Reconciliation of Weighted Average Shares Outstanding

12 Months Ended

Apr. 30, 2022

Reconciliation of Weighted Average Shares Outstanding [Abstract]

Reconciliation of Weighted Average Shares Outstanding

Note 5 – Reconciliation of Weighted Average Shares Outstanding

A reconciliation of the shares used in the computation of earnings (loss) per share follows (shares in thousands):

	For the Years Ended April 30,
	2022		2021			2020
Weighted average shares outstanding		55,759		55,931			56,224
Less: Unvested restricted shares		—		(1	)		(15	)
Shares used for basic earnings (loss) per share		55,759		55,930			56,209
Dilutive effect of unvested restricted stock units and other stock awards		839		531			—
Shares used for diluted earnings (loss) per share		56,598		56,461			56,209
Antidilutive options to purchase Class A common shares, restricted shares, warrants to purchase Class A common shares and contingently issuable restricted stock which are excluded from the table above		772		982			1,677

In calculating diluted net loss per common share for the year ended April 30, 2020, our diluted weighted average number of common shares outstanding excludes the effect of unvested restricted stock units and other stock awards as the effect was anti-dilutive. This occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive.

The shares associated with performance-based stock awards are considered contingently issuable shares and will be included in the diluted weighted average number of common shares outstanding when they have met the performance conditions and when their effect is dilutive.