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Earnings Per Share
 6 Months Ended
Jan. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

Note 7—Earnings 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, issuances to be made on the vesting of unvested DSUs and the 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 per share attributable to the Company’s common stockholders consists of the following:


   Three Months Ended
January 31,		   Six Months Ended
January 31,		 
   2021   2020   2021   2020 
   (in thousands) 
Basic weighted-average number of shares   12,633    10,229    12,412    10,212 
Effect of dilutive securities:                    
Stock options   698    371    472    - 
Non-vested restricted Class B common stock   73    3    44    - 
Deferred stock units   27    12    21    - 
Diluted weighted-average number of shares   13,431    10,615    12,949    10,212 

The following shares were excluded from the dilutive earnings per share computations because their inclusion would have been anti-dilutive


   Three Months Ended
January 31,		   Six Months Ended
January 31,		 
   2021   2020   2021   2020 
   (in thousands) 
Stock options   14    937    215    1,330 
Non-vested restricted Class B common stock   -    141    -    172 
Deferred stock units   -    -    -    93 
Shares excluded from the calculation of diluted earnings per share   14    1,078    215    1,595 

For the six months ended January 31, 2020, the diluted earnings per share equals basic earnings per share because the Company incurred a net loss during that period and the impact of the assumed exercise of stock options and vesting of restricted stock and DSUs would have been anti-dilutive.