Annual report pursuant to Section 13 and 15(d)

Basic and Diluted Earnings Per Share

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Basic and Diluted Earnings Per Share
12 Months Ended
Apr. 30, 2013
Basic and Diluted Earnings Per Share

2. Basic and Diluted Earnings Per Share

Basic earnings per common share was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share was computed by dividing net earnings attributable to common stockholders by the weighted-average number of common shares outstanding plus dilutive common equivalent shares. Dilutive common equivalent shares include all in-the-money outstanding options or other contracts to issue common stock as if they were exercised or converted. During fiscal 2013, 2012 and 2011, options to purchase 0.50 million shares, 0.57 million shares and 0.39 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

The following table summarizes basic and diluted earnings per share calculations:

 

     Year Ended April 30,  
          2013                2012                2011       
     (in thousands, except per share data)  

Net earnings attributable to common stockholders

   $ 33,293       $ 54,303       $ 58,874   
  

 

 

    

 

 

    

 

 

 

Weighted-average common shares outstanding:

        

Basic weighted-average number of common shares outstanding

     47,224         46,397         45,205   

Effect of dilutive securities:

        

Restricted stock

     485         582         646   

Stock options

     174         267         425   

ESPP

             15         4   
  

 

 

    

 

 

    

 

 

 

Diluted weighted-average number of common shares outstanding

     47,883         47,261         46,280   
  

 

 

    

 

 

    

 

 

 

Net earnings per common share:

        

Basic earnings per share

   $ 0.71       $ 1.17       $ 1.30   
  

 

 

    

 

 

    

 

 

 

Diluted earnings per share

   $ 0.70       $ 1.15       $ 1.27