Net Income Per Common Share

3 Months Ended

Jan. 31, 2013

Net Income Per Common Share

3. 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 restricted stock units (“RSUs”), performance shares, and stock options. The calculations of basic and diluted net income per common share are as follows:

	Three Months Ended January 31,
(in thousands, except per share data)	2013		2012
Income from continuing operations	$	13,382	$	10,640
Loss from discontinued operations, net of taxes		—		(10	)
Net income	$	13,382	$	10,630
Weighted-average common and common equivalent shares outstanding—Basic		54,525		53,499
Effect of dilutive securities:
Restricted stock units		422		381
Performance shares		353		298
Stock options		197		315
Weighted-average common and common equivalent shares outstanding—Diluted		55,497		54,493
Net income per common share
Basic	$	0.25	$	0.20
Diluted	$	0.24	$	0.20
The diluted net income per common share excludes certain stock options, performance shares, and RSUs, since the effect of including these awards would have been anti-dilutive as follows:
	Three Months Ended January 31,
(in thousands)	2013		2012
Stock options		1,470		1,359
Performance shares		75		—
Restricted stock units		25		104