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Net Income Per Share

9 Months Ended

Apr. 30, 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 April 30,		Nine Months Ended April 30,
(In thousands)	2021	2020	2021	2020
Weighted average common shares outstanding	236,396	234,133	236,110	232,647
Effect of dilutive securities	3,812	4,458	4,039	5,917
Weighted average common and dilutive potential common shares outstanding	240,208	238,591	240,149	238,564

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 1,280,000 and 200,167 options to purchase the Company’s common stock for the three months ended April 30, 2021 and 2020, respectively, and 3,180,000 and 400,167 options to purchase the Company’s common stock for the nine months ended April 30, 2021 and 2020, respectively, because their inclusion would have been anti-dilutive.