| Schedule of computation of basic and diluted EPS available to stockholders of common stock (excluding participating securities) |
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Three Months Ended
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Nine Months Ended
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April 30,
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April 30,
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2015
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2014
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2015
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2014
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Numerator for basic and diluted earnings per share:
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Net income
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$
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12,356,000
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$
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10,249,000
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$
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34,680,000
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$
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32,560,000
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Less income allocated to participating securities
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(105,000
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)
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(135,000
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)
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(323,000
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)
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(444,000
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)
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Net income available to common stockholders
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$
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12,251,000
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$
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10,114,000
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$
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34,357,000
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$
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32,116,000
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Denominator for basic and diluted earnings per share, as adjusted for participating securities:
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Denominator for basic earnings per share - weighted average number of shares outstanding attributable to common stock
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41,187,720
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40,813,778
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41,114,830
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40,716,018
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Dilutive effect of stock options using the treasury stock method and the average market price for the period
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60,837
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143,319
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68,479
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174,107
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Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock
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41,248,557
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40,957,097
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41,183,309
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40,890,125
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Earnings per share attributable to common stock:
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Basic earnings per share
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$
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0.30
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$
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0.25
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$
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0.84
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$
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0.79
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Diluted earnings per share
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$
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0.30
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$
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0.25
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$
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0.83
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$
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0.79
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Stock options excluded from weighted average dilutive common shares outstanding because their inclusion would have been antidilutive
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—
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30,000
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—
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—
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| Schedule of reconciliation of weighted average number of shares and common stock equivalents attributable to common stock to the Company's total weighted average number of shares and common stock equivalents including participating securities |
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Three Months Ended
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Nine Months Ended
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April 30,
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April 30,
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|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Denominator for diluted earnings per share - weighted average number of shares and common stock equivalents attributable to common stock
|
|
41,248,557
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|
40,957,097
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|
41,183,309
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|
40,890,125
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|
|
|
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Participating securities
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342,850
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544,752
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390,449
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566,545
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Total weighted average number of shares and common stock equivalents attributable to both common stock and participating securities
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41,591,407
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41,501,849
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41,573,758
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41,456,670
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