Earnings per Share

3 Months Ended

Apr. 30, 2020

Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock.

The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation:



	Three Months Ended April 30,
	2020	2019
	(in thousands)
Basic weighted average common shares outstanding	12,172	12,119
Stock options	—	98
Unvested restricted stock	4	3
Total weighted average common share equivalents	4	101
Diluted weighted average common shares outstanding	12,176	12,220

For the three months ended April 30, 2020 and 2019, potentially dilutive common shares, underlying stock options and unvested restricted stock were anti-dilutive and were therefore not considered in calculating diluted loss per share for those periods.