Net Income Per Share

6 Months Ended

Jan. 31, 2016

NOTE 6 – Net Income Per Share

The table below reconciles basic weighted shares outstanding to diluted weighted average shares outstanding:



	Three Months Ended January 31,		Six Months Ended January 31,
(In thousands)	2016	2015	2016	2015
Weighted average common shares outstanding	117,306	126,300	118,731	126,258
Effect of dilutive securities - stock options	5,602	5,572	5,509	5,436
Weighted average common and dilutive potential common shares outstanding	122,908	131,872	124,240	131,694

There were no material adjustments to net income required in calculating diluted net income per share. Excluded from the dilutive earnings per share calculation were 7,750,598 and 5,104,400 stock options for the three months ended January 31, 2016 and 2015, respectively, and 7,713,448 and 5,148,374 shares for the six months ended January 31, 2016 and 2015, respectively, because their inclusion would have been anti-dilutive.