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Net Income (Loss) per Common Share

6 Months Ended

Jul. 31, 2018

Note 5 – Net Income (Loss) per Common Share

Basic net income (loss) per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock awards and stock options outstanding during the period. Approximately 327,000 and 1,259,000 shares of common stock have been excluded from the diluted net income (loss) per share calculation for the three months ended July 31, 2018 and 2017, respectively. Approximately 322,000 and 1,246,000 shares of common stock have been excluded from the diluted net income (loss) per share calculation for the six months ended July 31, 2018 and 2017, respectively. All share based payments outstanding that vest based on the achievement of performance and/or market price conditions, and for which the respective performance and/or market price conditions have not been achieved, have been excluded from the diluted per share calculation.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income (loss) per share:

	Three Months Ended					Six Months Ended
	July 31,					July 31,
	2018		2017			2018		2017
	(In thousands, except per share amounts)
Net income (loss)	$	10,077	$	(8,568	)	$	19,962	$	(18,959	)
Basic net income (loss) per share:
Basic common shares		49,169		48,689			49,148		48,669
Basic net income (loss) per share	$	0.20	$	(0.18	)	$	0.41	$	(0.39	)

Diluted net income (loss) per share:
Basic common shares		49,169		48,689			49,148		48,669
Diluted restricted stock awards and stock options		1,246		—			1,124		—
Diluted common shares		50,415		48,689			50,272		48,669
Diluted net income (loss) per share	$	0.20	$	(0.18	)	$	0.40	$	(0.39	)