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Earnings (Loss) Per Share
 9 Months Ended
Jan. 31, 2013
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share

12.   Earnings (Loss) Per Share   

  

Basic earnings (loss) per share is computed by dividing net income (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 three months ended January 31, 2013 and the three and nine months ended January 31, 2012, 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

 

 

Nine Months Ended

 

 

January 31,

 

 

January 31,

 

 

2013

 

2012

 

 

2013

 

2012

Net income (loss)

$
(65)

$
53 

 

$
344 

$
(931)

Dividends paid and payable on preferred stock

 
(101)

 
(101)

 

 
(302)

 
(236)

Net income (loss) available to common stockholders

$
(166)

$
(48)

 

$
42 

$
(1,167)

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding, basic

 
14,718 

 
14,713 

 

 
14,718 

 
14,657 

Effect of dilutive securities

 

 -

 

 -

 

 
8 

 

 -

Weighted-average shares of common stock outstanding, diluted

 
14,718 

 
14,713 

 

 
14,726 

 
14,657 

 

 

 

 

 

 

 

 

 

 

Income (loss) per share of common stock:

 

 

 

 

 

 

 

 

 

Basic

$
(0.01)

$
0.00 

 

$
0.00 

$
(0.08)

Diluted

$
(0.01)

$
0.00 

 

$
0.00 

$
(0.08)

   

The dilutive securities above represent only those stock options, warrants, 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 and common stock warrants aggregating a weighted average of 2,357,470 and 909,042 shares, respectively, for the three months ended January 31, 2013.   Potentially dilutive securities that are not included in the diluted net income calculation because they would be antidilutive are employee stock options and common stock warrants aggregating a weighted average of 2,632,813 and 909,042 shares, respectively, for the nine months ended January 31, 2013.  Potentially dilutive securities that are not included in the diluted net income calculation because they would be antidilutive are employee stock options and common stock warrants aggregating 2,725,546 and 1,344,986 shares, respectively, for the three and nine months ended January 31, 2012.  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 nine months ended January 31, 2013 and 2012.