Earnings Per Share

6 Months Ended

Apr. 30, 2026

We compute basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common and potential common shares include the weighted average of additional shares associated with the incremental effect of dilutive employee stock options, non-vested restricted stock as determined using the treasury stock method and contingent shares associated with performance share awards, if dilutive.

The computation of basic and diluted earnings per share for the three and six months ended April 30, 2026 and 2025 follows (in thousands, except per share data):


	Net Income		Weighted-Average Shares	Per Share
Three Months Ended April 30, 2026
Basic earnings per common share	$	3,350	45,483	$	0.07
Effect of dilutive securities:
Stock options	—		—	—
Restricted stock awards	—		161	—

Performance restricted stock units	—		14	—
Diluted earnings per common share	$	3,350	45,658	$	0.07
Three Months Ended April 30, 2025
Basic earnings per common share	$	20,515	46,483	$	0.44
Effect of dilutive securities:
Stock options	—		—	—
Restricted stock awards	—		60	—

Performance restricted stock units	—		20	—
Diluted earnings per common share	$	20,515	46,563	$	0.44
Six Months Ended April 30, 2026
Basic and diluted loss per common share	$	(721)	45,469	$	(0.02)






Six Months Ended April 30, 2025
Basic earnings per common share	$	5,630	46,753	$	0.12
Effect of dilutive securities:
Stock options	—		11	—
Restricted stock awards	—		84	—

Performance restricted stock units	—		20	—
Diluted earnings per common share	$	5,630	46,868	$	0.12

We do not include equity instruments in our calculation of diluted earnings per share if those instruments would be anti-dilutive. We had anti-dilutive restricted stock award equivalents for the three and six months ended April 30, 2026 of 4,009 and 10,560, respectively, and 41,871 and 17,580 for the comparable prior year periods. Such dilution is dependent on the excess of the market price of our stock over the exercise price and other components of the treasury stock method.