|
Stockholders' Equity (Tables)
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9 Months Ended |
|
Jan. 31, 2015
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| Equity [Abstract] |
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| Reconciliation of Income/(Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Share |
The following table provides a reconciliation of the income/(loss) amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three and nine months ended January 31, 2015 and 2014 (in thousands, except per share data):
|
|
For the Three Months Ended January 31, |
|
|
For the Nine Months Ended January 31, |
|
|
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
|
Net income/(loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
$ |
8,178 |
|
|
$ |
20,057 |
|
|
$ |
27,885 |
|
|
$ |
63,728 |
|
|
(Loss)/income from discontinued operations |
|
(57 |
) |
|
|
728 |
|
|
|
(160 |
) |
|
|
521 |
|
|
Net income |
$ |
8,121 |
|
|
$ |
20,785 |
|
|
$ |
27,725 |
|
|
$ |
64,249 |
|
|
Weighted average shares outstanding - Basic |
|
53,724 |
|
|
|
55,583 |
|
|
|
54,033 |
|
|
|
59,815 |
|
|
Dilutive effect of stock option and award plans |
|
1,135 |
|
|
|
1,441 |
|
|
|
1,225 |
|
|
|
2,250 |
|
|
Diluted shares outstanding |
|
54,859 |
|
|
|
57,024 |
|
|
|
55,258 |
|
|
|
62,065 |
|
|
Earnings per share - Basic (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
$ |
0.15 |
|
|
$ |
0.36 |
|
|
$ |
0.52 |
|
|
$ |
1.07 |
|
|
(Loss)/income from discontinued operations |
$ |
(0.00 |
) |
|
$ |
0.01 |
|
|
$ |
(0.00 |
) |
|
$ |
0.01 |
|
|
Net income |
$ |
0.15 |
|
|
$ |
0.37 |
|
|
$ |
0.51 |
|
|
$ |
1.07 |
|
|
Earnings per share - Diluted (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
$ |
0.15 |
|
|
$ |
0.35 |
|
|
$ |
0.50 |
|
|
$ |
1.03 |
|
|
(Loss)/income from discontinued operations |
$ |
(0.00 |
) |
|
$ |
0.01 |
|
|
$ |
(0.00 |
) |
|
$ |
0.01 |
|
|
Net income |
$ |
0.15 |
|
|
$ |
0.36 |
|
|
$ |
0.50 |
|
|
$ |
1.04 |
|
_______________
|
(a) |
Net income per share may not equal earnings per share from continuing operations plus discontinued operations due to rounding. | |
| Share Based Compensation Stock Options Activity |
The number of shares and weighted average exercise prices of options for the nine months ended January 31, 2015 and 2014 are as follows:
|
|
For the Nine Months Ended January 31, |
|
|
|
2015 |
|
|
2014 |
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
Average |
|
|
|
|
|
|
Average |
|
|
|
Shares |
|
|
Exercise Price |
|
|
Shares |
|
|
Exercise Price |
|
|
Options outstanding, beginning of year |
|
2,258,349 |
|
|
$ |
6.15 |
|
|
|
3,019,127 |
|
|
$ |
5.31 |
|
|
Exercised during the period |
|
(222,884 |
) |
|
|
4.62 |
|
|
|
(508,800 |
) |
|
|
2.76 |
|
|
Canceled/forfeited during period |
|
(13,000 |
) |
|
|
7.98 |
|
|
|
(28,000 |
) |
|
|
5.59 |
|
|
Options outstanding, end of period |
|
2,022,465 |
|
|
$ |
6.31 |
|
|
|
2,482,327 |
|
|
$ |
5.83 |
|
|
Weighted average remaining contractual life |
5.28 years |
|
|
|
|
|
|
5.99 years |
|
|
|
|
|
|
Options exercisable, end of period |
|
1,943,800 |
|
|
$ |
6.23 |
|
|
|
2,003,639 |
|
|
$ |
5.81 |
|
|
Weighted average remaining contractual life |
5.20 years |
|
|
|
|
|
|
5.56 years |
|
|
|
|
|
|
| Share Based Payment Award Employee Stock Purchase Plan Valuation Assumptions |
The following assumptions were used in valuing our ESPP purchases during the nine-month periods ended January 31, 2015 and 2014:
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For the Nine Months Ended January 31, |
|
|
2015 |
|
2014 |
|
Risk-free interest rate |
0.04% |
|
0.04% |
|
Expected term |
6 months |
|
6 months |
|
Expected volatility |
36.0% |
|
35.2% |
|
Dividend yield |
0% |
|
0% |
|
| Summary of Activity in Unvested RSUs and PSUs |
A summary of activity in unvested RSUs and PSUs for the nine months ended January 31, 2015 and 2014 is as follows:
|
|
For the Nine Months Ended January 31, |
|
|
|
2015 |
|
|
2014 |
|
|
|
Total # of |
|
|
Weighted Average |
|
|
Total # of |
|
|
Weighted Average |
|
|
|
Restricted |
|
|
Grant Date |
|
|
Restricted |
|
|
Grant Date |
|
|
|
Stock Units |
|
|
Fair Value |
|
|
Stock Units |
|
|
Fair Value |
|
|
RSUs and PSUs outstanding, beginning of year |
|
1,015,475 |
|
|
$ |
10.56 |
|
|
|
781,586 |
|
|
$ |
8.42 |
|
|
Awarded |
|
499,200 |
|
|
|
10.51 |
|
|
|
487,156 |
|
|
|
10.32 |
|
|
Vested |
|
(318,171 |
) |
|
|
8.75 |
|
|
|
(276,064 |
) |
|
|
8.61 |
|
|
Forfeited |
|
(96,204 |
) |
|
|
12.42 |
|
|
|
(16,294 |
) |
|
|
8.89 |
|
|
RSUs and PSUs outstanding, end of period |
|
1,100,300 |
|
|
$ |
11.87 |
|
|
|
976,384 |
|
|
$ |
9.20 |
|
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