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Net Income Per Share

6 Months Ended

Jan. 31, 2021

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)	2021	2020	2021	2020
Weighted average common shares outstanding	236,152	232,671	235,971	231,920
Effect of dilutive securities	4,128	5,799	4,153	6,646
Weighted average common and dilutive potential common shares outstanding	240,280	238,470	240,124	238,566

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 550,000 and 150,000 options to purchase the Company’s common stock for the three months ended January 31, 2021 and 2020, respectively, and 1,900,000 and 200,000 options to purchase the Company’s common stock for the six months ended January 31, 2021 and 2020, respectively, because their inclusion would have been anti-dilutive.