%

Tax Holidays Third Profitable Year and Thereafter [Member]

Tax holiday rate

0.00%

Tax holiday rate

7.50%

[1]	As Restated

The Difference of Income Tax Expense Attributable to Income From Continuing Operations and Expense Computed Using the U.S. Federal Income Tax (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

Computed "expected" income tax expense (benefit)

$ (12,447)

$ (11,661)

^[1]

$ (5,727)

^[1]

$ (66,037)

^[1]

Increase (decrease) in income tax expense resulting from:

Losses not benefited (utilized)

11,112

11,356

^[1]

(2,424)

^[1]

13,230

^[1]

State income taxes, net of federal benefit

^[1]

120

Foreign dividends

3,298

4,041

^[1]

7,535

^[1]

8,858

^[1]

Foreign tax rate differential

1,133

(2,220)

^[1]

(1,803)

^[1]

(6,303)

^[1]

Capitalized costs

179

408

^[1]

194

^[1]

306

^[1]

Nondeductible goodwill impairment

^[1]

2,467

5,460

57,639

Non-deductible expenses

355

202

^[1]

210

^[1]

447

^[1]

Foreign withholding taxes

542

323

^[1]

1,964

^[1]

2,159

^[1]

Reversal of uncertain tax position reserves

(1,137)

(4,255)

^[1]

Actual income tax expense

^[1]

158

(367)

532

$ 3,035

$ 819

^[1]

$ 5,162

^[1]

$ 10,831

^[1]

[1]	As Restated

Reconciliation of the Beginning and Ending Balances of the Total Amounts of Gross Unrecognized Tax Benefits (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

^[1]

Jul. 31, 2010

Jul. 31, 2009

Balance as of beginning of year

$ 2,273

$ 5,810

$ 6,243

$ 6,207

Additions for current year tax positions

320

423

Additions for prior year tax positions

564

Currency translation

697

101

(189)

Settlements paid to taxing authorities

(854)

(276)

Reductions of prior year tax positions

(1,680)

(4,234)

Balance as of end of year

$ 1,230

$ 2,273

$ 5,810

$ 6,243

[1]	As Restated

Defined Benefit Pension Plans - Additional Information (Detail) $ in Millions	12 Months Ended
	Jul. 31, 2012 USD ($) CompensationPlan	Jul. 31, 2011 USD ($)	Jul. 31, 2010 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 13.6	$ 10.8	$ 8.9
Net periodic pension costs	0.1
Minimum required contributions to the plan	$ 0.8
Defined benefit plans Assets Percentage invested in bank-managed portfolios	100.00%
Current target allocations for plan assets for debt securities	100.00%
Market value of plan assets using Level 2 inputs	$ 14.1
Cumulative gains and losses in excess of the greater of the pension benefit obligation	10.00%
Netherlands [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| CompensationPlan	2
Taiwan [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| CompensationPlan	1

Aggregate Change in Benefit Obligation and Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at end of year	$ 17,159	$ 13,791	$ 11,441
Benefit obligation at beginning of year	13,791	11,441
Fair value of plan assets at beginning of year	15,652	12,265
Fair value of plan assets at end of year	14,151	15,652	12,265
Service cost	368	365	339	$ 711
Interest cost	589	617	510	634
Net amount recognized in statement of financial position as a non-current asset (liability)	(3,013)	1,857	823
Change In Benefit Obligation [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at end of year		13,791	11,441	11,224
Benefit obligation at beginning of year	13,791	11,441	11,224
Service cost	368	365	339
Interest cost	589	617	510
Actuarial (gain) loss	4,300	192	266
Employee contributions	328	390	385
Benefits and administrative expenses paid	(404)	(184)	(610)
Amendments			(82)
Transfers		1
Effect of Curtailment		(228)
Currency translation	(1,813)	1,197	(591)
Change In Plan Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of year	15,652	12,265	10,615
Fair value of plan assets at end of year		15,652	12,265	$ 10,615
Actual return on plan assets	276	597	271
Employee contributions	328	390	385
Employee contributions	498	1,300	1,839
Benefits and administrative expenses paid	(404)	(180)	(155)
Transfers		1
Currency translation	(2,199)	1,279	(690)
Fair Value Of Plan Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Assets	37	2,886	1,940
Current liability	(1)	(1)	(1)
Noncurrent liability	$ (3,049)	$ (1,028)	$ (1,116)

Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 2,064	$ 2,047	$ 1,991
Accumulated benefit obligation	1,290	1,241	1,171
Fair value of plan assets	$ 1,024	$ 1,018	$ 875

Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 368	$ 365	$ 339	$ 711
Interest costs	589	617	510	634
Expected return on plan assets	(473)	(477)	(462)	(546)
Amortization of net actuarial loss	(88)	(114)	(144)	(135)
Net periodic pension costs	$ 396	$ 391	$ 243	$ 664

An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 30
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512136

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512171

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time.

The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Service Cost (Component of Net Periodic Pension Cost)
-URI http://asc.fasb.org/extlink&oid=6525008

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a, h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Accounts, Notes, Loans and Financing Receivable [Line Items]

Weighted-Average Assumptions Used to Determine Benefit Obligations (Detail) - Benefit Obligations [Member]	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.95%	5.50%	5.50%
Rate of compensation increase	2.12%	2.00%	2.00%

Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost (Detail) - Pension Plans [Member]	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.50%	5.50%	5.50%	6.25%
Expected long-term rate of return on plan assets	3.34%	3.50%	4.25%	4.75%
Rate of compensation increase	2.00%	2.00%	2.00%	2.50%

Summary of Expected Benefit Payments from the Plans Through Fiscal 2022 (Detail) $ in Thousands	Jul. 31, 2012 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2013	$ 55
2014	62
2015	90
2016	141
2017	172
Next 5 years	$ 1,309

Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
Comprehensive Income (Detail) - USD ($) $ in Thousands	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2009
Accumulated Other Comprehensive Income Loss [Line Items]
Net unrealized holding gains (losses) on securities	$ (26)	$ (26)	$ 47	$ (51)
Cumulative foreign currency translation adjustment	12,702	23,352	12,008	11,919
Pension adjustments	(1,235)	2,310	2,182	2,437
Accumulated other comprehensive income	$ 11,441	$ 25,636	$ 14,237	$ 14,305

Comprehensive Income - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2012	Jul. 31, 2011	Jul. 31, 2010
Accumulated Other Comprehensive Income Loss [Line Items]
Taxes related to comprehensive income	$ 0.1	$ 0.1	$ 0.1

Allowance for Doubtful Accounts (Detail) - USD ($)
$ in Thousands

12 Months Ended

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

Jan. 31, 2012

^[1]

Oct. 31, 2011

^[1]

Apr. 30, 2011

^[1]

Jan. 31, 2011

^[1]

Oct. 31, 2010

^[1]

Apr. 30, 2010

^[1]

Jan. 31, 2010

^[1]

Oct. 31, 2009

^[1]

Balance at beginning of year

$ 473

$ 919

$ 3,767

$ 2,358

Additions

144

141

1,699

Deductions

(144)

(590)

(2,989)

(290)

Balance at end of year

$ 344

$ 473

^[1]

$ 919

^[1]

$ 3,767

$ 353

$ 332

$ 777

$ 1,027

$ 994

$ 879

$ 1,257

$ 1,154

[1]	As Restated

Selected Quarterly Financial Information (Consolidated Statements of Operations) (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Jul. 31, 2012

Apr. 30, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2012

Jul. 31, 2011

Jul. 31, 2010

Jul. 31, 2009

$ 177,094

$ 178,565

$ 178,324

^[1]

$ 205,908

^[1]

$ 198,688

^[1]

$ 206,579

^[1]

$ 233,212

^[1]

$ 235,271

^[1]

$ 226,760

^[1]

$ 212,379

^[1]

$ 234,034

^[1]

$ 245,273

^[1]

$ 739,891

$ 873,748

^[1]

$ 918,445

^[1]

$ 1,001,980

^[1]

169,477

163,146

162,518

^[1]

180,437

^[1]

181,103

^[1]

186,912

^[1]

210,765

^[1]

214,031

^[1]

203,692

^[1]

189,096

^[1]

203,960

^[1]

210,670

^[1]

675,579

792,809

^[1]

807,416

^[1]

886,144

^[1]

7,617

15,419

15,806

^[1]

25,471

^[1]

17,585

^[1]

19,667

^[1]

22,447

^[1]

21,240

^[1]

23,068

^[1]

23,283

^[1]

30,074

^[1]

34,603

^[1]

64,312

80,939

^[1]

111,029

^[1]

115,836

^[1]

24,607

^[1]

22,198

^[1]

21,390

^[1]

20,788

^[1]

20,458

^[1]

22,551

^[1]

24,585

^[1]

21,395

^[1]

23,917

^[1]

22,958

^[1]

99,409

85,187

^[1]

92,855

^[1]

99,938

^[1]

332

^[1]

332

^[1]

1,037

^[1]

1,062

^[1]

1,679

^[1]

1,679

^[1]

1,680

^[1]

1,657

^[1]

1,599

^[1]

1,372

^[1]

1,279

5,457

^[1]

6,308

^[1]

5,485

^[1]

27,166

^[1]

25,800

^[1]

2,062

27,166

^[1]

25,800

^[1]

164,682

^[1]

4,597

^[1]

755

^[1]

(406)

^[1]

412

^[1]

789

^[1]

(1,858)

^[1]

836

^[1]

(18)

^[1]

7,455

795

^[1]

(965)

^[1]

19,341

^[1]

30,982

26,403

29,536

^[1]

23,285

^[1]

22,021

^[1]

21,850

^[1]

49,715

^[1]

25,019

^[1]

50,207

^[1]

23,888

^[1]

25,498

^[1]

24,405

^[1]

110,205

118,605

^[1]

123,998

^[1]

289,446

^[1]

30,982

26,403

29,536

^[1]

23,285

^[1]

22,021

^[1]

21,850

^[1]

49,715

^[1]

25,019

^[1]

50,207

^[1]

23,888

^[1]

25,498

^[1]

24,405

^[1]

110,205

118,605

^[1]

123,998

^[1]

289,446

^[1]

122

^[1]

122

^[1]

121

^[1]

380

238

^[1]

298

^[1]

1,493

^[1]

(98)

^[1]

(90)

^[1]

(105)

^[1]

(110)

^[1]

(122)

^[1]

(125)

^[1]

(148)

^[1]

(133)

^[1]

(161)

^[1]

(131)

^[1]

(373)

(462)

^[1]

(573)

^[1]

(816)

^[1]

Other gains (losses)

830

^[1]

1,225

^[1]

(726)

^[1]

5,532

^[1]

(372)

^[1]

4,447

^[1]

744

^[1]

(1,153)

^[1]

(289)

^[1]

(291)

^[1]

14,431

8,882

^[1]

(988)

^[1]

820

^[1]

(290)

^[1]

(427)

^[1]

(2,094)

^[1]

(401)

^[1]

(370)

^[1]

(1,443)

^[1]

(205)

^[1]

(211)

^[1]

(848)

^[1]

(864)

^[1]

(4,109)

(4,308)

^[1]

(2,129)

^[1]

(16,565)

^[1]

564

^[1]

830

^[1]

(2,878)

^[1]

5,083

^[1]

(776)

^[1]

2,921

^[1]

437

^[1]

(1,448)

^[1]

(1,216)

^[1]

(1,165)

^[1]

10,329

4,350

^[1]

(3,392)

^[1]

(15,068)

^[1]

Total other income (expense)

(23,365)

(10,984)

(13,730)

^[1]

2,186

^[1]

(4,436)

^[1]

(2,183)

^[1]

(27,268)

^[1]

(3,779)

^[1]

(27,139)

^[1]

(605)

^[1]

4,576

^[1]

10,198

^[1]

(45,893)

(37,666)

^[1]

(12,969)

^[1]

(173,610)

^[1]

5,191

3,744

564

^[1]

830

^[1]

(2,878)

^[1]

5,083

^[1]

(776)

^[1]

2,921

^[1]

437

^[1]

(1,448)

^[1]

(1,216)

^[1]

(1,165)

^[1]

Income (loss) from continuing operations before income taxes

(13,166)

^[1]

3,016

^[1]

(7,314)

^[1]

2,900

^[1]

(28,044)

^[1]

(858)

^[1]

(26,702)

^[1]

(2,053)

^[1]

3,360

^[1]

9,033

^[1]

(35,564)

(33,316)

^[1]

(16,361)

^[1]

(188,678)

^[1]

Discontinued operations, net of income taxes

(81)

(98)

670

^[1]

(91)

^[1]

(91)

^[1]

(104)

^[1]

(45)

^[1]

(2,334)

^[1]

(29)

^[1]

Income (loss) from discontinued operations,

670

^[1]

(91)

^[1]

(91)

^[1]

(104)

^[1]

(45)

^[1]

(2,334)

^[1]

(29)

^[1]

491

(330)

^[1]

(2,318)

^[1]

126

^[1]

Income tax (expense) benefit

1,985

(1,202)

380

^[1]

1,871

^[1]

(2,954)

^[1]

1,331

^[1]

1,132

^[1]

1,309

^[1]

165

^[1]

942

^[1]

2,174

^[1]

1,881

^[1]

$ 3,035

$ 819

^[1]

$ 5,205

$ 10,302

^[1]

$ (20,159)

$ (6,038)

$ (13,546)

^[1]

$ 1,145

^[1]

$ (4,360)

^[1]

$ 1,569

^[1]

$ (29,176)

^[1]

$ (2,167)

^[1]

$ (26,867)

^[1]

$ (2,995)

^[1]

$ 1,186

^[1]

$ 7,152

^[1]

$ (0.46)

$ (0.14)

$ (0.32)

^[1]

$ 0.03

^[1]

$ (0.10)

^[1]

$ 0.03

^[1]

$ (0.68)

^[1]

$ (0.05)

^[1]

$ (0.62)

^[1]

$ (0.07)

^[1]

$ 0.03

^[1]

$ 0.16

^[1]

$ (0.88)

$ (0.79)

^[1]

$ (0.49)

^[1]

$ (4.39)

^[1]

0.02

^[1]

(0.05)

^[1]

0.01

(0.01)

^[1]

(0.05)

^[1]

(0.14)

(0.30)

^[1]

0.03

^[1]

(0.10)

^[1]

0.03

^[1]

(0.68)

^[1]

(0.05)

^[1]

(0.62)

^[1]

(0.12)

^[1]

0.03

^[1]

0.16

^[1]

(0.87)

(0.80)

^[1]

(0.54)

^[1]

(4.39)

^[1]

$ (0.46)

(0.14)

(0.32)

^[1]

0.03

^[1]

(0.10)

^[1]

0.03

^[1]

(0.68)

^[1]

(0.05)

^[1]

(0.62)

^[1]

(0.07)

^[1]

0.03

^[1]

0.16

^[1]

(0.88)

(0.79)

^[1]

(0.49)

^[1]

(4.39)

^[1]

0.02

^[1]

(0.05)

^[1]

0.01

(0.01)

^[1]

(0.05)

^[1]

$ (0.14)

$ (0.30)

^[1]

$ 0.03

^[1]

$ (0.10)

^[1]

$ 0.03

^[1]

$ (0.68)

^[1]

$ (0.05)

^[1]

$ (0.62)

^[1]

$ (0.12)

^[1]

$ 0.03

^[1]

$ 0.16

^[1]

$ (0.87)

$ (0.80)

^[1]

$ (0.54)

^[1]

$ (4.39)

^[1]

$ 177,094

$ 178,565

$ 178,324

^[1]

$ 205,908

^[1]

$ 198,688

^[1]

$ 206,579

^[1]

$ 233,212

^[1]

$ 235,271

^[1]

$ 226,760

^[1]

$ 212,379

^[1]

$ 234,034

^[1]

$ 245,273

^[1]

$ 739,891

$ 873,748

^[1]

$ 918,445

^[1]

$ 1,001,980

^[1]

43,434

^[1]

43,315

^[1]

43,317

^[1]

43,303

^[1]

43,279

^[1]

43,309

^[1]

43,652

^[1]

43,730

^[1]

44,208

^[1]

44,806

^[1]

43,565

43,294

^[1]

44,104

^[1]

45,372

^[1]

$ (7,038)

^[1]

$ 6,945

^[1]

$ 445

^[1]

$ 1,206

^[1]

$ (23,582)

^[1]

$ 685

^[1]

$ (24,158)

^[1]

$ 2,912

^[1]

$ 8,412

^[1]

$ 13,902

^[1]

$ (18,774)

$ (21,247)

^[1]

$ (12,969)

^[1]

$ (159,510)

^[1]

43,434

^[1]

43,318

^[1]

43,317

^[1]

43,502

^[1]

43,279

^[1]

43,309

^[1]

43,652

^[1]

43,730

^[1]

44,301

^[1]

44,921

^[1]

43,565

43,294

^[1]

44,104

^[1]

45,372

^[1]

(20,240)

(6,136)

$ (12,876)

^[1]

$ 1,145

^[1]

$ (4,451)

^[1]

$ 1,478

^[1]

$ (29,280)

^[1]

$ (2,212)

^[1]

$ (26,867)

^[1]

$ (5,329)

^[1]

$ 1,157

^[1]

$ 7,197

^[1]

$ (38,108)

$ (34,465)

^[1]

$ (23,841)

^[1]

$ (199,383)

^[1]

(6,692)

^[1]

(4,759)

^[1]

(4,881)

^[1]

(3,389)

^[1]

(3,686)

^[1]

(4,464)

^[1]

(2,981)

^[1]

(3,517)

^[1]

(3,836)

^[1]

(3,704)

^[1]

(27,119)

(16,419)

^[1]

(14,038)

^[1]

(14,100)

^[1]

(23,365)

(10,984)

(13,730)

^[1]

2,186

^[1]

(4,436)

^[1]

(2,183)

^[1]

(27,268)

^[1]

(3,779)

^[1]

(27,139)

^[1]

(605)

^[1]

4,576

^[1]

10,198

^[1]

(45,893)

(37,666)

^[1]

(12,969)

^[1]

(173,610)

^[1]

(3,552)

^[1]

(3,748)

^[1]

(4,474)

^[1]

(4,140)

^[1]

(4,209)

^[1]

(4,010)

^[1]

(4,214)

^[1]

(4,230)

^[1]

(4,239)

^[1]

(4,237)

^[1]

(14,057)

(16,833)

^[1]

(16,918)

^[1]

(20,057)

^[1]

(332)

^[1]

(332)

^[1]

(1,037)

^[1]

(1,062)

^[1]

(1,679)

^[1]

(1,679)

^[1]

(1,680)

^[1]

(1,657)

^[1]

(1,599)

^[1]

(1,372)

^[1]

(1,279)

(5,457)

^[1]

(6,308)

^[1]

(5,485)

^[1]

(27,166)

^[1]

(25,800)

^[1]

(2,062)

(27,166)

^[1]

(25,800)

^[1]

(164,682)

^[1]

(998)

^[1]

(882)

^[1]

(861)

^[1]

(722)

^[1]

(994)

^[1]

(903)

^[1]

(857)

^[1]

(900)

^[1]

(1,325)

^[1]

(1,072)

^[1]

(2,990)

(3,481)

^[1]

(4,154)

^[1]

(5,103)

^[1]

(4,597)

^[1]

(755)

^[1]

406

^[1]

(412)

^[1]

(789)

^[1]

1,858

^[1]

(836)

^[1]

(75)

^[1]

(7,455)

(795)

965

^[1]

(19,341)

^[1]

(23,365)

(10,984)

(13,730)

^[1]

2,186

^[1]

(4,436)

^[1]

(2,183)

^[1]

(27,268)

^[1]

(3,779)

^[1]

(27,139)

^[1]

(605)

^[1]

4,576

^[1]

10,198

^[1]

(45,893)

(37,666)

^[1]

(12,969)

^[1]

(173,610)

^[1]

564

^[1]

830

^[1]

(2,878)

^[1]

5,083

^[1]

(776)

^[1]

2,921

^[1]

437

^[1]

(1,448)

^[1]

(1,216)

^[1]

(1,165)

^[1]

10,329

4,350

^[1]

(3,392)

^[1]

(15,068)

^[1]

(1,985)

1,202

(380)

^[1]

(1,871)

^[1]

2,954

^[1]

(1,331)

^[1]

(1,132)

^[1]

(1,309)

^[1]

(165)

^[1]

(942)

^[1]

(2,174)

^[1]

(1,881)

^[1]

(3,035)

(819)

^[1]

(5,205)

(10,302)

^[1]

670

^[1]

(91)

^[1]

(91)

^[1]

(104)

^[1]

(45)

^[1]

(2,334)

^[1]

(29)

^[1]

491

(330)

^[1]

(2,318)

^[1]

126

^[1]

$ (20,240)

$ (6,136)

(12,876)

^[1]

1,145

^[1]

(4,451)

^[1]

1,478

^[1]

(29,280)

^[1]

(2,212)

^[1]

(26,867)

^[1]

(5,329)

^[1]

1,157

^[1]

7,197

^[1]

(38,108)

(34,465)

^[1]

(23,841)

^[1]

(199,383)

^[1]

Non Adjusted [Member]

^[1]

(13,730)

2,186

^[1]

(13,730)

2,186

^[1]

(13,730)

2,186

Adjusted [Member]

1,279

5,457

^[1]

6,308

^[1]

5,485

^[1]

2,062

27,166

^[1]

25,800

^[1]

164,682

^[1]

(4,251)

^[1]

7,903

^[1]

1,530

^[1]

3,741

^[1]

7,192

^[1]

3,602

^[1]

3,554

^[1]

7,018

^[1]

11,721

^[1]

16,954

^[1]

(18,050)

16,066

^[1]

39,246

^[1]

41,058

^[1]

1,719

^[1]

12,023

^[1]

5,789

^[1]

6,624

^[1]

10,228

^[1]

7,468

^[1]

5,986

^[1]

9,928

^[1]

14,864

^[1]

20,063

^[1]

7,235

30,109

^[1]

50,840

^[1]

51,917

^[1]

(5,970)

^[1]

(4,120)

^[1]

(4,259)

^[1]

(2,883)

^[1]

(3,036)

^[1]

(3,866)

^[1]

(2,432)

^[1]

(2,910)

^[1]

(3,143)

^[1]

(3,109)

^[1]

(25,285)

(14,043)

^[1]

(11,594)

^[1]

(10,859)

^[1]

(4,251)

^[1]

7,903

^[1]

1,530

^[1]

3,741

^[1]

7,192

^[1]

3,602

^[1]

3,554

^[1]

7,018

^[1]

11,721

^[1]

16,954

^[1]

(18,050)

16,066

^[1]

39,246

^[1]

41,058

^[1]

(14,057)

(16,833)

^[1]

(16,918)

^[1]

(20,057)

^[1]

(1,279)

(5,457)

^[1]

(6,308)

^[1]

(5,485)

^[1]

(2,062)

(27,166)

^[1]

(25,800)

^[1]

(164,682)

^[1]

(2,990)

(3,481)

^[1]

(4,154)

^[1]

(5,103)

^[1]

(7,455)

(795)

^[1]

965

^[1]

(19,341)

^[1]

(4,251)

^[1]

7,903

^[1]

1,530

^[1]

3,741

^[1]

7,192

^[1]

3,602

^[1]

3,554

^[1]

7,018

^[1]

11,721

^[1]

16,954

^[1]

(18,050)

16,066

^[1]

39,246

^[1]

41,058

^[1]

59,498

^[1]

69,511

^[1]

68,926

^[1]

70,652

^[1]

76,104

^[1]

80,680

^[1]

79,516

^[1]

72,840

^[1]

75,745

^[1]

79,452

^[1]

249,940

296,362

^[1]

307,552

^[1]

327,455

^[1]

59,498

^[1]

69,511

^[1]

68,926

^[1]

70,652

^[1]

76,104

^[1]

80,680

^[1]

79,516

^[1]

72,840

^[1]

75,745

^[1]

79,452

^[1]

249,940

296,362

^[1]

307,552

^[1]

327,455

^[1]

(3,084)

^[1]

(120)

^[1]

(4,808)

^[1]

(3,318)

^[1]

(18,165)

^[1]

(3,693)

^[1]

(16,287)

^[1]

(4,934)

^[1]

(3,523)

^[1]

(1,509)

^[1]

(14,108)

(29,984)

^[1]

(26,253)

^[1]

(98,896)

^[1]

Americas [Member] | Adjusted [Member]

(4,300)

(5,200)

(5,400)

(7,000)

(1,272)

^[1]

1,326

^[1]

(3,113)

^[1]

(1,673)

^[1]

(54)

^[1]

(1,189)

^[1]

(1,289)

^[1]

(2,201)

^[1]

(921)

^[1]

768

^[1]

(7,675)

(6,029)

^[1]

(3,644)

^[1]

(6,935)

^[1]

51,125

^[1]

60,739

^[1]

57,003

^[1]

56,934

^[1]

62,570

^[1]

57,219

^[1]

61,073

^[1]

59,763

^[1]

68,077

^[1]

73,680

^[1]

218,880

233,724

^[1]

262,594

^[1]

296,756

^[1]

51,125

^[1]

60,739

^[1]

57,003

^[1]

56,934

^[1]

62,570

^[1]

57,219

^[1]

61,073

^[1]

59,763

^[1]

68,077

^[1]

73,680

^[1]

218,880

233,724

^[1]

262,594

^[1]

296,756

^[1]

4,513

^[1]

9,292

^[1]

9,879

^[1]

6,741

^[1]

8,000

^[1]

4,548

^[1]

7,698

^[1]

10,980

^[1]

13,865

^[1]

14,820

^[1]

21,450

29,168

^[1]

47,364

^[1]

(34,790)

^[1]

Asia [Member] | Adjusted [Member]

(4,400)

(4,600)

(5,000)

(5,700)

5,795

^[1]

10,965

^[1]

11,342

^[1]

8,363

^[1]

9,889

^[1]

6,561

^[1]

9,251

^[1]

12,776

^[1]

15,630

^[1]

16,604

^[1]

26,811

36,155

^[1]

54,261

^[1]

49,472

^[1]

50,710

^[1]

57,605

^[1]

57,056

^[1]

63,444

^[1]

77,552

^[1]

77,012

^[1]

66,440

^[1]

61,831

^[1]

75,637

^[1]

79,677

^[1]

211,319

275,065

^[1]

283,584

^[1]

333,181

^[1]

50,710

^[1]

57,605

^[1]

57,056

^[1]

63,444

^[1]

77,552

^[1]

77,012

^[1]

66,440

^[1]

61,831

^[1]

75,637

^[1]

79,677

^[1]

211,319

275,065

^[1]

283,584

^[1]

333,181

^[1]

(7,177)

^[1]

(1,688)

^[1]

(3,606)

^[1]

(2,425)

^[1]

(60)

^[1]

(90)

^[1]

(1,011)

^[1]

(1,931)

^[1]

(1,649)

^[1]

(274)

^[1]

(15,718)

(6,181)

^[1]

(4,865)

^[1]

(27,944)

^[1]

Europe [Member] | Adjusted [Member]

(4,500)

(6,000)

(5,700)

(6,500)

(2,225)

^[1]

(296)

^[1]

(1,997)

^[1]

(825)

^[1]

1,632

^[1]

1,388

^[1]

(1,161)

^[1]

(202)

^[1]

(286)

^[1]

1,330

^[1]

(6,061)

198

^[1]

(319)

^[1]

4,541

^[1]

8,888

^[1]

8,079

^[1]

5,528

^[1]

6,415

^[1]

7,782

^[1]

9,746

^[1]

10,007

^[1]

8,937

^[1]

4,768

^[1]

25,944

29,471

^[1]

23,712

^[1]

8,888

^[1]

8,079

^[1]

5,528

^[1]

6,415

^[1]

7,782

^[1]

9,746

^[1]

10,007

^[1]

8,937

^[1]

4,768

^[1]

25,944

29,471

^[1]

23,712

^[1]

TFL [Member] | Adjusted [Member]

(1,211)

^[1]

(1,395)

^[1]

(1,292)

^[1]

(275)

^[1]

(13,567)

^[1]

(1,004)

^[1]

(11,510)

^[1]

(307)

^[1]

(427)

^[1]

(11,032)

(16,139)

^[1]

(12,244)

^[1]

(988)

^[1]

(1,315)

^[1]

(1,212)

^[1]

(197)

^[1]

(1,951)

^[1]

(666)

^[1]

(1,003)

^[1]

(23)

^[1]

(200)

^[1]

(8,781)

(4,026)

^[1]

(1,226)

^[1]

8,103

^[1]

9,974

^[1]

10,175

^[1]

9,134

^[1]

9,204

^[1]

10,614

^[1]

9,724

^[1]

9,008

^[1]

9,807

^[1]

12,464

^[1]

33,808

39,126

^[1]

41,003

^[1]

44,588

^[1]

8,103

^[1]

9,974

^[1]

10,175

^[1]

9,134

^[1]

9,204

^[1]

10,614

^[1]

9,724

^[1]

9,008

^[1]

9,807

^[1]

12,464

^[1]

33,808

39,126

^[1]

41,003

^[1]

44,588

^[1]

(79)

^[1]

856

^[1]

272

^[1]

483

^[1]

210

^[1]

924

^[1]

(3,048)

^[1]

(896)

^[1]

146

^[1]

865

^[1]

634

1,889

^[1]

(2,933)

^[1]

2,120

^[1]

All Other [Member] | Adjusted [Member]

(800)

(900)

(800)

(900)

409

^[1]

1,343

^[1]

769

^[1]

956

^[1]

712

^[1]

1,374

^[1]

188

^[1]

(422)

^[1]

641

^[1]

1,361

^[1]

$ 2,941

3,811

^[1]

1,768

^[1]

4,839

^[1]

178,588

206,151

198,798

207,140

234,150

236,379

228,133

213,697

235,488

246,678

876,466

923,996

1,008,554

162,521

180,658

181,144

186,906

210,759

214,025

203,686

189,090

203,954

210,664

792,833

807,393

886,119

16,067

25,493

17,654

20,234

23,391

22,354

24,447

24,607

31,534

36,014

83,633

116,603

122,435

24,607

22,198

21,390

20,788

20,458

22,551

24,585

21,395

23,917

22,958

85,187

92,855

100,409

332

1,037

1,062

1,679

1,680

1,657

1,599

1,372

5,457

6,308

5,485

27,166

25,800

27,166

25,800

164,682

4,597

755

(406)

412

789

(1,858)

260

129

795

(1,433)

19,552

29,536

23,285

22,021

21,850

49,715

25,019

50,207

23,312

25,552

24,459

118,605

123,530

290,128

29,536

23,285

22,021

21,850

49,715

25,019

50,207

23,312

25,552

24,459

118,605

123,530

290,128

122

121

238

298

1,493

(96)

(88)

(103)

(108)

(120)

(122)

(145)

(130)

(158)

(127)

(453)

(561)

(802)

Other gains (losses)

830

1,225

(726)

(1,641)

(372)

(1,925)

744

(1,153)

(289)

(291)

(4,663)

(988)

820

(290)

(427)

(2,891)

(401)

(370)

(646)

(205)

(211)

(848)

(864)

(4,308)

(2,129)

(16,565)

566

832

(3,673)

(2,088)

(774)

(2,651)

440

(1,445)

(1,213)

(1,161)

(9,186)

(3,380)

(15,054)

Income (loss) from continuing operations before income taxes

(13,469)

2,208

(4,367)

(1,616)

(26,324)

(2,665)

(25,760)

1,295

5,982

11,555

(34,972)

(167,693)

(12,903)

3,040

(8,040)

(3,704)

(27,098)

(5,316)

(25,320)

(150)

4,769

10,394

(44,158)

(10,307)

(182,747)

Income (loss) from discontinued operations,

670

(91)

(104)

(45)

(2,334)

(29)

$ (330)

$ (2,318)

$ 126

Income tax (expense) benefit

380

1,871

754

1,331

1,132

1,309

165

942

2,174

1,881

$ (13,283)

$ 1,169

$ (8,794)

$ (5,035)

$ (28,230)

$ (6,625)

$ (25,485)

$ (1,092)

$ 2,595

$ 8,513

$ (0.31)

$ 0.03

$ (0.21)

$ (0.12)

$ (0.65)

$ (0.15)

$ (0.58)

$ (0.03)

$ 0.06

$ 0.19

$ (1.12)

$ (0.35)

$ (4.26)

0.02

(0.05)

(0.01)

(0.05)

(0.29)

0.03

(0.21)

(0.12)

(0.65)

(0.15)

(0.58)

(0.08)

0.06

0.19

(1.13)

(0.40)

(4.26)

(0.31)

0.03

(0.21)

(0.12)

(0.65)

(0.15)

(0.58)

(0.03)

0.06

0.19

(1.12)

(0.35)

(4.26)

0.02

(0.05)

(0.01)

(0.05)

$ (0.29)

$ 0.03

$ (0.21)

$ (0.12)

$ (0.65)

$ (0.15)

$ (0.58)

$ (0.08)

$ 0.06

$ 0.19

$ (1.13)

$ (0.40)

$ (4.26)

$ 178,588

$ 206,151

$ 198,798

$ 207,140

$ 234,150

$ 236,379

$ 228,133

$ 213,697

$ 235,488

$ 246,678

$ 876,466

$ 923,996

$ 1,008,554

43,434

43,315

43,317

43,303

43,279

43,309

43,652

43,730

44,208

44,806

43,294

44,104

45,372

$ (6,927)

43,434

43,318

43,317

43,303

43,279

43,309

43,652

43,730

44,301

44,921

43,294

44,104

45,372

$ (12,613)

$ 1,169

$ (8,885)

$ (5,126)

$ (28,334)

$ (6,670)

$ (25,485)

$ (3,426)

$ 2,566

$ 8,558

$ (49,015)

$ (17,787)

$ (193,452)

(13,469)

2,208

(4,367)

(1,616)

(26,324)

(2,665)

(25,760)

1,295

5,982

11,555

(34,972)

(167,693)

(16,782)

(16,867)

(20,012)

(332)

(1,037)

(1,062)

(1,679)

(1,680)

(1,657)

(1,599)

(1,372)

(5,457)

(6,308)

(5,485)

(27,166)

(25,800)

(27,166)

(25,800)

(164,682)

(3,481)

(4,154)

(5,103)

(13,469)

2,208

(4,367)

(1,616)

(26,324)

(2,665)

(25,760)

1,295

5,982

11,555

(34,972)

(167,693)

566

832

(3,673)

(2,088)

(774)

(2,651)

440

(1,445)

(1,213)

(1,161)

(9,186)

(3,380)

(15,054)

(380)

(1,871)

(754)

(1,331)

(1,132)

(1,309)

(165)

(942)

(2,174)

(1,881)

670

(91)

(104)

(45)

(2,334)

(29)

(330)

(2,318)

126

(12,613)

1,169

(8,885)

(5,126)

(28,334)

(6,670)

(25,485)

(3,426)

2,566

8,558

(49,015)

(17,787)

(193,452)

(496)

(417)

(399)

(426)

(508)

(635)

(975)

(1,056)

(1,454)

(1,405)

(1,969)

(4,891)

(6,574)

(496)

(417)

(399)

(426)

(508)

(635)

(975)

(1,056)

(1,454)

(1,405)

(1,969)

(4,891)

(6,574)

Other gains (losses)

7,173

6,372

13,545

7,173

6,372

13,545

Income (loss) from continuing operations before income taxes

(496)

(417)

(399)

(426)

(508)

(635)

(975)

(1,056)

(1,454)

(1,405)

(1,969)

(6,574)

(496)

(417)

(399)

6,747

(508)

5,737

(975)

(1,056)

(1,454)

(1,405)

$ 11,576

$ (4,891)

$ (6,574)

$ (496)

$ (417)

$ (399)

$ 6,747

$ (508)

$ 5,737

$ (975)

$ (1,056)

$ (1,454)

$ (1,405)

$ (0.01)

$ 0.15

$ (0.02)

$ 0.13

$ (0.03)

$ (0.02)

$ (0.03)

$ 0.26

$ (0.11)

$ (0.14)

(0.01)

0.15

(0.02)

0.13

(0.03)

(0.02)

(0.03)

0.26

(0.11)

(0.14)

(0.01)

0.15

(0.02)

0.13

(0.03)

(0.02)

(0.03)

0.26

(0.11)

(0.14)

$ (0.01)

$ 0.15

$ (0.02)

$ 0.13

$ (0.03)

$ (0.02)

$ (0.03)

$ 0.26

$ (0.11)

$ (0.14)

$ (496)

$ (417)

$ (399)

$ (426)

$ (508)

$ (635)

$ (975)

$ (1,056)

$ (1,454)

$ (1,405)

$ (1,969)

$ (4,891)

$ (6,574)

(4,891)

(496)

(417)

(399)

6,747

(508)

5,737

(975)

(1,056)

(1,454)

(1,405)

11,576

(4,891)

(6,574)

(496)

(417)

(399)

(426)

(508)

(635)

(975)

(1,056)

(1,454)

(1,405)

(1,969)

(6,574)

(496)

(417)

(399)

(426)

(508)

(635)

(975)

(1,056)

(1,454)

(1,405)

(1,969)

(6,574)

7,173

6,372

13,545

(496)

(417)

(399)

6,747

(508)

5,737

(975)

(1,056)

(1,454)

(1,405)

11,576

(4,891)

(6,574)

232

174

289

(135)

(430)

(473)

(398)

(262)

(749)

(660)

(3)

(221)

(41)

(24)

235

395

330

(141)

(436)

(479)

(404)

(268)

(6)

(725)

(683)

(25)

(471)

576

(54)

468

(211)

576

(54)

468

(682)

576

(54)

468

(682)

(2)

(3)

(4)

(9)

(12)

(14)

797

(797)

(2)

795

(2)

(800)

(3)

(4)

(9)

(12)

(14)

Income (loss) from continuing operations before income taxes

235

395

330

(141)

(436)

(479)

(404)

(844)

(725)

657

233

393

1,125

(143)

(438)

(1,279)

(407)

(847)

$ (734)

$ (1,163)

$ 643

Income tax (expense) benefit

(3,708)

233

$ 393

$ 4,833

(143)

$ (438)

$ (1,279)

$ (407)

$ (847)

$ 0.01

$ 0.12

$ (0.01)

$ (0.03)

$ (0.01)

$ (0.02)

$ 0.07

$ (0.03)

$ 0.01

0.01

0.12

(0.01)

(0.03)

(0.01)

(0.02)

0.07

(0.03)

0.01

0.01

0.12

(0.01)

(0.03)

(0.01)

(0.02)

0.07

(0.03)

0.01

$ 0.01

$ 0.12

$ (0.01)

$ (0.03)

$ (0.01)

$ (0.02)

$ 0.07

$ (0.03)

$ 0.01

232

$ 174

$ 289

(135)

$ (430)

$ (473)

$ (398)

$ (262)

$ (749)

$ (660)

(1,151)

233

393

4,833

(143)

(438)

(1,279)

(407)

(847)

2,974

(1,163)

$ 643

235

395

330

(141)

(436)

(479)

(404)

(844)

(725)

657

(51)

(45)

235

395

330

(141)

(436)

(479)

(404)

(844)

(725)

657

(2)

795

(2)

(800)

(3)

(4)

(9)

(12)

(14)

3,708

$ 233

$ 393

$ 4,833

$ (143)

$ (438)

$ (1,279)

$ (407)

$ (847)

$ 45

$ 44

$ 2,974

$ (1,163)

$ 643

[1]	As Restated

Selected Quarterly Financial Information (Consolidated Balance Sheets) (Detail) - USD ($)
$ in Thousands

Jul. 31, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2009

Jul. 31, 2008

ASSETS

$ 342,571

$ 411,100

^[1]

$ 459,771

^[1]

$ 402,800

^[1]

$ 411,979

^[1]

$ 431,282

^[1]

$ 501,044

^[1]

$ 486,594

^[1]

$ 491,405

^[1]

$ 503,090

^[1]

$ 537,619

^[1]

52,369

95,618

^[1]

111,526

^[1]

111,225

^[1]

119,120

^[1]

154,217

^[1]

145,924

^[1]

161,364

^[1]

159,897

^[1]

163,970

^[1]

174,402

^[1]

$ 168,767

^[1]

$ 160,585

^[1]

Accounts receivable, trade, net of allowance for doubtful accounts of $1,027

131

132

^[1]

133

^[1]

131

^[1]

130

^[1]

222

^[1]

233

^[1]

270

^[1]

335

^[1]

284

^[1]

284

^[1]

148,931

156,195

^[1]

187,952

^[1]

146,411

^[1]

135,622

^[1]

140,892

^[1]

186,479

^[1]

159,768

^[1]

146,203

^[1]

150,311

^[1]

194,142

^[1]

83,990

94,675

^[1]

94,909

^[1]

76,883

^[1]

83,263

^[1]

79,667

^[1]

80,007

^[1]

74,096

^[1]

66,270

^[1]

67,107

^[1]

71,037

^[1]

10,466

10,325

^[1]

10,120

^[1]

10,876

^[1]

13,803

^[1]

12,084

^[1]

13,488

^[1]

14,226

^[1]

12,020

^[1]

13,060

^[1]

10,135

^[1]

295,887

356,945

^[1]

404,640

^[1]

345,526

^[1]

351,938

^[1]

387,082

^[1]

426,131

^[1]

409,724

^[1]

384,725

^[1]

394,732

^[1]

450,000

^[1]

^[1]

40,772

43,493

44,807

47,403

50,052

50,072

52,353

53,061

55,025

56,529

59,134

10,803

12,352

^[1]

12,642

^[1]

12,016

^[1]

13,276

^[1]

12,200

^[1]

12,306

^[1]

13,016

^[1]

13,022

^[1]

13,180

^[1]

12,514

^[1]

3,058

^[1]

3,058

^[1]

3,058

^[1]

3,058

^[1]

3,058

^[1]

16,207

^[1]

16,207

^[1]

42,007

^[1]

42,007

^[1]

25,708

^[1]

25,708

2,897

4,029

^[1]

4,360

^[1]

4,699

^[1]

5,736

^[1]

6,798

^[1]

22,495

^[1]

24,173

^[1]

25,852

^[1]

27,509

^[1]

21,748

^[1]

5,465

10,318

^[1]

9,510

^[1]

9,545

^[1]

10,402

^[1]

10,307

^[1]

10,022

^[1]

9,760

^[1]

10,140

^[1]

9,741

^[1]

8,111

^[1]

358,882

430,195

^[1]

479,017

^[1]

422,247

^[1]

434,462

^[1]

469,517

^[1]

539,514

^[1]

525,941

^[1]

530,771

^[1]

543,698

^[1]

577,215

^[1]

Current installments of obligations under capital lease

^[1]

105

^[1]

115

^[1]

110,520

135,970

^[1]

164,196

^[1]

114,588

^[1]

111,000

^[1]

111,205

^[1]

144,930

^[1]

132,098

^[1]

108,730

^[1]

112,756

^[1]

135,990

^[1]

1,724

4,978

^[1]

1,909

^[1]

1,456

^[1]

1,618

^[1]

2,123

^[1]

3,026

^[1]

2,632

^[1]

5,611

^[1]

6,445

^[1]

8,842

^[1]

^[1]

1,260

180

242

1,260

1,377

1,155

41,753

37,776

^[1]

42,407

^[1]

36,384

^[1]

40,572

^[1]

39,005

^[1]

46,213

^[1]

45,963

^[1]

41,329

^[1]

43,477

^[1]

48,130

^[1]

26,778

39,489

^[1]

39,765

^[1]

38,624

^[1]

39,228

^[1]

44,641

^[1]

43,230

^[1]

47,649

^[1]

46,265

^[1]

46,068

^[1]

43,766

^[1]

1,528

1,452

^[1]

1,817

^[1]

1,817

^[1]

1,686

^[1]

1,686

^[1]

1,792

^[1]

1,791

^[1]

1,992

^[1]

1,602

^[1]

1,666

^[1]

182,376

219,754

^[1]

251,442

^[1]

193,143

^[1]

194,193

^[1]

198,749

^[1]

239,510

^[1]

230,272

^[1]

205,284

^[1]

211,830

^[1]

239,664

^[1]

Obligations under capital leases, less current installments

^[1]

109

299

484

665

1,000

1,276

1,686

1,804

104

^[1]

100

^[1]

126

^[1]

144

^[1]

170

^[1]

203

^[1]

220

^[1]

11,012

12,030

^[1]

12,326

^[1]

12,585

^[1]

16,894

^[1]

16,715

^[1]

16,981

^[1]

15,722

^[1]

15,686

^[1]

16,437

^[1]

16,899

^[1]

293

983

^[1]

1,623

^[1]

1,883

^[1]

2,241

^[1]

2,587

^[1]

2,929

^[1]

3,289

^[1]

3,575

^[1]

2,057

^[1]

2,235

^[1]

^[1]

232,980

265,517

207,705

213,707

218,635

260,211

250,427

225,991

232,213

260,822

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

^[1]

Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,723,322 issued and outstanding shares

439

443

^[1]

441

^[1]

438

^[1]

438

^[1]

438

^[1]

437

^[1]

440

^[1]

441

^[1]

443

^[1]

449

^[1]

7,390,027

7,388,896

^[1]

7,387,871

^[1]

7,387,135

^[1]

7,386,248

^[1]

7,425,434

^[1]

7,424,402

^[1]

7,427,031

^[1]

7,426,120

^[1]

7,427,477

^[1]

7,432,500

^[1]

(7,236,775)

(7,210,399)

^[1]

(7,197,523)

^[1]

(7,198,667)

^[1]

(7,194,216)

^[1]

(7,195,693)

^[1]

(7,166,413)

^[1]

(7,164,202)

^[1]

(7,137,335)

^[1]

(7,132,005)

^[1]

(7,133,163)

^[1]

(7,140,300)

^[1]

11,441

18,275

^[1]

22,711

^[1]

25,636

^[1]

28,285

^[1]

20,703

^[1]

20,877

^[1]

14,237

^[1]

15,554

^[1]

15,570

^[1]

16,607

^[1]

165,132

197,215

^[1]

213,500

^[1]

214,542

^[1]

220,755

^[1]

250,882

^[1]

279,303

^[1]

275,514

^[1]

304,780

^[1]

311,485

^[1]

316,393

^[1]

Corporate-Level Activity [Member]

358,882

430,195

^[1]

479,017

^[1]

422,247

^[1]

434,462

^[1]

469,517

^[1]

539,514

^[1]

525,941

^[1]

530,771

^[1]

543,698

^[1]

577,215

^[1]

16,311

19,095

^[1]

19,246

^[1]

19,447

^[1]

22,483

^[1]

38,235

^[1]

38,470

^[1]

39,347

^[1]

39,366

^[1]

40,608

^[1]

39,596

^[1]

ASSETS

101,931

122,186

^[1]

122,561

^[1]

121,481

^[1]

144,782

^[1]

155,889

^[1]

162,680

^[1]

186,643

^[1]

180,193

^[1]

174,084

^[1]

179,427

^[1]

7,050

19,851

ASSETS

111,660

144,986

^[1]

171,023

^[1]

125,059

^[1]

101,399

^[1]

106,679

^[1]

125,001

^[1]

113,820

^[1]

121,990

^[1]

140,187

^[1]

179,340

^[1]

ASSETS

105,472

113,475

^[1]

124,537

^[1]

120,422

^[1]

133,185

^[1]

134,957

^[1]

152,485

^[1]

135,135

^[1]

128,143

^[1]

128,120

^[1]

138,456

^[1]

ASSETS

2,750

9,504

^[1]

12,851

^[1]

11,029

^[1]

7,806

^[1]

7,747

^[1]

22,942

^[1]

23,256

^[1]

32,874

^[1]

31,942

^[1]

6,099

ASSETS

$ 20,758

20,949

^[1]

28,799

^[1]

24,809

^[1]

24,807

^[1]

26,010

^[1]

37,936

^[1]

27,740

^[1]

28,205

^[1]

28,757

^[1]

40,396

^[1]

95,618

111,526

111,225

119,120

154,217

145,924

161,364

159,897

163,970

174,402

168,767

$ 160,585

Accounts receivable, trade, net of allowance for doubtful accounts of $1,027

132

133

131

130

222

233

270

335

284

156,195

187,952

146,411

135,622

140,892

186,479

159,768

146,203

150,311

194,142

94,675

94,909

77,102

83,263

79,667

80,007

74,096

66,270

67,107

71,037

10,325

10,120

10,876

13,803

12,084

13,488

14,226

12,020

13,060

10,135

356,945

404,640

345,745

351,938

387,082

426,131

409,724

384,725

394,732

450,000

43,371

44,716

47,299

49,935

49,942

52,210

52,906

54,857

56,348

58,940

12,352

12,642

12,016

14,073

12,997

13,103

13,016

13,022

13,180

12,514

3,058

16,207

42,007

25,708

4,029

4,360

4,699

5,736

6,798

22,495

24,173

25,852

27,509

21,748

10,318

9,510

9,545

10,402

10,307

10,022

9,760

10,140

9,741

8,111

430,073

478,926

422,362

435,142

470,184

540,168

525,786

530,603

543,517

577,021

Current installments of obligations under capital lease

135,970

164,196

114,588

111,000

111,205

144,930

132,098

108,730

112,756

135,990

4,978

1,909

1,456

1,618

2,123

3,026

2,632

5,611

7,021

9,364

1,260

180

242

1,260

1,377

1,155

37,776

42,407

36,384

40,314

38,755

45,971

45,729

41,103

43,259

47,920

6,934

7,692

7,029

7,995

6,949

6,048

4,773

4,696

5,817

4,969

1,452

1,817

1,686

1,792

1,791

1,992

1,602

1,666

187,139

219,318

161,497

162,651

160,756

202,035

187,111

163,438

171,886

201,128

Obligations under capital leases, less current installments

109

299

484

665

1,000

1,276

1,686

1,804

15,755

15,791

15,773

16,122

15,791

16,485

15,656

15,686

16,437

16,899

983

1,623

1,883

2,241

2,587

2,929

3,289

3,575

2,057

2,235

204,018

236,807

179,183

181,316

179,628

222,137

207,085

184,018

192,130

222,135

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 43,723,322 issued and outstanding shares

443

441

438

437

440

441

443

449

7,388,896

7,387,871

7,387,135

7,386,248

7,425,434

7,424,402

7,427,031

7,426,120

7,427,477

7,432,500

(7,181,474)

(7,168,862)

(7,170,030)

(7,161,145)

(7,156,019)

(7,127,685)

(7,121,015)

(7,095,530)

(7,092,103)

(7,094,670)

$ (7,103,200)

18,190

22,669

25,636

28,285

20,703

20,877

14,237

15,554

15,570

16,607

226,055

242,119

243,179

253,826

290,556

318,031

318,701

346,585

351,387

354,886

430,073

478,926

422,362

435,142

470,184

540,168

525,786

530,603

543,517

577,021

31,619

31,123

30,706

30,307

37,053

36,545

42,282

41,307

40,251

38,797

31,619

31,123

30,706

30,307

37,053

36,545

42,282

41,307

40,251

38,797

31,619

31,123

30,706

30,307

37,053

36,545

42,282

41,307

40,251

38,797

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

(31,619)

(31,123)

(30,706)

(30,307)

(37,053)

(36,545)

(42,282)

(41,307)

(40,251)

(38,797)

(31,619)

(31,123)

(30,706)

(30,307)

(37,053)

(36,545)

(42,282)

(41,307)

(40,251)

(38,797)

(219)

(219)

122

104

117

130

143

155

168

181

194

(797)

122

(115)

(680)

(667)

(654)

155

168

181

194

Current installments of obligations under capital lease

(576)

(522)

258

250

242

234

226

218

210

936

950

889

926

639

637

594

262

Obligations under capital leases, less current installments

996

1,001

940

1,235

940

930

879

539

(307)

(261)

103

115

127

139

151

(3,725)

(3,465)

(3,188)

772

924

496

(2,657)

(2,413)

(2,184)

2,084

1,954

1,529

1,060

666

(168)

(110)

Preferred stock, $0.01 par value per share. Authorized 5,000,000 shares; zero issued or outstanding

2,694

2,462

2,069

(2,764)

(2,621)

(2,183)

(905)

(498)

349

304

2,779

2,504

2,069

(2,764)

(2,621)

(2,183)

(905)

(498)

349

304

$ 122

$ 91

$ (115)

$ (680)

$ (667)

$ (654)

$ 155

$ 168

$ 181

$ 194

[1]	As Restated

Selected Quarterly Financial Information (Consolidated Balance Sheets) (Parenthetical) (Detail) - USD ($)
$ / shares in Units, $ in Thousands

Jul. 31, 2012

Jan. 31, 2012

Oct. 31, 2011

Jul. 31, 2011

Apr. 30, 2011

Jan. 31, 2011

Oct. 31, 2010

Jul. 31, 2010

Apr. 30, 2010

Jan. 31, 2010

Oct. 31, 2009

Jul. 31, 2009

Accounts receivable, trade, net of allowance for doubtful accounts

$ 344

$ 353

^[1]

$ 332

^[1]

$ 473

^[1]

$ 777

^[1]

$ 1,027

^[1]

$ 994

^[1]

$ 919

^[1]

$ 879

^[1]

$ 1,257

^[1]

$ 1,154

^[1]

$ 3,767

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

5,000,000

^[1]

^[1]

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

$ 0.01

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

1,400,000,000

^[1]

43,926,622

44,264,450

^[1]

44,076,160

^[1]

43,829,097

^[1]

43,824,651

^[1]

43,814,824

^[1]

43,723,322

^[1]

44,039,938

^[1]

44,056,151

^[1]

44,293,804

^[1]

44,931,506

^[1]

43,926,622

44,264,450

^[1]

44,076,160

^[1]

43,829,097

^[1]

43,824,651

^[1]

43,814,824

^[1]

43,723,322

^[1]

43,729,338

^[1]

44,056,151

^[1]

44,293,804

^[1]

44,931,506

^[1]

Accounts receivable, trade, net of allowance for doubtful accounts

$ 353

$ 332

$ 473

$ 777

$ 1,027

$ 994

$ 919

$ 879

$ 1,257

$ 1,154

$ 0.01

5,000,000

$ 0.01

1,400,000,000

44,264,450

44,076,160

43,829,097

43,824,651

43,814,824

43,723,322

44,039,938

44,056,151

44,293,804

44,931,506