Net Income (Loss) Per Share

9 Months Ended

Oct. 30, 2021

9. Net Income (Loss) Per Share

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s

stock option, restricted stock and restricted stock unit awards, and the if-converted method for the Convertible Notes. The following table presents the computation of basic and diluted net income (loss) per share:


	(in thousands, except per share data)
	Three Months Ended				Nine Months Ended

	October 30,		October 31,		October 30,		October 31,
	2021		2020		2021		2020
Basic net income (loss) per share
Net income (loss)	$	13,619	$	8,016	$	287,203	$	(372,493	)
Weighted average number of common shares – basic		66,740		66,083		66,591		65,867
Net income (loss) per common share – basic	$	0.20	$	0.12	$	4.31	$	(5.66	)
Diluted net income (loss) per share
Net income (loss)	$	13,619	$	8,016	$	287,203	$	(372,493	)
Shares for basic and diluted net income (loss) per share:
Weighted average number of common shares – basic		66,740		66,083		66,591		65,867
Assumed exercise of stock options and vesting of restricted stock		577		637		666		—
Assumed conversion of convertible debt		888		—		971		—
Weighted average number of common shares – diluted		68,205		66,720		68,228		65,867
Net income (loss) per common share – diluted	$	0.20	$	0.12	$	4.21	$	(5.66	)

Approximately 242,000 and 144,000 shares of the Company’s stock-based compensation grants were excluded from diluted net income per share for the three and nine month periods ended October 30, 2021, respectively, since their effect was anti-dilutive.

All of the Company’s stock option, restricted stock and restricted stock unit awards have an anti-dilutive effect while in a net loss position. Approximately 585,000 and 2,010,000 shares related to the Company’s stock option, restricted stock and restricted stock unit awards were excluded from diluted net income (loss) per share for the three and nine month periods ended October 31, 2020, respectively, since their effect was anti-dilutive.