XML 39 R28.htm IDEA: XBRL DOCUMENT v3.4.0.3
Equity Matters (Tables)
 6 Months Ended
Apr. 30, 2016
Equity [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The Compensation Committee of our Board of Directors approved the grant of restricted stock and restricted stock units under the 2016 Plan shown in the table below during the six months ended April 30, 2016:
 
Granted
 
20 Day EMA
Restricted Stock
276,856

 
$4.17
Restricted Stock Units
21,539

 
$4.17
The Company recorded stock compensation expense related to stock options, restricted stock and restricted stock units during the three and six months ended April 30, 2016 and 2015 as follows:
 
 
Three Months Ended April 30,
 
Six Months Ended April 30,
 
 
2016
 
2015
 
2016
 
2015
Stock options
 
$
—

 
$
—

 
$
—

 
$
15

Restricted stock
 
253

 
344

 
442

 
527

Restricted stock units
 
9

 
—

 
9

 
—

Total
 
$
262

 
$
344

 
$
451

 
$
542
Schedule of share based compensation activity
Company’s Incentive Plan activity for the six months ended April 30, 2016 and 2015:    
 
 
 
Stock Options
 
Restricted Stock
 
Restricted Stock Units
 
Outstanding at:
 
Options
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Life
 
Restricted Shares
 
20 Day EMA (1)
 
Weighted Average Remaining Contractual Life
 
Restricted Share Units
 
20 Day EMA (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
November 1, 2014
 
123,333

 
$9.69
 
5.15
 
116,882

 
$16.81
 
2.58
 
—

 
—

 
Granted
 
—

 
—

 
 
 
22,504

 
$14.22
 
 
 
—

 
—

 
Options exercised or restricted stock vested
 
(18,650
)
 
$8.30
 
 
 
(25,000
)
 
$18.87
 
 
 
—

 
—

 
Forfeited or expired
 
(11,350
)
 
$11.58
 
 
 
(6,750
)
 
$20.64
 
 
 
—

 
—

 
April 30, 2015
 
93,333

 
$9.74
 
4.51
 
107,636

 
$15.55
 
1.68
 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
November 1, 2015
 
90,666

 
$9.70
 
4.10
 
124,255

 
$13.77
 
2.28
 
—

 
—

 
Granted
 
—

 
—

 
 
 
309,251

 
$4.28
 
 
 
21,539

 
$4.17
 
Options exercised or restricted stock vested
 
—

 
—

 
 
 
(21,458
)
 
$16.64
 
 
 
—

 
—

 
Forfeited or expired
 
(1,000
)
 
$12.04
 
 
 
(1,500
)
 
$10.13
 
 
 
—

 
—

 
April 30, 2016
 
89,666

 
$9.67
 
3.59
 
410,548

 
$6.48
 
2.25
 
21,539

 
$4.17
(1) 20 day EMA effective with commencement of the 2016 Plan on March 9, 2016.
Reconciliation of the numerator and denominator of earnings per share
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for net income per share:          
(Shares in thousands)
Three Months Ended April 30,
 
Six Months Ended April 30,
 
2016
 
2015
 
2016
 
2015
Net income (loss) available to common stockholders
$
3,057

 
$
6,353

 
$
(2,002
)
 
$
8,796

Basic weighted average shares
17,615

 
17,211

 
17,615

 
17,217

Effect of dilutive securities:
 
 
 
 
 
 
 
Stock options
5

 
25

 
—

 
31

Diluted weighted average shares
17,620

 
17,236

 
17,615

 
17,248

Basic income (loss) per share
$
0.17

 
$
0.37

 
$
(0.11
)
 
$
0.51

Diluted income (loss) per share
$
0.17

 
$
0.37

 
$
(0.11
)
 
$
0.51