Earnings Per Common Share

6 Months Ended

Jan. 31, 2015

Earnings Per Common Share

5. Earnings Per Common Share

	Three Months Ended January 31,				Six Months Ended January 31,
	2015		2014		2015		2014
Weighted average common shares outstanding for basic earnings per share		53,377,440		53,289,626		53,355,757		53,247,315
Stock options, unvested restricted stock and restricted stock units		81,091		63,401		88,973		78,936
Weighted average common shares outstanding for diluted earnings per share		53,458,531		53,353,027		53,444,730		53,326,251

The Company excludes stock options, unvested restricted stock and restricted stock units that have an antidilutive effect from its calculation of weighted average shares outstanding assuming dilution. At January 31, 2015 and 2014, the Company had 14,048 and 12,064, respectively, of stock options, unvested restricted stock and restricted stock units outstanding which were excluded from this calculation as their effect would be antidilutive.