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Earnings Per Share
3 Months Ended
Jul. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

D. Earnings Per Share

Basic earnings per share is based on the weighted average number of common shares outstanding during the three month period. Diluted earnings per share reflects the assumed conversion and exercise of restricted stock units and outstanding stock options under the Company’s Omnibus Incentive Plan and previous stock option plans, except when such awards have an anti-dilutive effect. There were no antidilutive awards outstanding at July 31, 2018. Options to purchase 39,200 shares were not included in the computation of diluted earnings per share for the three month period ended July 31, 2017, because the option exercise prices were greater than the average market price of the common shares during the quarter, and accordingly, such stock options would have an antidilutive effect.