Net Loss Per Share

6 Months Ended

Apr. 30, 2012

Net Loss Per Share [Abstract]

Net Loss Per Share

7. Net Loss per Share

          Basic income (loss) per share is computed by dividing net income (loss) by the weighted average shares outstanding during the reporting period. Diluted income per share is computed similarly to basic income (loss) per share except that in computing diluted income per share the weighted average shares outstanding are increased to include additional shares issuable from the assumed exercise of stock options, if dilutive, as well as the dilutive effects of any unvested restricted share awards. When results are losses, diluted loss per share does not include any of these dilutive effects in its calculation. When dilutive effects are included, the number of additional shares is calculated by assuming that outstanding stock options are exercised, outstanding restricted share grants vest and that the cash proceeds from the exercise together with the assumed employment value represented by the unamortized stock-based compensation were used to reacquire shares of common stock at the average market price during the reporting period.

          The Company had unexpired options for the purchase of its common shares and unvested restricted and performance stock awards at April 30, 2012 and 2011 of 526,092 and 546,034 shares, respectively.

          Shares used in the loss per share computations are as follows:

	Three months ended April 30,				Six months ended April 30,
(In thousands)	2012		2011		2012		2011
Weighted average common shares outstanding – basic		3,797		3,772		3,789		3,763
Dilutive effect of stock options and restricted and performance stock awards		—		—		—		—
Weighted average common shares outstanding – diluted		3,797		3,772		3,789		3,763

          As a result of the net loss in the three and six months ended April 30, 2012 and 2011, the outstanding stock options and unvested restricted and performance stock shares were considered antidilutive and, therefore, were excluded from diluted loss per share of those periods.