Net Income Per Share

3 Months Ended

Oct. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Share

NOTE 8 – Net Income Per Share

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

	Three Months Ended October 31,
(In thousands)	2020	2019
Weighted average common shares outstanding	235,791	231,169
Effect of dilutive securities	4,177	7,493
Weighted average common and dilutive potential common shares outstanding	239,968	238,662

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 1,350,000 and 50,000 options to purchase the Company’s common stock for the three months ended October 31, 2020 and 2019, respectively, because their inclusion would have been anti-dilutive.