Earnings Per Share

6 Months Ended

Apr. 30, 2020

Note 12. 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, 2020 and April 30, 2019:

	Three Months Ended April 30,				Six Months Ended April 30,
	2020		2019		2020		2019
Basic weighted-average common shares outstanding		63,108,468		62,957,854		62,941,904		62,994,738
Dilutive stock options		—		169,913		—		—
Dilutive restricted stock units		—		219,847		—		—
Dilutive performance stock units		—		—		—		—
Diluted weighted-average common shares outstanding		63,108,468		63,347,614		62,941,904		62,994,738

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, 2020 and April 30, 2019:

	Three Months Ended April 30,				Six Months Ended April 30,
	2020		2019		2020		2019
Anti-dilutive stock options		651,600		172,951		779,600		988,551
Anti-dilutive restricted stock units		2,724,840		497,925		2,905,823		1,750,723
Anti-dilutive performance stock units		—		18,408		—		18,408
Anti-dilutive common stock equivalents		3,376,440		689,284		3,685,423		2,757,682