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Earnings Per Share EPS
 6 Months Ended
Oct. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share EPS
Note 3. Earnings Per Share ("EPS")

We follow the provisions of ASC 260, Earnings Per Share, where basic EPS is computed by dividing income attributable to common shareholders by the weighted average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution which may occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock which share in our earnings.

The following is a reconciliation of the net income and common share amounts used in the calculation of basic and diluted EPS for the three and six months ended October 31, 2020 and November 2, 2019: 
 
 Net income
 
 Shares
 
 Per share income
For the three months ended October 31, 2020
 
 
 
 
 
Basic earnings per share
$
3,416

 
44,893

 
$
0.08

    Dilution associated with stock compensation plans
—

 
84

 
—

Diluted earnings per share
$
3,416

 
44,977

 
$
0.08

For the three months ended November 2, 2019
 
 
 
 
 
Basic earnings per share
$
7,274

 
45,115

 
$
0.16

    Dilution associated with stock compensation plans
—

 
152

 
—

Diluted earnings per share
$
7,274

 
45,267

 
$
0.16

For the six months ended October 31, 2020
 
 
 
 
 
Basic earnings per share
$
10,883

 
44,808

 
$
0.24

    Dilution associated with stock compensation plans
—

 
139

 
—

Diluted earnings per share
$
10,883

 
44,947

 
$
0.24

For the six months ended November 2, 2019
 
 
 
 
 
Basic earnings per share
$
14,304

 
45,114

 
$
0.32

    Dilution associated with stock compensation plans
—

 
247

 
—

Diluted earnings per share
$
14,304

 
45,361

 
$
0.32


 
Options outstanding to purchase 2,348 shares of common stock with a weighted average exercise price of $9.28 for the three months ended October 31, 2020 and 2,282 shares of common stock with a weighted average exercise price of $9.90 for the three months ended November 2, 2019 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Options outstanding to purchase 2,233 shares of common stock with a weighted average exercise price of $9.61 for the six months ended October 31, 2020 and 2,238 shares of common stock with a weighted average exercise price of $9.97 for the six months ended November 2, 2019 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.