Earnings Per Share

6 Months Ended

Apr. 30, 2019

Note 10. Earnings Per Share

Basic earnings per common share (“EPS”) is computed by dividing net (loss) income by the weighted average number of common shares outstanding. Diluted EPS is computed by dividing net (loss) income by the weighted-average number of common shares outstanding assuming dilution. The difference between basic EPS and diluted EPS is the result of the dilutive effect of outstanding stock options, performance stock units and restricted stock units. The table below reconciles basic weighted-average common shares outstanding to diluted weighted-average shares outstanding for the three and six months ended April 30, 2019 and April 30, 2018:

	Three Months Ended April 30,				Six Months Ended April 30,
	2019		2018		2019		2018
Basic weighted-average common shares outstanding		62,957,854		64,577,469		62,994,738		64,429,854
Dilutive stock options		169,913		1,689,419		—		1,944,297
Dilutive restricted stock units		219,847		706		—		14,616
Dilutive performance stock units		—		—		—		—
Diluted weighted-average common shares outstanding		63,347,614		66,267,594		62,994,738		66,388,767

The table below represents exclusions from the calculation of weighted-average shares outstanding assuming dilution due to the anti-dilutive effect of the common stock equivalents for the three and six months ended April 30, 2019 and April 30, 2018:

	Three Months Ended April 30,				Six Months Ended April 30,
	2019		2018		2019		2018
Anti-dilutive stock options		172,951		77,085		988,551		77,085
Anti-dilutive restricted stock units		497,925		503,412		1,750,723		376,239
Anti-dilutive performance stock units		18,408		—		18,408		—
Anti-dilutive common stock equivalents		689,284		580,497		2,757,682		453,324