Earnings per Share

3 Months Ended

Apr. 30, 2018

Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock.

The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation:



	Three Months Ended April 30,
	2018	2017
	(in thousands)
Basic weighted average common shares outstanding	12,087	12,078
Stock options	41	126
Unvested restricted stock	27	38
Total weighted average common share equivalents	68	164
Diluted weighted average common shares outstanding	12,155	12,242

For the three months ended April 30, 2018 and 2017, potentially dilutive common shares, underlying stock options and unvested restricted stock were anti-dilutive and were therefore not considered in calculating diluted loss per share for those periods.