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Earnings (Loss) Per Share
 9 Months Ended
Apr. 30, 2015
Earnings (Loss) Per Share

(13) EARNINGS (LOSS) PER SHARE

The Company calculates earnings (loss) per share in accordance with ASC Topic 260, “Earnings per Share.” The following table reconciles earnings (loss) per share for the three and nine months ended April 30, 2015 and 2014.

 

     Three Months Ended
April 30,		      Nine Months Ended
April 30,		  
     2015      2014      2015      2014  
     (In thousands, except per share amounts)  

Loss from continuing operations

    $ (12,106 )     $ (9,478 )     $ (13,440 )     $ (7,877 ) 

Income from discontinued operations

      —           —           —           80   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net loss

 $ (12,106 )  $ (9,478 )  $ (13,440 )  $ (7,797 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

   51,750      51,498      51,917      51,502   

Weighted average common equivalent shares arising from dilutive stock options and restricted stock

   —        —        —        —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average number of common and potential common shares

   51,750      51,498      51,917      51,502   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic net income (loss) per common share from:

Continuing operations

 $ (0.23 )  $ (0.18 )  $ (0.26 )  $ (0.15 ) 

Discontinued operations

   —        —        —        —     
  

 

 

     

 

 

     

 

 

     

 

 

  
$ (0.23 )  $ (0.18 )  $ (0.26 )  $ (0.15 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted net income (loss) per common share from:

Continuing operations

 $ (0.23 )  $ (0.18 )  $ (0.26 )  $ (0.15 ) 

Discontinued operations

   —        —        —        —     
  

 

 

     

 

 

     

 

 

     

 

 

  
$ (0.23 )  $ (0.18 )  $ (0.26 )  $ (0.15 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic earnings per common share is calculated using the weighted-average number of common shares outstanding during the period. Diluted earnings per common share, if any, gives effect to diluted stock options (calculated based on the treasury stock method), non-vested restricted stock shares purchased under the employee stock purchase plan and shares issuable upon debt conversion (calculated using an as-if converted method).

For the three and nine months ended April 30, 2015, approximately 20.5 million and 21.1 million, respectively, common stock equivalent shares were excluded from the denominator in the calculation of diluted earnings per share as their inclusion would have been antidilutive.

For the three and nine months ended April 30, 2014, approximately 4.2 million and 4.8 million, respectively, common stock equivalent shares were excluded from the denominator in the calculation of diluted earnings per share as their inclusion would have been antidilutive.