Earnings Per Common Share

9 Months Ended

Apr. 30, 2015

Earnings Per Common Share

5. Earnings Per Common Share

	Three Months Ended April 30,				Nine Months Ended April 30,
	2015		2014		2015		2014
Weighted average common shares outstanding for basic earnings per share		53,380,651		53,289,864		53,363,872		53,261,186
Stock options, unvested restricted stock and restricted stock units		114,848		95,500		97,598		84,458
Weighted average common shares outstanding for diluted earnings per share		53,495,499		53,385,364		53,461,470		53,345,644

The Company excludes stock options, unvested restricted stock and restricted stock units that have an antidilutive effect from its calculation of weighted average shares outstanding assuming dilution. At April 30, 2015 and 2014, the Company had 25,290 and 20,318, respectively, of stock options, unvested restricted stock and restricted stock units outstanding which were excluded from this calculation as their effect would be antidilutive.