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EARNINGS PER SHARE
3 Months Ended
Jul. 31, 2025
EARNINGS PER SHARE  
EARNINGS PER SHARE

(12) EARNINGS PER SHARE

Earnings per share – basic is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding during the period includes shares issuable upon settlement of deferred stock units but does not include unvested shares of restricted common stock or shares issuable upon the exercise of stock options. The components of earnings per share – basic are as follows (amounts in thousands, except per share amounts):

    

Three Months Ended

July 31, 

2025

    

2024

Numerator:

  

 

  

Net income

$

4,692

$

4,064

Denominator:

 

  

 

  

Weighted average number of common shares outstanding – basic

 

5,326

 

5,309

Earnings per share – basic

$

0.88

$

0.77

Earnings per share – diluted is calculated by dividing net income by the sum of (1) the weighted average number of common shares outstanding during the period plus (2) the dilutive effects of unvested shares of restricted common stock, shares issuable upon the

exercise of stock options that are in-the-money and other potentially dilutive instruments. The components of earnings per share – diluted are as follows (amounts in thousands, except per share amounts):

    

Three Months Ended

July 31, 

2025

    

2024

Numerator:

 

  

 

  

Net income

$

4,692

 

$

4,064

Denominator:

Weighted average number of common shares outstanding – basic

5,326

5,309

Dilutive effect of unvested shares of restricted common stock

31

29

Dilutive effect of shares issuable upon the exercise of stock options that are in-the-money

18

15

Weighted average number of common shares outstanding – diluted

5,375

5,353

Earnings per share – diluted

$

0.87

 

$

0.76