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Basic and Diluted Net (Loss) Income Per Share
9 Months Ended
Jul. 31, 2023
Earnings Per Share [Abstract]  
Basic and Diluted Net (Loss) Income Per Share Basic and Diluted Net (Loss) Income Per ShareBasic 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 unvested, restricted stock and conversion of preferred stock. The computations for basic and diluted net (loss) income per common share are as follows (in thousands, except per share data):
 Three Months Ended
July 31,
Nine Months Ended
July 31,
 2023202220232022
Basic net (loss) income per common share:  
Net (loss) income applicable to common stock$(1,288)$7,252 $12,479 $2,044 
Effect of unvested, restricted stock(27)(79)(194)(42)
Numerator: Net (loss) income for basic EPS(1,315)7,173 12,285 2,002 
Denominator: Weighted average common shares-basic17,621 17,529 17,597 17,481 
Basic net (loss) income per common share$(0.07)$0.41 $0.70 $0.11 
Diluted net (loss) income per common share:  
Net (loss) income for basic EPS$(1,315)$7,173 $12,285 $2,002 
Effect of dilutive preferred stock— 125 376 — 
Numerator: Net (loss) income for diluted EPS(1,315)7,298 12,661 2,002 
Weighted average common shares–basic17,621 17,529 17,597 17,481 
Effect of dilutive preferred stock— 805 784 — 
Denominator: Weighted average common shares–diluted17,621 18,334 18,381 17,481 
Diluted net (loss) income per common share$(0.07)$0.40 $0.69 $0.11 
Diluted net (loss) income per common share is 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. Diluted net (loss) income per common share was calculated under the two-class method for the three and nine months ended July 31, 2023 and 2022.