Basic and Diluted Earnings Per Share

9 Months Ended

Jan. 31, 2013

Basic and Diluted Earnings Per Share

2. Basic and Diluted Earnings Per Share

Basic earnings per common share was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share reflects the potential dilution that would occur if all in-the-money outstanding options or other contracts to issue common stock were exercised or converted and was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding plus dilutive common equivalent shares. During the three and nine months ended January 31, 2013, options to purchase 0.5 million shares and 0.6 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. During the three and nine months ended January 31, 2012, options to purchase 0.6 million shares, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

The following table summarizes basic and diluted earnings per share calculations:

	Three Months Ended January 31,				Nine Months Ended January 31,
	2013		2012		2013		2012
	(in thousands, except per share data)
Net earnings attributable to common stockholders	$	9,482	$	11,717	$	21,096	$	42,275
Weighted-average common shares outstanding:
Basic weighted-average number of common shares outstanding		47,367		46,528		47,149		46,332
Effect of dilutive securities:
Restricted stock		491		567		426		567
Stock options		157		250		167		279
ESPP		—		—		—		15
Diluted weighted-average number of common shares outstanding		48,015		47,345		47,742		47,193
Net earnings per common share:
Basic earnings per share	$	0.20	$	0.25	$	0.45	$	0.91
Diluted earnings per share	$	0.20	$	0.25	$	0.44	$	0.90