Net Earnings Per Share

9 Months Ended

Jan. 31, 2016

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



	Three Months Ended				Nine Months Ended
	January 31,				January 31,
(in thousands, except per share amounts)	2016		2015		2016		2015
Numerator used in basic and diluted net earnings
per common share:
Net income	$	12,013	$	7,282	$	45,351	$	24,191
Denominator:
Denominator for basic net earnings per common
share - weighted-average shares	16,295		15,860		16,253		15,688
Effect of dilutive securities:
Stock options and restricted stock units	162		272		198		265
Denominator for diluted net earnings per common
share - weighted-average shares and assumed
conversions	16,457		16,131		16,450		15,953
Net earnings per share
Basic	$	0.74	$	0.46	$	2.79	$	1.54
Diluted	$	0.73	$	0.45	$	2.76	$	1.52

The Company repurchased a total of 67,556 and 0 shares of its common stock during the three-month periods ended January 31, 2016 and 2015, respectively, and 176,343 and 163,326 shares of its common stock during the nine-month periods ended January 31, 2016 and 2015, respectively. There were no potentially dilutive securities for the three- and nine-month periods ended January 31, 2016, which were excluded from the calculation of net earnings per share. There were approximately 0.0 million and 0.2 million shares of common stock which were excluded from the calculation of net earnings per share during the three and nine-month periods ended January 31, 2015, respectively, as the effect would be anti-dilutive.