Net Income Per Share

3 Months Ended

Oct. 31, 2012

Net Income Per Share

9. 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,
	2012		2011
Net income	$	4,381	$	4,026
Weighted average number of common shares outstanding-basic		12,323		12,437
Effect of dilutive securities:
Stock options and restricted stock awards		259		111
Weighted average number of common shares outstanding-diluted		12,582		12,548
Basic net income per share	$	0.36	$	0.32
Diluted net income per share	$	0.35	$	0.32
Anti-dilutive shares related to outstanding stock options and unvested restricted stock awards (A)		29		274

(A) Certain outstanding stock options were not included in the computation of diluted income per share because the options’ exercise prices were greater than the average market price of the Common Stock and, therefore, the effect would be anti-dilutive. Certain restricted stock units and awards were also excluded from the computation as their effect would be anti-dilutive.