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Stockholders' Equity (Tables)
9 Months Ended
Jan. 31, 2016
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 and nine months ended January 31, 2016 and 2015 (in thousands, except per share data):

    

 

 

For the Three Months Ended January 31,

 

 

2016

 

 

2015

 

 

Net

 

 

 

 

 

 

Per Share

 

 

Net

 

 

 

 

 

 

Per Share

 

 

Income

 

 

Shares

 

 

Amount

 

 

Income

 

 

Shares

 

 

Amount

 

Basic earnings

$

 

31,434

 

 

 

54,857

 

 

$

 

0.57

 

 

$

 

8,121

 

 

 

53,724

 

 

$

 

0.15

 

Effect of dilutive stock awards

 

 

 

 

1,124

 

 

 

 

(0.01

)

 

 

 

 

 

1,135

 

 

 

 

Diluted earnings

$

 

31,434

 

 

 

55,981

 

 

$

 

0.56

 

 

$

 

8,121

 

 

 

54,859

 

 

$

 

0.15

 

 

 

 

For the Nine Months Ended January 31,

 

2016

 

 

2015

 

 

 

Net

 

 

 

 

 

 

Per Share

 

 

Net

 

 

 

 

 

 

Per Share

 

 

 

Income

 

 

Shares

 

 

Amount

 

 

Income

 

 

Shares

 

 

Amount

 

 

Basic earnings

$

 

58,311

 

 

 

54,508

 

 

$

 

1.07

 

 

$

 

27,725

 

 

 

54,033

 

 

$

 

0.51

 

 

Effect of dilutive stock awards

 

 

 

 

1,276

 

 

 

 

(0.02

)

 

 

 

 

 

1,225

 

 

 

 

(0.01

)

 

Diluted earnings

$

 

58,311

 

 

 

55,784

 

 

$

 

1.05

 

 

$

 

27,725

 

 

 

55,258

 

 

$

 

0.50

 

 

 

Share Based Compensation Stock Options Activity

The number of shares and weighted average exercise prices of options for the nine months ended January 31, 2016 and 2015 were as follows:

 

 

For the Nine Months Ended January 31,

 

 

2016

 

 

2015

 

 

 

 

 

 

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

 

(707,179

)

 

 

8.26

 

 

 

(222,884

)

 

 

4.62

 

Canceled/forfeited during period

 

 

 

 

 

(13,000

)

 

 

7.98

 

Options outstanding, end of period

 

1,172,451

 

 

$

5.23

 

 

 

2,022,465

 

 

$

6.31

 

Weighted average remaining contractual life

5.07 years

 

 

 

 

 

 

5.28 years

 

 

 

 

 

Options exercisable, end of period

 

1,172,457

 

 

$

5.23

 

 

 

1,943,800

 

 

$

6.23

 

Weighted average remaining contractual life

5.07 years

 

 

 

 

 

 

5.20 years

 

 

 

 

 

 

Summary of Activity in Unvested RSUs and PSUs

A summary of activity in unvested RSUs and PSUs for the nine months ended January 31, 2016 and 2015 is as follows:

 

 

For the Nine Months Ended January 31,

 

 

2016

 

 

2015

 

 

 

 

 

 

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

 

282,852

 

 

 

14.44

 

 

 

499,200

 

 

 

10.51

 

Vested

 

(363,285

)

 

 

10.36

 

 

 

(318,171

)

 

 

8.75

 

Forfeited

 

(82,390

)

 

 

10.81

 

 

 

(96,204

)

 

 

12.42

 

RSUs and PSUs outstanding, end of period

 

1,028,056

 

 

$

13.65

 

 

 

1,100,300

 

 

$

11.87