Annual report pursuant to Section 13 and 15(d)

Basic and Diluted Earnings (Loss) Per Share

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Basic and Diluted Earnings (Loss) Per Share
12 Months Ended
Apr. 30, 2011
Basic and Diluted Earnings (Loss) Per Share [Abstract]  
Basic and Diluted Earnings (Loss) Per Share
 
2.   Basic and Diluted Earnings (Loss) Per Share
 
Basic earnings (loss) per common share was computed by dividing net earnings (loss) attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share reflects the potential dilution that would occur if all in-the-money outstanding options or other contracts to issue common stock were exercised or converted and was computed by dividing net earnings (loss) attributable to common stockholders by the weighted-average number of common shares outstanding plus dilutive common equivalent shares. During fiscal 2011 and 2010, SARs and options to purchase 0.39 million shares and 1.48 million shares were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. Due to the loss attributable to common stockholders during fiscal 2009, no potentially dilutive shares are included in the loss per share calculation as including such shares in the calculation would be anti-dilutive.
 
The following table summarizes basic and diluted earnings (loss) per share calculations:
 
                         
    Year Ended April 30,  
    2011     2010     2009  
    (In thousands, except per share data)  
 
Net earnings (loss) attributable to common stockholders
  $ 58,874     $ 5,298     $ (10,092 )
                         
Weighted-average common shares outstanding:
                       
Basic weighted-average number of common shares outstanding
    45,205       44,413       43,522  
Effect of dilutive securities:
                       
Restricted stock
    646       587        
Stock options
    425       401        
ESPP
    4       3        
Warrants
          53        
                         
Diluted weighted-average number of common shares outstanding
    46,280       45,457       43,522  
                         
Net earnings (loss) per common share:
                       
Basic earnings (loss) per share
  $ 1.30     $ 0.12     $ (0.23 )
                         
Diluted earnings (loss) per share
  $ 1.27     $ 0.12     $ (0.23 )