Net Income Per Common Share

6 Months Ended

Apr. 30, 2011

Net Income Per Common Share [Abstract]

Net Income per Common Share

5. Net Income per Common Share

Basic net income per common share is net income divided by the weighted average number of shares outstanding during the period. Diluted net income per common share is based on the weighted average number of shares outstanding during the period, adjusted to include the assumed exercise and conversion of certain stock options, restricted stock units, and performance shares. The calculation of basic and diluted net income per common share is as follows:

	Three Months Ended						Six Months Ended
	April 30,						April 30,
(in thousands, except per share data)	2011			2010			2011			2010
Income from continuing operations	$	14,200		$	8,623		$	22,605		$	21,459
Loss from discontinued operations, net of taxes		(8	)		(46	)		(24	)		(107	)
Net income	$	14,192		$	8,577		$	22,581		$	21,352
Weighted-average common shares outstanding — Basic		53,106			52,007			52,972			51,914
Effect of dilutive securities:
Stock options		482			432			496			410
Restricted stock units		359			227			366			244
Performance shares		212			53			192			65
Weighted-average common shares outstanding — Diluted		54,159			52,719			54,026			52,633
Net income per common share
Basic	$	0.27		$	0.16		$	0.43		$	0.41
Diluted	$	0.26		$	0.16		$	0.42		$	0.41

The diluted net income per common share excludes certain stock options and restricted stock units since the effect of including these stock options and restricted stock units would have been anti-dilutive, as follows:

	Three Months Ended				Six Months Ended
	April 30,				April 30,
(in thousands)	2011		2010		2011		2010
Stock options		90		803		90		824
Restricted stock units		662		38		618		30
Performance shares		—		—		34		—