Earnings Per Share And Stockholders' Equity

6 Months Ended

Oct. 31, 2022

Earnings Per Share And Stockholders' Equity [Abstract]

Earnings Per Share And Stockholders' Equity

Note D - Earnings Per Share and Stockholders’ Equity

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
		October 31,		October 31,		October 31,		October 31,
	2022		2021		2022		2021
Net income	$	871,872	$	3,150,205	$	2,248,547	$	11,946,921
Weighted-average shares
Basic		6,071,288		4,313,623		6,065,098		4,294,517
Effect of dilutive stock options		73,935		240,276		94,167		150,772
Diluted		6,145,223		4,553,899		6,159,265		4,445,289
Basic earnings per share	$	0.14	$	0.73	$	0.37	$	2.78
Diluted earnings per share	$	0.14	$	0.69	$	0.37	$	2.69

Options to purchase 508,519 and 429,561 shares of common stock were outstanding and exercisable at October 31, 2022 and 2021, respectively. There were no options granted during the three and six month periods ended October 31, 2022 and 102,000 options were granted during the six month period ended October 31, 2021. There was $76,568 and $122,885 stock option expense recognized for the three month periods ended October 31, 2022 and 2021, respectively. There was $171,461 and $142,920 stock option expense recognized for the six month periods ended October 31, 2022 and 2021, respectively. The balance of unrecognized compensation expense related to the Company’s stock option plans at October 31, 2022 and 2021 was $848,916 and $102,849, respectively. There were 40,798 anti-dilutive common stock equivalents and no anti-dilutive common stock equivalents for the three month period ended October 31, 2022 and 2021, respectively, which have been excluded

Note D - Earnings Per Share and Stockholders’ Equity - Continued

from the calculation of diluted earnings per share. There were 6,251 anti-dilutive common stock equivalents and no anti-dilutive common stock equivalents for the six month period ended October 31, 2022 and 2021, respectively, which have been excluded from the calculation of diluted earnings per share.