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Earnings Per Share EPS
 9 Months Ended
Jan. 28, 2012
Earnings Per Share EPS [Abstract]  
Earnings Per Share EPS
Note 2. 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 share amounts used in the calculation of basic and diluted EPS for the three and nine months ended January 28, 2012 and January 29, 2011:
 
 
 Net income
 
 Shares
 
Earnings Per Share
 
For the three months ended January 28, 2012:
              
Basic earnings per share
$
 1,666
 
 41,916
 
$
 0.04
 
    Dilution associated with stock compensation plans
 
 -
 
 160
   
 -
 
Diluted earnings per share
$
 1,666
 
 42,076
 
$
 0.04
 
                
For the three months ended January 29, 2011:
              
Basic earnings per share
$
 1,831
 
 41,534
 
$
 0.04
 
    Dilution associated with stock compensation plans
 
 -
 
 667
   
 -
 
Diluted earnings per share
$
 1,831
 
 42,201
 
$
 0.04
 
                
For the nine months ended January 28, 2012:
              
Basic earnings per share
$
 8,994
 
 41,811
 
$
 0.22
 
    Dilution associated with stock compensation plans
 
 -
 
 364
   
 (0.01)
 
Diluted earnings per share
$
 8,994
 
 42,175
 
$
 0.21
 
                
For the nine months ended January 29, 2011:
              
Basic earnings per share
$
 11,281
 
 41,341
 
$
 0.27
 
    Dilution associated with stock compensation plans
 
 -
 
 628
   
 -
 
Diluted earnings per share
$
 11,281
 
 41,969
 
$
 0.27
 
 
Options outstanding to purchase 1,621 shares of common stock with a weighted average exercise price of $19.18 for the three months ended January 28, 2012 and 773 shares of common stock with a weighted average exercise price of $25.88 for the three months ended January 29, 2011 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Options outstanding to purchase 1,621 shares of common stock with a weighted average exercise price of $19.18 for the nine months ended January 28, 2012 and 1,658 shares of common stock with a weighted average exercise price of $18.49 for the nine months ended January 29, 2011 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.