Earnings Per Common Share

9 Months Ended

Jan. 31, 2022

The following table sets forth the computation of basic and diluted earnings per share of common stock:


	Three Months Ended January 31,				Nine Months Ended January 31,
	2022		2021		2022		2021
	(in thousands, except per share data)
Net income	$	61,383	$	16,126	$	196,946	$	71,814
Basic earnings per common share:
Basic weighted average common shares outstanding	43,094		42,726		43,106		42,691
Basic earnings per common share	$	1.42	$	0.38	$	4.57	$	1.68
Diluted earnings per common share:
Basic weighted average common shares outstanding	43,094		42,726		43,106		42,691
Add: Common Stock Equivalents	851		635		831		493
Diluted weighted average common shares outstanding	43,945		43,361		43,937		43,184
Diluted earnings per common share	$	1.40	$	0.37	$	4.48	$	1.66

During the three and nine months ended January 31, 2022, the number of Common Stock Equivalents excluded from the calculation of diluted earnings per share was not material. During the three and nine months ended January 31, 2021, approximately 0.3 million and 0.4 million, respectively, Common Stock Equivalents were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive. Anti-dilutive securities could be dilutive in future periods.