Earnings (Loss) Per Share

9 Months Ended

Apr. 30, 2017

Earnings (Loss) Per Share [Abstract]

Note 10 — Earnings (Loss) Per Share

Basic (loss) earnings per share is computed by dividing net (loss) income 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 sets forth the number of Class B shares of common stock issuable upon the exercise of stock options which were excluded from the diluted (loss) earnings per share calculation even though the exercise price was less than the average market price of the Class B common shares and non-vested restricted Class B common stock because the effect of including these potential shares was anti-dilutive due to the net loss incurred during that period:

	Three Months Ended April 30,				Nine Months Ended April 30,
	2017		2016		2017		2016
	(in thousands)
Stock options		45		3		22		4
Warrants		61		-		43		-
Non-vested restricted Class B common stock		265		179		225		175

Shares excluded from the calculation of diluted (loss) earnings per share		371		182		290		179

There were no stock options or warrants to purchase Class B common stock which were excluded from the diluted per share calculation because the exercise price was greater than the average market price of the Class B common shares.