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Net Income Per Share

9 Months Ended

Apr. 30, 2019

NOTE 6 – 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)	2019	2018	2019	2018
Weighted average common shares outstanding	227,984	232,010	230,922	231,387
Effect of dilutive securities - stock options	9,908	10,950	10,236	9,643
Weighted average common and dilutive potential common shares outstanding	237,892	242,960	241,158	241,030

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 1,785,000 and 275,000 options to purchase the Company’s common stock for the three months ended April 30, 2019 and 2018, respectively, and 2,245,000 and 4,753,004 options to purchase the Company’s common stock for the nine months ended April 30, 2019 and 2018, respectively, because their inclusion would have been anti-dilutive.