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Basic and Diluted Earnings Per Share
 9 Months Ended
Jan. 31, 2014
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 was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding plus dilutive common equivalent shares. Dilutive common equivalent shares include all in-the-money outstanding options or other contracts to issue common stock as if they were exercised or converted. During the three months ended January 31, 2014, all shares of outstanding options were included in the computation of diluted earnings per share. During the nine months ended January 31, 2014, options to purchase 0.1 million shares were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. During the three and nine months ended January 31, 2013, options to purchase 0.5 million shares and 0.6 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
January 31,		      Nine Months Ended
January 31,		  
     2014      2013      2014      2013  
     (in thousands, except per share data)  

Net earnings attributable to common stockholders

    $ 21,304       $ 9,482       $ 51,480       $ 21,096   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average common shares outstanding:

            

Basic weighted-average number of common shares outstanding

      48,341         47,367         48,041         47,149   

Effect of dilutive securities:

            

Restricted stock

      651         491         728         426   

Stock options

      189         157         208         167   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted weighted-average number of common shares outstanding

      49,181         48,015         48,977         47,742   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings per common share:

            

Basic earnings per share

    $ 0.44       $ 0.20       $ 1.07       $ 0.45   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted earnings per share

    $ 0.43       $ 0.20       $ 1.05       $ 0.44