Earnings Per Share

3 Months Ended

Oct. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 6—Earnings Per Share

Basic earnings per share is computed by dividing net (loss) 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 (non-vested) and to assume 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 October 31,
	2011		2010
	(in thousands)
Basic weighted-average number of shares		20,365		20,544
Effect of dilutive securities:
Stock options		—		2
Non-vested restricted common stock		—		780
Non-vested restricted Class B common stock		—		1,052
Diluted weighted-average number of shares		20,365		22,378

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

	Three Months Ended October 31,
	2011		2010
	(in thousands)
Stock options		468		593
Non-vested restricted Class B common stock		2,407		—
Shares excluded from the calculation of diluted earnings per share		2,875		593

For the three months ended October 31, 2011, the diluted earnings per share equals basic earnings per share because the Company had a loss from continuing operations and the impact of the assumed exercise of stock options and assumed vesting of non-vested restricted stock would have been anti-dilutive. For the three months ended October 31, 2010, outstanding stock options for which the exercise price of the stock option was greater than the average market price of the Company’s stock during the period were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.