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Net Income (Loss) per Common Share
 9 Months Ended
Oct. 31, 2020
Net Income (Loss) per Common Share  
Net Income (Loss) per Common Share

Note 8 – Net Income per Common Share

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Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock unit awards and stock options outstanding during the period. Approximately 262,100 and 215,600 shares of common stock have been excluded from the diluted net income per share calculation for the three and nine months ended October 31, 2020, respectively. Approximately 846,200 and 680,700 shares of common stock were excluded from the diluted net income per share calculation for the three and nine months ended October 31, 2019, 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.

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

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Three Months Ended October 31,

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Nine Months Ended October 31,

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2020

    

2019

    

2020

    

2019

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(In thousands, except per share amounts)

Net income

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$

63,174

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$

95,387

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$

8,903

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$

118,549

Basic net income per share:

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​

​

​

​

​

​

​

​

​

​

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Basic common shares

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​

48,359

​

​

47,768

​

​

48,201

​

​

48,333

Basic net income per share

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$

1.31

​

$

2.00

​

$

0.18

​

$

2.45

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​

​

​

​

​

​

​

​

​

​

​

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Diluted net income per share:

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​

​

​

​

​

​

​

​

​

​

​

Basic common shares

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​

48,359

​

​

47,768

​

​

48,201

​

​

48,333

Dilutive restricted stock unit awards and stock options

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​

450

​

​

588

​

​

388

​

​

723

Diluted common shares

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​

48,809

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​

48,356

​

​

48,589

​

​

49,056

Diluted net income per share

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$

1.29

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$

1.97

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$

0.18

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$

2.42

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