Earnings Per Share

12 Months Ended

Apr. 30, 2022

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


	FISCAL YEARS ENDED APRIL 30,
(in thousands, except per share amounts)	2024		2023		2022
Numerator used in basic and diluted earnings per common share:
Net income (loss)	$	116,216	$	93,723	$	(29,722)
Denominator:
Denominator for basic earnings per common share -
weighted-average shares	16,139		16,614		16,592
Effect of dilutive securities:
Stock options and restricted stock units	121		71		0
Denominator for diluted earnings per common share -
weighted-average shares and assumed conversions	16,260		16,685		16,592
Net earnings (loss) per share
Basic	$	7.20	$	5.64	$	(1.79)
Diluted	$	7.15	$	5.62	$	(1.79)

There were no anti-dilutive securities for the fiscal years ended April 30, 2024 and 2023, 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 earnings (loss) per share as the effect would be anti-dilutive.

On November 29, 2023 the Board of Directors authorized a stock repurchase program of up to $125 million of the Company's outstanding common shares. In conjunction with this authorization the Board of Directors cancelled the remaining $22.9 million that had yet to be repurchased under the $100 million existing authorization from May 25, 2021. The Company repurchased a total of 1,108,715 common shares, for an aggregate purchase price of $87.7 million of its common shares during fiscal 2024. During the first half of fiscal 2024, the Company repurchased $52.2 million under the May 25, 2021 authorization while the remaining $35.5 million of stock was repurchased under the November 25, 2023 authorization. The Company did not repurchase any of its shares during fiscal 2023 but 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 funded share repurchases using available cash and cash generated from operations. Repurchased shares became authorized but unissued common shares. At April 30, 2024, $89.5 million remained authorized by the Board to repurchase the Company’s common shares.