Net Income Per Common Share (Tables)

9 Months Ended

Apr. 30, 2016

Computation of Basic and Diluted Net Income Per Share

Basic and diluted net income per share are calculated as follows:

	Three Months Ended April 30,				Nine Months Ended April 30,
(in millions, except per share data and share data in thousands)	2016		2015		2016		2015
Net income	$	5.0	$	9.1	$	3.4	$	22.6
Weighted average number of common shares outstanding-basic		12,392		12,419		12,412		12,401
Effect of dilutive securities:
Stock options and restricted stock units		161		184		211		200
Weighted average number of common shares outstanding-diluted		12,553		12,603		12,623		12,601
Basic net income per share	$	0.40	$	0.73	$	0.27	$	1.82
Diluted net income per share	$	0.40	$	0.72	$	0.27	$	1.79
Anti-dilutive shares related to outstanding stock options and unvested restricted stock (A)		87		16		5		179

(A) These shares related to outstanding stock options and unvested restricted stock. These shares were not included in our calculations of diluted earnings per share, as the effect of including them would be anti-dilutive.