• Filing Date: 2020-06-12
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.1
Earnings Per Share
9 Months Ended
Apr. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

Note 7—Earnings Per Share

 

Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture, issuances to be made on the vesting of unvested DSUs and the exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive.

 

The weighted-average number of shares used in the calculation of basic and diluted earnings per share attributable to the Company's common stockholders consists of the following:

 

   Three Months Ended   Nine Months Ended 
   April 30,   April 30, 
   2020   2019   2020   2019 
   (in thousands) 
Basic weighted-average number of shares   11,979    10,116    10,793    10,063 
Effect of dilutive securities:                    
Stock options   -    -    -    - 
Non-vested restricted Class B common stock   -    -    -    - 
Deferred stock units   -    -    -    - 
Diluted weighted-average number of shares   11,979    10,116    10,793    10,063 

 

The following shares were excluded from the dilutive earnings per share computations because their inclusion would have been anti-dilutive:

 

   Three Months Ended   Nine Months Ended 
   April 30,   April 30, 
   2020   2019   2020   2019 
   (in thousands)                 
Stock options   1,326    1,277    1,326    1,277 
Non-vested restricted Class B common stock   120    217    120    217 
Deferred stock units   69    -    69    - 
Shares excluded from the calculation of diluted earnings per share   1,515    1,494    1,515    1,494 

 

For the three and nine months ended April 30, 2020 and 2019, the diluted earnings per share equals basic earnings per share because the Company incurred a net loss during those periods and the impact of the assumed exercise of stock options and vesting of restricted stock would have been anti-dilutive.