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Net income per common share
 6 Months Ended
Jan. 31, 2017
Earnings Per Share [Abstract]  
Net income per common share

13. Net income per common share

Basic net income per share is computed using the weighted average number of common shares outstanding during the period. 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 and the assumed exercise of stock options using the treasury stock method.

 

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

 

     Three Months Ended      Six Months Ended  
     January 31,      January 31,  
(in millions, except per share data and share data in thousands)    2017      2016      2017      2016  

Net income (loss)

    $ 7.5      $ (3.0 )     $ 10.0      $ (1.6 ) 

Weighted average number of common shares outstanding-basic

      12,466        12,418        12,442        12,422  

Effect of dilutive securities:

      —          —          —          —    

Stock options and restricted stock units

      214        —          270        —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average number of common shares outstanding-diluted

      12,680        12,418        12,712        12,422  
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic net income (loss) per share

    $ 0.60      $ (0.24 )     $ 0.81      $ (0.13 ) 

Diluted net income (loss) per share

    $ 0.59      $ (0.24 )     $ 0.79      $ (0.13 ) 

Anti-dilutive shares related to outstanding stock options

and unvested restricted stock (A)

      372        326        372        357  

 

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