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Net Income (Loss) per Share
 3 Months Ended
Jan. 31, 2014
Net Income (Loss) per Share [Abstract]  
Net Income (Loss) per Share

(7)Net Income (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.  Diluted loss per share does not include any of these dilutive effects in its calculation.  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 January 31, 2014 and 2013 of 184,129 and 398,374 shares, respectively.

 

Shares used in the net income (loss) per share computations are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months ended January 31,

(In thousands)

 

2014

 

2013

Weighted average common shares outstanding - basic

 
4,135 

 
3,891 

Dilutive effect of stock options and unvested restricted shares

 

 —

 

 —

Weighted average common shares outstanding - diluted

 
4,135 

 
3,891 

 

As a result of the net loss in the three  months ended January 31, 2014 and 2013, the outstanding stock options and unvested restricted stock shares were considered antidilutive and, therefore, were excluded from diluted loss per share for those periods.  Antidilutive shares excluded from the calculation for the three months ended January 31, 2014 and 2013 calculation totaled 97,243 and 62,631, respectively.