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Earnings Per Share
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Jul. 31, 2011
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| Earnings Per Share |
14. Earnings Per Share
Earnings
per share present both “basic” earnings per share and
“diluted” earnings per share. Basic earnings per share
are computed by dividing earnings available to common shareholders
by the weighted-average shares of common stock outstanding during
the period. For the purposes of calculating diluted earnings per
share, the denominator includes both the weighted average number of
shares of common stock outstanding during the period and the
weighted average number of shares of potential common stock, such
as stock options and restricted stock units and warrants,
calculated using the treasury stock method.
For
the three months ended July 31, 2011 and 2010, there were 1,414,388
and 2,520,909 shares of common stock equivalents, respectively,
which were anti-dilutive based on the Company’s stock price
being lower than the option exercise price.
For
the six months ended July 31, 2011 and 2010, there were 1,584,888
and 2,707,525 shares of common stock equivalents, respectively,
which were anti-dilutive based on the Company’s stock price
being lower than the option exercise price.
Below
is a summary of the shares used in calculating basic and diluted
income per share for the periods indicated:
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