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Basic and Diluted Net (Loss) Income per Share
 6 Months Ended
Apr. 30, 2020
Earnings Per Share [Abstract]  
Basic and Diluted Net (Loss) Income per Share
Basic and Diluted Net (Loss) Income per Share

Basic net (loss) income per common share is calculated using the weighted-average number of common shares outstanding during the period without consideration of the dilutive effect of conversion of preferred stock. Diluted net (loss) income per common share is calculated using the weighted-average number of common shares outstanding during the period plus the dilutive effect of conversion of unvested, restricted stock and preferred stock. The computations for basic and diluted net (loss) income per common share are as follows (in thousands, except per share amounts):
 
Three Months Ended
April 30,
 
Six Months Ended
April 30,
 
2020
 
2019
 
2020
 
2019
Basic net (loss) income per common share:
 

 
 

 
 
 
 
Net (loss) income applicable to common stock
$
(5,009
)
 
$
2,689

 
$
(11,561
)
 
$
(2,129
)
Effect of unvested, restricted stock
(17
)
 
(16
)
 
(34
)
 
(33
)
Numerator: Net (loss) income for basic EPS
(5,026
)
 
2,673

 
(11,595
)
 
(2,162
)
Denominator: Weighted average common shares-basic
17,634

 
17,554

 
17,602

 
17,516

Basic net (loss) income per common share
$
(0.29
)
 
$
0.15

 
$
(0.66
)
 
$
(0.12
)
Diluted net (loss) income per common share:
 

 
 

 
 
 
 
Numerator: Net (loss) income for diluted EPS
$
(5,026
)
 
$
2,815

 
$
(11,595
)
 
$
(2,162
)
Weighted average common shares–basic
17,634

 
17,554

 
17,602

 
17,516

Effect of dilutive unvested, restricted stock and preferred stock
—

 
671

 
—

 
—

Denominator: Weighted average common shares–diluted
17,634

 
18,225

 
17,602

 
17,516

Diluted net (loss) income per common share
$
(0.29
)
 
$
0.15

 
$
(0.66
)
 
$
(0.12
)


Diluted (losses) earnings per common share are computed using the more dilutive method of either the two-class method or the treasury stock method. Unvested stock-based compensation awards that contain non-forfeitable rights to dividends as participating shares are included in computing earnings per share. The Company’s unvested, restricted stock awards qualify as participating shares. The Company excluded 220,000 and 140,000, unvested, restricted shares, as calculated under the treasury stock method, from its computation of diluted (losses) earnings per share for the three months ended April 30, 2020 and 2019, respectively, and 196,000 and 219,000 for the six months ended April 30, 2020 and 2019, respectively.