| Earnings Per Share Reconciliation |
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Three months ended
April 30, |
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Nine months ended
April 30, |
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2011 |
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2010 |
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2011 |
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2010 |
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Numerator: |
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Net income for basic calculation |
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$ 14,255,000 |
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21,796,000 |
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56,007,000 |
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47,161,000 |
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Effect of dilutive securities: |
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Interest expense (net of tax) on 3.0% convertible senior notes |
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1,117,000 |
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1,117,000 |
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3,351,000 |
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3,351,000 |
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Numerator for diluted calculation |
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$ 15,372,000 |
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22,913,000 |
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59,358,000 |
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50,512,000 |
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Denominator: |
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Denominator for basic calculation |
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26,577,000 |
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28,291,000 |
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27,310,000 |
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28,254,000 |
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Effect of dilutive securities: |
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Stock options |
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210,000 |
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307,000 |
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219,000 |
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332,000 |
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Conversion of 3.0% convertible senior notes |
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5,591,000 |
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5,488,000 |
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5,540,000 |
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5,488,000 |
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Denominator for diluted calculation |
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32,378,000 |
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34,086,000 |
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33,069,000 |
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34,074,000 | |