(LOSS) EARNINGS PER SHARE

3 Months Ended

Oct. 31, 2020

The following table reconciles (loss) earnings per share for the three months ended October 31, 2020 and 2019:


	Three Months Ended October 31,
	2020		2019
	(In thousands, except per share data)
Net (loss) income	$	(3,551)	$	4,792
Less: Preferred dividends on redeemable preferred stock	(537)		(536)
Net (loss) income attributable to common stockholders	(4,088)		4,256
7.50% Convertible Senior Note	—		592
Redeemable preferred stock	—		536
Net (loss) income attributable to common stockholders after assumed conversions	$	(4,088)	$	5,384

Weighted average common shares outstanding	61,893		61,401
Weighted average common equivalent shares arising from dilutive stock options, restricted stock, convertible note and convertible preferred stock	—		24,605
Weighted average number of common and potential common shares	61,893		86,006
Basic net (loss) income per share attributable to common stockholders	$	(0.07)	$	0.07
Diluted net (loss) income per share attributable to common stockholders	$	(0.07)	$	0.06

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

For the three months ended October 31, 2020, approximately 24.3 million common stock equivalent shares (including those related to convertible debt and preferred stock) were excluded from the denominator in the calculation of diluted net loss per share as their inclusion would have been antidilutive. For the three months ended October 31, 2019 approximately 0.3 million were excluded from the denominator in the calculation of diluted net earnings per share as their inclusion would have been antidilutive.