Equity Matters (Tables)

9 Months Ended

Jul. 31, 2017

Schedule of share based compensation activity

The following table summarizes the Company’s Incentive Plan activity for the nine months ended July 31, 2017 and 2016:



	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)	Weighted Average Remaining Contractual Life



November 1, 2015	90,666		$9.70	4.10	124,255		$13.77	2.28	—		—
Granted	—		—		312,251		4.30		21,539		$4.17
Options exercised or restricted stock vested	—		—		(25,959	)	16.53		—		—
Forfeited or expired	(1,000	)	12.04		(5,817	)	5.71		—		—
July 31, 2016	89,666		$9.67	3.34	404,730		$6.40	2.00	21,539		$4.17	1.84

November 1, 2016	89,666		$9.67	3.04	376,340		$6.11	1.83	21,539		$4.17
Granted	—		—		245,932		7.93		29,253		8.62
Options exercised or restricted stock vested	(8,000	)	9.79		(158,512	)	5.71		(13,574	)	4.17
Forfeited or expired	(23,500	)	13.38		(4,893	)	9.20		—		—
July 31, 2017	58,166		$8.16	2.78	458,867		$7.19	1.78	37,218		$7.67	2.10

(1) 20-day EMA effective with commencement of the 2016 Plan on March 9, 2016.

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The Company recorded stock compensation expense related to stock options, restricted stock and restricted stock units during the three and nine months ended July 31, 2017 and 2016 as follows:



	Three Months Ended July 31,				Nine Months Ended July 31,
	2017		2016		2017		2016
Restricted stock (1)	$	505	$	319	$	1,286	$	761
Restricted stock units	33		14		86		23
Total	$	538	$	333	$	1,372	$	784

(1) Includes $76 of additional expense from the impact of early adopting ASU 2016-09 for the three and nine months ended July 31, 2017.

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 (loss) per share:



(Shares in thousands)	Three Months Ended July 31,						Nine Months Ended July 31,
	2017			2016			2017		2016
Net income (loss) available to common stockholders	$	(1,982	)	$	(678	)	$	229	$	(1,596	)
Basic weighted average shares	18,559			17,614			18,048		17,614
Effect of dilutive securities:
Restricted share units and stock options (1)	—			—			25		—
Diluted weighted average shares	18,559			17,614			18,073		17,614
Basic income (loss) per share	$	(0.11	)	$	(0.04	)	$	0.01	$	(0.09	)
Diluted income (loss) per share	$	(0.11	)	$	(0.04	)	$	0.01	$	(0.09	)

(1) Due to a loss for the for the three months ended July 31, 2017 and the three and nine months ended July 31, 2016, no restricted share awards and units are included because the effect would be anti-dilutive.