Reconciliation of Weighted Average Shares Outstanding

3 Months Ended

Jul. 31, 2022

Reconciliation of Weighted Average Shares Outstanding [Abstract]

Reconciliation of Weighted Average Shares Outstanding

Note 8 — Reconciliation of Weighted Average Shares Outstanding

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

	Three Months Ended July 31,
	2022		2021
Weighted average shares outstanding		55,736		55,869
Shares used for basic (loss) earnings per share		55,736		55,869
Dilutive effect of unvested restricted stock units and other stock awards		—		730
Shares used for diluted (loss) earnings per share		55,736		56,599
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		1,211		930

In calculating diluted net loss per common share for the three months ended July 31, 2022 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.