XML 47 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings (Loss) Per Share
 6 Months Ended
Oct. 31, 2012
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share

12.   Earnings (Loss) Per Share   

  

Basic earnings (loss) per share is computed by dividing net earnings (loss) less dividends payable on preferred stock by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.  For the six months ended October 31, 2011, because of our net loss available to shareholders, potentially dilutive securities were excluded from the per share computations due to their anti-dilutive effect. 

 

 

 

 

 

 

 

 

 

 

 

(in thousands, except per share amounts)

 

Three Months Ended

 

 

Six Months Ended

 

 

October 31,

 

 

October 31,

 

 

2012

 

2011

 

 

2012

 

2011

Net income (loss)

$
252 

$
795 

 

$
409 

$
(983)

Dividends paid and payable on preferred stock

 
(101)

 
(101)

 

 
(202)

 
(135)

Net income (loss) available to common stockholders

$
151 

$
694 

 

$
207 

$
(1,118)

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding, basic

 
14,718 

 
14,657 

 

 
14,718 

 
14,629 

Effect of dilutive securities

 
11 

 
152 

 

 
5 

 

 -

Weighted-average shares of common stock outstanding, diluted

 
14,729 

 
14,809 

 

 
14,723 

 
14,629 

 

 

 

 

 

 

 

 

 

 

Income (loss) per share of common stock:

 

 

 

 

 

 

 

 

 

Basic

$
0.01 

$
0.05 

 

$
0.01 

$
(0.08)

Diluted

$
0.01 

$
0.05 

 

$
0.01 

$
(0.08)

   

The dilutive securities above represent only those stock options, warrants, convertible debt, and preferred stock whose exercise prices were less than the average market price of the stock during the respective periods and therefore were dilutive. Potentially dilutive securities that are not included in the diluted net income calculation because they would be antidilutive are employee stock options aggregating a weighted average of 2,629,497 shares and common stock warrants of 909,042 for the three months ended October 31, 2012.  Potentially dilutive securities that are not included in the diluted net income calculation because they would be antidilutive are employee stock options aggregating a weighted average of 2,223,869 shares and common stock warrants of 909,042 for the three months ended October 31, 2011.  Potentially dilutive securities that are not included in the diluted net income calculation because they would be antidilutive are employee stock options aggregating a weighted average of 2,724,519 shares and common stock warrants of 909,042 for the six months ended October 31, 2012.  Potentially dilutive securities that are not included in the diluted net loss calculation because they would be antidilutive are employee stock options aggregating a weighted average of 2,783,065 shares and common stock warrants of 1,344,986 for the six months ended October 31, 2011.  Potentially dilutive securities that are not included in the diluted net income (loss) calculation because they would be antidilutive include 1,666,667 shares of convertible preferred stock for the three and six months ended October 31, 2012 and 2011.