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Stockholders' Equity (Tables)
3 Months Ended
Jul. 31, 2015
Equity [Abstract]  
Reconciliation of Net Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Share

 

The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three months ended July 31, 2015 and 2014 (in thousands, except per share data):

    

 

 

For the Three Months Ended July 31,

 

 

2015

 

 

2014

 

 

Net

 

 

 

 

 

 

Per Share

 

 

Net

 

 

 

 

 

 

Per Share

 

 

Income

 

 

Shares

 

 

Amount

 

 

Income

 

 

Shares

 

 

Amount

 

Basic earnings

$

 

14,412

 

 

 

54,218

 

 

$

 

0.27

 

 

$

 

14,556

 

 

 

54,829

 

 

$

 

0.27

 

Effect of dilutive stock awards

 

 

 

 

1,259

 

 

 

 

(0.01

)

 

 

 

 

 

1,316

 

 

 

 

(0.01

)

Diluted earnings

$

 

14,412

 

 

 

55,477

 

 

$

 

0.26

 

 

$

 

14,556

 

 

 

56,145

 

 

$

 

0.26

 

 

Share Based Compensation Stock Options Activity

The number of shares and weighted average exercise prices of options for the three months ended July 31, 2015 and 2014 were as follows:

 

 

For the Three Months Ended July 31,

 

 

2015

 

 

2014

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

Shares

 

 

Exercise Price

 

 

Shares

 

 

Exercise Price

 

Options outstanding, beginning of year

 

1,879,630

 

 

$

6.37

 

 

 

2,258,349

 

 

$

6.15

 

Exercised during the period

 

(132,599

)

 

 

4.78

 

 

 

(99,554

)

 

 

4.25

 

Options outstanding, end of period

 

1,747,031

 

 

$

6.49

 

 

 

2,158,795

 

 

$

6.24

 

Weighted average remaining contractual life

5.04 years

 

 

 

 

 

 

5.82 years

 

 

 

 

 

Options exercisable, end of period

 

1,745,865

 

 

$

6.48

 

 

 

1,892,631

 

 

$

6.23

 

Weighted average remaining contractual life

5.04 years

 

 

 

 

 

 

5.60 years

 

 

 

 

 

 

Summary of Activity in Unvested RSUs and PSUs

A summary of activity in unvested RSUs and PSUs for the three months ended July 31, 2015 and 2014 is as follows:

 

 

For the Three Months Ended July 31,

 

 

2015

 

 

2014

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

Total # of

 

 

Average

 

 

Total # of

 

 

Average

 

 

Restricted

 

 

Grant Date

 

 

Restricted

 

 

Grant Date

 

 

Stock Units

 

 

Fair Value

 

 

Stock Units

 

 

Fair Value

 

RSUs and PSUs outstanding, beginning of year

 

1,190,879

 

 

$

12.45

 

 

 

1,015,475

 

 

$

10.56

 

Awarded

 

245,594

 

 

 

14.27

 

 

 

164,600

 

 

 

13.00

 

Vested

 

(274,143

)

 

 

10.53

 

 

 

(117,004

)

 

 

10.76

 

Forfeited

 

(65,913

)

 

 

10.16

 

 

 

(3,699

)

 

 

10.98

 

RSUs and PSUs outstanding, end of period

 

1,096,417

 

 

$

13.36

 

 

 

1,059,372

 

 

$

11.93