5. Net income per 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. Options to purchase common shares with exercise prices that exceeded the market value of the underlying common stock are excluded from the computation of diluted earnings per share.

The following table sets forth the computation of basic and diluted net income per share for fiscal years 2017, 2016 and 2015:

	For the Year ended
	July 31,
(in millions, except per share data and share data in thousands)	2017			2016		2015
Net (loss) income	$	(74.2	)	$	12.1	$	33.5
Weighted average number of common shares outstanding-basic		12,456			12,402		12,407
Effect of dilutive securities:
Stock options and restricted stock units		-			213		199
Weighted average number of common shares outstanding-diluted		12,456			12,615		12,606
Basic net (loss) income per share	$	(5.96	)	$	0.98	$	2.70
Diluted net (loss) income per share	$	(5.96	)	$	0.96	$	2.66
Anti-dilutive shares related to outstanding stock options and unvested restricted stock (A)		143			5		176

(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.