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Basic and Diluted Earnings Per Share
 3 Months Ended
Jul. 31, 2012
Basic and Diluted Earnings Per Share

2. Basic and Diluted Earnings Per Share

Basic earnings per common share was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share reflects the potential dilution that would occur if all in-the-money outstanding options or other contracts to issue common stock were exercised or converted and was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding plus dilutive common equivalent shares. During the three months ended July 31, 2012 and 2011, SARs and options to purchase 0.8 million shares and 0.1 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

The following table summarizes basic and diluted earnings per share calculations:

 

     Three Months Ended
July 31,		  
     2012      2011  
     (in thousands, except per share data)  

Net earnings attributable to common stockholders:

    $ 10,418       $ 15,411   
  

 

 

     

 

 

  

Weighted-average common shares outstanding:

      

Basic weighted-average number of common shares outstanding

      46,810         45,969   

Effect of dilutive securities:

      

Restricted stock

      661         844   

Stock options

      184         483   

ESPP

      —           3   
  

 

 

     

 

 

  

Diluted weighted-average number of common shares outstanding

      47,655         47,299   
  

 

 

     

 

 

  

Net earnings per common share:

      

Basic earnings per share

    $ 0.22       $ 0.34   
  

 

 

     

 

 

  

Diluted earnings per share

    $ 0.22       $ 0.33