Earnings per Share

9 Months Ended

Jan. 25, 2025

The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share:


	Quarter Ended				Nine Months Ended
(Unaudited, amounts in thousands, except per share data)	1/25/2025		1/27/2024		1/25/2025		1/27/2024
Numerator (basic and diluted):


Net income available to common Shareholders	$	28,429	$	28,640	$	84,625	$	83,318

Denominator:
Basic weighted average common shares outstanding	41,437		42,767		41,733		43,005
Contingent common shares	471		256		462		238
Stock option dilution	195		172		185		101
Diluted weighted average common shares outstanding	42,103		43,195		42,380		43,344

Earnings per Share:
Basic	$	0.69	$	0.67	$	2.03	$	1.94
Diluted (1)	$	0.68	$	0.66	$	2.00	$	1.92

(1)Diluted earnings per share was computed using the treasury stock method.

The values for contingent common shares set forth above reflect the dilutive effect of common shares that we would have issued to employees under the terms of performance-based share awards if the relevant performance period for the award had been the reporting period.

We exclude the effect of options from our diluted share calculation when the weighted average exercise price of the options is higher than the average market price, since including the options' effect would be anti-dilutive. For the third quarter and nine months ended January 25, 2025, we did not exclude any outstanding options from the diluted share calculation. For the third quarter and nine months ended January 27, 2024, we excluded options to purchase 0.2 million and 0.5 million shares, respectively, from the diluted share calculation.