Basic and Diluted Earnings Per Share

6 Months Ended

Oct. 31, 2014

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 and six months ended October 31, 2014, all shares of outstanding options were included in the computation of diluted earnings per share. During both the three and six months ended October 31, 2013, 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.

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


	Three Months Ended October 31,				Six Months Ended October 31,
	2014		2013		2014		2013
	(in thousands, except per share data)

Net earnings attributable to common stockholders	$	25,403	$	18,759	$	39,936	$	30,176


Weighted-average common shares outstanding:
Basic weighted-average number of common shares outstanding		49,082		48,118		48,893		47,892
Effect of dilutive securities:
Restricted stock		554		484		710		643
Stock options		104		214		117		213

Diluted weighted-average number of common shares outstanding		49,740		48,816		49,720		48,748


Net earnings per common share:
Basic earnings per share	$	0.52	$	0.39	$	0.82	$	0.63

Diluted earnings per share	$	0.51	$	0.38	$	0.80	$	0.62

- Definition

The entire disclosure for earnings per share.

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