(8) Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following at:



	January 31, 2014		July 31, 2013
Accrued wages and benefits	$	9,783,000	11,526,000
Accrued warranty obligations	8,291,000		7,797,000
Accrued commissions and royalties	2,985,000		4,206,000
Accrued business acquisition payments	—		288,000
Other	4,867,000		6,075,000
Accrued expenses and other current liabilities	$	25,926,000	29,892,000

Accrued Warranty Obligations

We provide warranty coverage for most of our products for a period of at least one year from the date of shipment. We record a liability for estimated warranty expense based on historical claims, product failure rates and other factors. Some of our product warranties are provided under long-term contracts, the costs of which are incorporated into our estimates of total contract costs.

Changes in our product warranty liability were as follows:



	Six months ended January 31,
	2014			2013
Balance at beginning of period	$	7,797,000		7,883,000
Provision for warranty obligations	3,548,000			3,709,000
Charges incurred	(3,054,000		)	(2,928,000	)
Balance at end of period	$	8,291,000		8,664,000

Accrued Business Acquisition Payments

In October 2010, we acquired the WAN optimization technology assets and assumed certain liabilities of Stampede for an estimated total purchase price of approximately $5,303,000, including the initial fair value of contingent earn-out payments which aggregated $3,803,000. Almost all of the purchase price for Stampede was allocated to the estimated fair value of technologies acquired and was assigned an estimated amortizable life of five years.

In the first quarter of fiscal 2014, the fair value of the contingent earn-out liability was reduced by $239,000, which is reflected as a reduction to selling, general and administrative expenses in our Condensed Consolidated Statement of Operations for the six months ended January 31, 2014. In November 2013, we made our final earn-out payment of $43,000. In fiscal 2013, the fair value of the contingent earn-out liability was reduced by $889,000 and $3,267,000 during the three and six months ended January 31, 2013, respectively, which is reflected as a reduction to selling, general and administrative expenses in our Condensed Consolidated Statement of Operations for the respective periods.

There was no interest accreted on the contingent earn-out liability for the three and six months ended January 31, 2014. Interest accreted on the contingent earn-out liability was $25,000 and $133,000 for the three and six months ended January 31, 2013, respectively. Total interest accreted through January 31, 2014 was $986,000.

Through January 31, 2014, we paid $1,865,000 of the total purchase price in cash, including $365,000 of earn-out payments.