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Net Income Per Share

6 Months Ended

Jan. 31, 2020

NOTE 8 – Net Income Per Share

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



	Three Months Ended January 31,		Six Months Ended January 31,
(In thousands)	2020	2019	2020	2019
Weighted average common shares outstanding	232,671	230,798	231,920	232,343
Effect of dilutive securities — stock options	5,799	9,862	6,646	10,400
Weighted average common and dilutive potential common shares outstanding	238,470	240,660	238,566	242,743

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 150,000 and 425,000 options to purchase the Company’s common stock for the three months ended January 31, 2020 and 2019, respectively, and 200,000 and 460,000 options to purchase the Company’s common stock for the six months ended January 31, 2020 and 2019, respectively, because their inclusion would have been anti-dilutive.