Net Income (Loss) per Common Share

6 Months Ended

Jul. 31, 2020

Net Income (Loss) per Common Share

Net Income (Loss) per Common Share

Note 8 – 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. All unvested restricted stock unit awards and stock options have been excluded from the diluted net income per share calculation for the three and six months ended July 31, 2020 as a result of the Company recording a net loss during each of those periods. Approximately 794,400 and 606,500 shares of common stock have been excluded from the diluted net income per share calculation for the three and six months ended July 31, 2019, respectively. 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 July 31,				Six Months Ended July 31,
	2020		2019		2020		2019
	(In thousands, except per share amounts)
Net income (loss)	$	(14,976)	$	11,119	$	(54,271)	$	23,162
Basic net income (loss) per share:
Basic common shares		48,214		48,450		48,121		48,619
Basic net income (loss) per share	$	(0.31)	$	0.23	$	(1.13)	$	0.48
Diluted net income (loss) per share:
Basic common shares		48,214		48,450		48,121		48,619
Dilutive restricted stock unit awards and stock options		—		666		—		817
Diluted common shares		48,214		49,116		48,121		49,436
Diluted net income (loss) per share	$	(0.31)	$	0.23	$	(1.13)	$	0.47