XML 33 R22.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Basic and Diluted Net Income (Loss) Per Share
 6 Months Ended
Apr. 30, 2024
Earnings Per Share [Abstract]  
Basic and Diluted Net Income (Loss) Per Share Basic and Diluted Net Income (Loss) Per Share
Basic net income (loss) 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 income (loss) 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 income (loss) per common share are as follows (in thousands, except per share data):
 Three Months Ended
April 30,		Six Months Ended
April 30,
 2024202320242023
Basic net income (loss) per common share:  
Net income (loss) applicable to common stock$6,441 $(1,739)$2,731 $13,767 
Effect of unvested, restricted stock(101)(23)(47)(188)
Numerator: Net income (loss) for basic EPS6,340 (1,762)2,684 13,579 
Denominator: Weighted average common shares–basic17,707 17,597 17,677 17,587 
Basic net income (loss) per common share$0.36 $(0.10)$0.15 $0.77 
Diluted net income (loss) per common share:  
Net income (loss) for basic EPS$6,340 $(1,762)$2,684 $13,579 
Effect of dilutive preferred stock126 — — 251 
Numerator: Net income (loss) for diluted EPS6,466 (1,762)2,684 13,830 
Weighted average common shares–basic17,707 17,597 17,677 17,587 
Effect of dilutive preferred stock655 — — 741 
Denominator: Weighted average common shares–diluted18,362 17,597 17,677 18,328 
Diluted net income (loss) per common share$0.35 $(0.10)$0.15 $0.75 
Diluted net income (loss) 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 income (loss) per common share was calculated under the two-class method for the three and six months ended April 30, 2024 and 2023.