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Earnings (Loss) Per Common Share
 9 Months Ended
Jan. 31, 2017
Earnings (Loss) Per Common Share  
Earnings (Loss) Per Common Share

12. Earnings (Loss) Per Common Share

The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the three and nine months ended January 31, 2017 and 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

January 31, 

 

January 31, 

 

 

    

2017

 

2016

    

2017

 

2016

    

Net income (loss)

 

$
8,227

    

$
(2,212)

 

$
34,614

    

$
3,624

 

Basic earnings (loss) per common share:

 

 

  

 

 

 

 

 

  

 

 

 

 

Basic weighted average shares outstanding per common share

 

 
40,942,905

 

 
32,890,930

 

 
40,035,450

 

 
32,768,418

 

Basic earnings (loss) per common share

 

$
0.20

 

$
(0.07)

 

$
0.86

 

$
0.11

 

Diluted earnings (loss) per common share:

 

 

  

 

 

  

 

 

  

 

 

  

 

Basic weighted average shares outstanding per common share

 

 
40,942,905

 

 
32,890,930

 

 
40,035,450

 

 
32,768,418

 

Add: Shares of common stock assumed issued upon exercise of stock options

 

 
634,770

 

 

 —

 

 
634,770

 

 
218,752

 

Diluted weighted average shares outstanding per common share

 

 
41,577,675

 

 
32,890,930

 

 
40,670,220

 

 
32,987,170

 

Diluted earnings (loss) per common share

 

$
0.20

 

$
(0.07)

 

$
0.85

 

$
0.11

 

 

For the three months ended January 31, 2016, shares of common stock issued upon exercise of stock options of 218,752 shares were not included in the calculation of Diluted loss per common share since the impact would be anti-dilutive.