Net Income per Common Share

3 Months Ended

Apr. 30, 2020

Net Income per Common Share

Net Income per Common Share

Note 7 – Net Income (Loss) per Common Share

Basic net income (loss) per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock unit awards and stock options outstanding during the period. Approximately 355,900 shares of common stock have been excluded from the diluted net income per share calculation for the three months ended April 30, 2019. All share-based payments outstanding that vest based on the achievement of performance and/or market price conditions, and for which the respective performance and/or market price conditions have not been achieved, have been excluded from the diluted per share calculation.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income (loss) per share:

	Three Months Ended April 30,
	2020		2019
	(In thousands, except per share amounts)
Net income (loss)	$	(39,295)	$	12,043
Basic net income (loss) per share:
Basic common shares		48,025		48,781
Basic net income (loss) per share	$	(0.82)	$	0.25
Diluted net income (loss) per share:
Basic common shares		48,025		48,781
Dilutive restricted stock unit awards and stock options		—		993
Diluted common shares		48,025		49,774
Diluted net income (loss) per share	$	(0.82)	$	0.24