(13) EARNINGS PER SHARE

The Company calculates earnings per share in accordance with ASC Topic 260, “Earnings per Share.” The following table reconciles earnings per share for the three months ended October 31, 2018 and 2017:


	Three Months Ended
	October 31,
	2018			2017
	(In thousands, except per share data)
Net loss	$	(7,365	)	$	(5,237	)
Less: Preferred dividends on redeemable preferred stock		(536	)		—

Net loss attributable to common stockholders	$	(7,901	)	$	(5,237	)

Weighted average common shares outstanding		60,712			55,260
Weighted average common equivalent shares arising from dilutive stock options, restricted stock, convertible notes and convertible preferred stock		—			—

Weighted average number of common and potential common shares		60,712			55,260

Basic and diluted net loss per share attributable to common stockholders:	$	(0.13	)	$	(0.09	)

Basic loss per common share is calculated using the weighted-average number of common shares outstanding during the period. Diluted loss 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 or preferred stock conversion (calculated using an as-if converted method).

For the three months ended October 31, 2018 and 2017, approximately 29.5 million and 14.1 million, respectively, common stock equivalent shares were excluded from the denominator in the calculation of diluted loss per share as their inclusion would have been antidilutive.