Earnings Per Share

3 Months Ended

Oct. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 6—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 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,
	2013		2012
	(in thousands)
Basic weighted-average number of shares		21,038		20,807
Effect of dilutive securities:
Stock options		87		—
Non-vested restricted Class B common stock		1,787		1,277
Diluted weighted-average number of shares		22,912		22,084

The following 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:

	Three Months Ended October 31,
	2013		2012
	(in thousands)
Shares excluded from the calculation of diluted earnings per share		69		704