Format content length if no excerpt is defined

functions.php

add_action ('the_content','my_excerpts');
function my_excerpts($content = false) {  
	global $post;
	// If is the home page, an archive, or search results
	if(is_front_page() || is_archive() || is_search() || is_tag()) :
		global $post;
		$content = $post->post_excerpt;
		// If an excerpt is set in the Optional Excerpt box
		if($content) :
			$content = apply_filters('the_excerpt', $content);
			// If no excerpt is set
		else :
			$content = $post->post_content;
			$excerpt_length = 55;
			$words = explode(' ', $content, $excerpt_length + 1);
			if(count($words) > $excerpt_length) :
				array_pop($words);
				array_push($words, '...');
				$content = implode(' ', $words);
			endif;
			$content = '
			' . $content . '
			';
		endif;
	endif;
	$morelink = '<a class="more-link alignright" href="'. get_permalink($post->ID) . '">Read Some More...</a>';
	// Make sure to return the content
	return $content.$morelink;
}