Net income per share

3 Months Ended

Oct. 31, 2011

Net income per share

10. Net income per share:

Basic net income per share is computed using the weighted average number of common shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic net income per share. Diluted net income per share is computed using the sum of the weighted average number of common shares outstanding during the period and, if dilutive, the weighted average number of potential shares of common stock, including unvested restricted stock awards and the assumed exercise of stock options using the treasury stock method.

	Three Months Ended October 31,
	2011		2010
Income from continuing operations	$	4,026	$	1,381
Income from discontinued operations, net of tax		-		289
Gain on disposal of discontinued operations, net of tax		-		924
Net income	$	4,026	$	2,594
Weighted average number of common shares outstanding-basic		12,437,000		12,623,000
Effect of dilutive securities:
Stock options and restricted stock awards		111,000		54,000
Weighted average number of common shares outstanding-diluted		12,548,000		12,677,000
Basic net income per share:
Income from continuing operations	$	0.32	$	0.11
Income from discontinued operations, net of tax		-		0.02
Gain on disposal of discontinued operations, net of tax		-		0.08
Basic net income per share	$	0.32	$	0.21
Diluted net income per share:
Income from continuing operations	$	0.32	$	0.11
Income from discontinued operations, net of tax		-		0.02
Gain on disposal of discontinued operations, net of tax		-		0.07
Diluted net income per share	$	0.32	$	0.20
Anti-dilutive shares related to outstanding stock options and unvested restricted stock		274,000		227,000