Net Income Per Share

3 Months Ended

Oct. 31, 2015

Earnings Per Share [Abstract]

Net Income Per Share

NOTE 7 – Net Income Per Share

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

	Three Months Ended   October 31,
(In thousands)	2015	2014
Weighted average common shares outstanding	120,155	126,217
Effect of dilutive securities - stock options	5,417	5,300
Weighted average common and dilutive potential common shares outstanding	125,572	131,517

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 7,676,298 and 5,111,371 stock options for the three months ended October 31, 2015 and 2014, respectively, because their inclusion would have been anti-dilutive.