Net Income Per Common Share

12 Months Ended

Oct. 31, 2012

Net Income Per Common Share

3. NET INCOME PER COMMON SHARE

Basic net income per common share is net income divided by the weighted-average number of shares outstanding during the period. Diluted net income per common share is based on the weighted-average number of shares outstanding during the period, adjusted to include the assumed exercise and conversion of certain stock options, restricted stock units (“RSUs”) and performance shares. The calculations of basic and diluted net income per common share is as follows:

	Years Ended October 31,
(in thousands, except per share data)	2012			2011			2010
Income from continuing operations	$	62,718		$	68,698		$	63,870
(Loss) income from discontinued operations, net of taxes		(136	)		(194	)		251
Net income	$	62,582		$	68,504		$	64,121
Weighted-average common and common equivalent shares outstanding—Basic		53,987			53,121			52,117
Effect of dilutive securities:
Stock options		277			468			446
Restricted stock units		369			293			261
Performance shares		281			221			84
Weighted-average common and common equivalent shares outstanding—Diluted		54,914			54,103			52,908
Net income per common share
Basic	$	1.16		$	1.29		$	1.23
Diluted	$	1.14		$	1.27		$	1.21

The diluted net income per common share excludes certain stock options, RSUs and performance shares since the effect of including these awards would have been anti-dilutive as follows:

	Years Ended October 31,
(in thousands)	2012		2011		2010
Stock options		1,317		879		744
Restricted stock units		90		60		29
Performance shares		—		17		—