Stockholders' Equity (Tables)

3 Months Ended

Jul. 31, 2016

Reconciliation of Net Income 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 net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three months ended July 31, 2016 and 2015 (in thousands, except per share data):

	For the Three Months Ended July 31,
	2016								2015
	Net					Per Share			Net					Per Share
	Income			Shares		Amount			Income			Shares		Amount
Basic earnings	$		32,616		56,049	$	0.58		$		14,412		54,218	$	0.27
Effect of dilutive stock awards		—			834		(0.01	)		—			1,259		(0.01	)
Diluted earnings	$		32,616		56,883	$	0.57		$		14,412		55,477	$	0.26

Share Based Compensation Stock Options Activity

The number of shares and weighted average exercise prices of options for the three months ended July 31, 2016 and 2015 were as follows:

	For the Three Months Ended July 31,
	2016				2015
			Weighted					Weighted
			Average					Average
	Shares		Exercise Price		Shares			Exercise Price
Options outstanding, beginning of year		389,360	$	6.16		1,879,630		$	6.37
Exercised during the period	—		—			(132,599	)		4.78
Options outstanding, end of period		389,360	$	6.16		1,747,031		$	6.49
Weighted average remaining contractual life	4.79 years				5.04 years
Options exercisable, end of period		389,360	$	6.16		1,745,865		$	6.48
Weighted average remaining contractual life	4.79 years				5.04 years

Summary of Activity in Unvested RSUs and PSUs

A summary of activity in unvested RSUs and PSUs for the three months ended July 31, 2016 and 2015 is as follows:

	For the Three Months Ended July 31,
	2016					2015
				Weighted					Weighted
	Total # of			Average		Total # of			Average
	Restricted			Grant Date		Restricted			Grant Date
	Stock Units			Fair Value		Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of year		1,215,753		$	15.38		1,190,879		$	12.45
Awarded		277,821			13.81		245,594			14.27
Vested		(360,709	)		11.50		(274,143	)		10.53
Forfeited		(9,695	)		14.19		(65,913	)		10.16
RSUs and PSUs outstanding, end of period		1,123,170		$	16.25		1,096,417		$	13.36