Earnings (Loss) Per Share

3 Months Ended

Oct. 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.

	Three Months Ended October 31,
	2015		2014
	(in thousands)
Basic weighted-average number of shares		11,810		11,398
Effect of dilutive securities:
Shares underlying stock options		—		10
Non-vested restricted Class B common stock		—		395
Diluted weighted-average number of shares		11,810		11,803

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,
	2015		2014
	(in thousands)
Shares underlying stock options		2		—
Non-vested restricted Class B common stock		239		—
Shares excluded from the calculation of diluted loss per share		241		—

For the three months ended October 31, 2015, 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.