Net Income Per Share

9 Months Ended

Apr. 30, 2018

NOTE 5 – Net Income Per Share

The table below reconciles basic weighted average shares outstanding to diluted weighted average shares outstanding:



	Three Months Ended April 30,		Nine Months Ended April 30,
(In thousands)	2018	2017	2018	2017
Weighted average common shares outstanding	232,010	229,920	231,387	228,146
Effect of dilutive securities - stock options	10,950	7,215	9,643	8,662
Weighted average common and dilutive potential common shares outstanding	242,960	237,135	241,030	236,808

There were no material adjustments to net income required in calculating diluted net income per share. Excluded from the dilutive earnings per share calculation were 275,000 and 894,782 shares underlying outstanding stock options for the three months ended April 30, 2018 and 2017, respectively, and 4,753,004 and 2,169,026 for the nine months ended April 30, 2018 and 2017, respectively, because their inclusion would have been anti-dilutive.