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Net Income (Loss) Per Share
6 Months Ended
Oct. 31, 2021
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share

11. Net Income (Loss) Per Share

Basic net income (loss) per share is computed using the weighted-average number of shares outstanding during the period. Diluted net income (loss) per share uses the weighted-average number of shares outstanding during the period plus the dilutive effect of stock-based compensation calculated using the treasury stock method.

Weighted average shares used in the computation of basic and diluted net income (loss) per share are as follows:

 

 

 

Three months ended

 

(amounts in thousands)

 

October 31, 2021

 

 

November 1, 2020

 

Weighted average common shares outstanding, basic

 

 

12,223

 

 

 

12,298

 

Dilutive effect of stock-based compensation

 

 

93

 

 

 

26

 

Weighted average common shares outstanding, diluted

 

 

12,316

 

 

 

12,324

 

 

During the second quarter of fiscal 2022 and 2021, 13,484 and 1,101 shares, respectively, of unvested common stock were not included in the computation of diluted net income per share, as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards.

 

 

 

 

 

Six months ended

 

(amounts in thousands)

 

October 31, 2021

 

 

November 1, 2020

 

Weighted average common shares outstanding, basic

 

 

12,268

 

 

 

12,293

 

Dilutive effect of stock-based compensation

 

 

101

 

 

 

 

Weighted average common shares outstanding, diluted

 

 

12,369

 

 

 

12,293

 

 

 

 

During the first half of fiscal 2022, 1,561 shares of unvested common stock were not included in the computation of diluted net income per share, as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards.

 

During the second half of fiscal 2021, 38,313 shares of unvested common stock were not included in the computation of diluted net loss per share, as their effect would be antidilutive. Of the 38,313 shares of unvested common stock, 26,099 shares were antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards. In addition, 12,214 shares of unvested common stock were not included in the computation as we incurred a net loss during the reporting period.