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Earnings (Loss) Per Share
 3 Months Ended
Oct. 31, 2022
Earnings (loss) per share attributable to IDT Corporation common stockholders:  
Earnings (Loss) Per Share

Note 14— Earnings (Loss) Per Share

 

Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive.

 

The weighted-average number of shares used in the calculation of basic and diluted earnings (loss) per share attributable to the Company’s common stockholders consists of the following:

 

  

2022

  

2021

 
  

Three Months Ended

October 31,

  

2022

  

2021

 
   (in thousands)
Basic weighted-average number of shares   25,603    25,566 
Effect of dilutive securities:          
Stock options   

12

    — 
Non-vested restricted Class B common stock   

1

    — 
Diluted weighted-average number of shares   25,616    25,566 

 

The following shares were excluded from the calculation of diluted earnings (loss) per share:

 

  

2022

  

2021

 
  

Three Months Ended

October 31,

  

2022

  

2021

 
   (in thousands)
Stock options   —    1,035 
Non-vested restricted Class B common stock   —    352 
Shares excluded from the calculation of diluted earnings per share   —    1,387 

 

The diluted loss per share equals basic loss per share in the three months ended October 31, 2021 because the Company had a net loss and the impact of the assumed exercise of stock options and the vesting of restricted stock would have been anti-dilutive.