Earnings (Loss) Per Share

3 Months Ended

Oct. 31, 2014

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

Note 4—Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive.

	Three Months Ended October 31,
	2014		2013
	(in thousands)
Basic weighted-average number of shares		11,398		10,508
Effect of dilutive securities:
Shares underlying stock options		10		—
Non-vested restricted Class B common stock		395		—
Diluted weighted-average number of shares		11,803		10,508

The following shares were excluded from the diluted loss per share computations because their inclusion would have been anti-dilutive:

	Three Months Ended  October 31,
	2014		2013
	(in thousands)
Shares underlying stock options		—		32
Non-vested restricted Class B common stock		—		1,279
Shares excluded from the calculation of diluted loss per share		—		1,311

For the three months ended October 31, 2013, the diluted loss per share equals basic loss per share because the Company had a net loss and the impact of the assumed exercise of stock options and assumed vesting of restricted stock would have been anti-dilutive.