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Net income per common share
 9 Months Ended
Apr. 30, 2017
Earnings Per Share [Abstract]  
Net income per common share

12. 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

 

 

Nine Months Ended

 

 

 

April 30,

 

 

April 30,

 

(in millions, except per share data and share data in thousands)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Net (loss) income

 

$

(59.7

)

 

$

5.0

 

 

$

(49.6

)

 

$

3.4

 

Weighted average number of common shares

   outstanding-basic

 

 

12,486

 

 

 

12,392

 

 

 

12,457

 

 

 

12,412

 

Effect of dilutive securities:

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Stock options and restricted stock units

 

 

-

 

 

 

161

 

 

 

-

 

 

 

211

 

Weighted average number of common shares

   outstanding-diluted

 

 

12,486

 

 

 

12,553

 

 

 

12,457

 

 

 

12,623

 

Basic net (loss) income per share

 

$

(4.78

)

 

$

0.40

 

 

$

(3.98

)

 

$

0.27

 

Diluted net (loss) income per share

 

$

(4.78

)

 

$

0.40

 

 

$

(3.98

)

 

$

0.27

 

Anti-dilutive shares related to outstanding stock options

   and unvested restricted stock  (A)

 

 

242

 

 

 

87

 

 

 

228

 

 

 

5

 

 

(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.