Earnings Per Share

12 Months Ended

Apr. 30, 2023

The following table summarizes the computations of basic and diluted earnings per share:


	FISCAL YEARS ENDED APRIL 30,
(in thousands, except per share amounts)	2023		2022		2021
Numerator used in basic and diluted earnings per common share:
Net income (loss)	$	93,723	$	(29,722)	$	61,193
Denominator:
Denominator for basic earnings per common share -
weighted-average shares	16,614		16,592		16,970
Effect of dilutive securities:
Stock options and restricted stock units	71		—		67
Denominator for diluted earnings per common share -
weighted-average shares and assumed conversions	16,685		16,592		17,037
Net earnings (loss) per share
Basic	$	5.64	$	(1.79)	$	3.61
Diluted	$	5.62	$	(1.79)	$	3.59

There were no anti-dilutive securities for the fiscal years ended April 30, 2023 and 2021, which were excluded from the calculation of net earnings per share. Potentially dilutive securities of 48,379 for the fiscal year ended April 30, 2022, have not been considered in the calculation of net loss per share as the effect would be anti-dilutive.

On May 25, 2021, the Company's Board of Directors (the "Board") authorized a stock repurchase program of up to $100 million of the Company's common shares. The Company did not repurchase any of its shares during fiscal 2023. The Company purchased a total of 299,781 common shares, for an aggregate purchase price of $25.0 million under the plan approved on May 25, 2021 during fiscal 2022. The Company also repurchased a total of 200,046 common shares, for an aggregate purchase price of $20.0 million under the prior authorization, during fiscal 2021. The Company funded share repurchases using available cash and cash generated from operations. Repurchased shares became authorized but unissued common shares. At April 30, 2023, $75.0 million remained authorized by the Board to repurchase the Company’s common shares.