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Earnings Per Share EPS
 3 Months Ended
Jul. 30, 2011
Earnings Per Share EPS [Abstract]  
Earnings Per Share EPS
Note 3. Earnings Per Share (“EPS”)

Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution that would occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in our earnings.

The following is a reconciliation of the income and common stock share amounts used in the calculation of basic and diluted EPS for the three months ended July 30, 2011 and July 31, 2010:

 
Net income
 
Shares
 
Per share income
 
For the three months ended July 30, 2011:
      
Basic earnings per share
$3,368 41,725 $0.08 
    Dilution associated with stock compensation plans
 - 216  - 
Diluted earnings per share
$3,368 41,941 $0.08 
          
For the three months ended July 31, 2010:
        
Basic earnings per share
$2,442 41,629 $0.06 
    Dilution associated with stock compensation plans
 - 232  - 
Diluted earnings per share
$2,442 41,861 $0.06 

Options outstanding to purchase 1,658 shares of common stock with a weighted average exercise price of $19.07 for the three months ended July 30, 2011 and 2,627 shares of common stock with a weighted average exercise price of $14.90 for the three months ended July 31, 2010 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.