Earnings (Loss) Per Share

6 Months Ended

Jan. 31, 2015

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. The following table summarizes the components of the earnings (loss) per common share calculation:

	Three Months Ended  January 31,				Six Months Ended  January 31,
	2015		2014		2015		2014
	(in thousands)
Basic weighted-average number of shares		11,420		10,784		11,409		10,646
Effect of dilutive securities:
Shares underlying stock options		—		—		7		—
Non-vested restricted Class B common stock		—		—		421		—
Diluted weighted-average number of shares		11,420		10,784		11,837		10,646

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

	Three Months Ended  January 31,				Six Months Ended  January 31,
	2015		2014		2015		2014
	(in thousands)
Stock options		7		30		—		30
Non-vested restricted Class B common stock		409		474		—		474
Shares excluded from the calculation of diluted earnings (loss) per share		416		504		—		504

For the three months ended January 31, 2015 and the three and six months ended January 31, 2014, 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.