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)	2025		2024		2023
Numerator used in basic and diluted earnings per common share:
Net income	$	99,456	$	116,216	$	93,723
Denominator:
Denominator for basic earnings per common share -
weighted-average shares	15,190		16,139		16,614
Effect of dilutive securities:
Stock options and restricted stock units	109		121		71
Denominator for diluted earnings per common share -
weighted-average shares and assumed conversions	15,299		16,260		16,685
Net earnings per share
Basic	$	6.55	$	7.20	$	5.64
Diluted	$	6.50	$	7.15	$	5.62

There were no anti-dilutive securities for the fiscal years ended April 30, 2025, 2024 and 2023, which were excluded from the calculation of net earnings per share.

On November 20, 2024 the Board authorized an additional stock repurchase program of up to $125 million of the Company's outstanding common shares. This authorization is in addition to the $125 million stock repurchase program authorized on November 29, 2023. Repurchases may be made from time to time in the open market, or through privately negotiated transactions or otherwise, in compliance with applicable laws, rules and regulations, at prices and on terms the Company deems appropriate and subject to the Company's cash requirements for other purposes, compliance with the covenants under the A&R Credit Agreement, and other factors management deems relevant. The authorization does not obligate the Company to acquire a specific number of shares during any period, and the authorization may be modified, suspended or discontinued at any time at the discretion of the Board. The Company repurchased a total of 1,169,710 and 1,108,715 common shares, for an aggregate purchase price of $96.7 million and $87.7 million of its common shares during fiscal 2025 and 2024, respectively. The Company did not repurchase any of its shares during fiscal 2023. The Company funded share repurchases using available cash and cash equivalents, as well as cash generated from operating activities. Repurchased shares became authorized but unissued common shares. At April 30, 2025, $117.8 million remained authorized by the Board to repurchase the Company’s common shares.