Basic and Diluted Earnings Per Share

12 Months Ended

Apr. 30, 2014

Basic and Diluted Earnings Per Share

2. Basic and Diluted Earnings Per Share

Basic earnings per common share was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding plus dilutive common equivalent shares. Dilutive common equivalent shares include all in-the-money outstanding options or other contracts to issue common stock as if they were exercised or converted. During fiscal 2014, 2013 and 2012, options to purchase 0.04 million shares, 0.50 million shares and 0.57 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

The following table summarizes basic and diluted earnings per share calculations:

	Year Ended April 30,
	2014		2013		2012
	(in thousands, except per share data)
Net earnings attributable to common stockholders	$	72,691	$	33,293	$	54,303
Weighted-average common shares outstanding:
Basic weighted-average number of common shares outstanding		48,162		47,224		46,397
Effect of dilutive securities:
Restricted stock		789		485		582
Stock options		194		174		267
ESPP		—		—		15
Diluted weighted-average number of common shares outstanding		49,145		47,883		47,261
Net earnings per common share:
Basic earnings per share	$	1.51	$	0.71	$	1.17
Diluted earnings per share	$	1.48	$	0.70	$	1.15