Loss Per Share

3 Months Ended

Oct. 31, 2019

Earnings Per Share [Abstract]

Loss Per Share

Note 11—Loss 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 following shares were excluded from the diluted loss per share computations because their inclusion would have been anti-dilutive:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Stock options		1,190		1,243
Non-vested restricted Class B common stock		616		49
Shares excluded from the calculation of diluted earnings per share		1,806		1,292

The diluted loss per share equals basic loss per share in the three months ended October 31, 2019 and 2018 because the Company had a net loss and the impact of the assumed exercise of stock options and the vesting of restricted stock would have been anti-dilutive.