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Note 3 - Earnings Per Share ("EPS")
 9 Months Ended
Jan. 30, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 3. Earnings Per Share ("EPS")

 

We follow the provisions of ASC 260, Earnings Per Share, where basic EPS is computed by dividing income attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution which may 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 which share in our earnings.

 

The following is a reconciliation of the net income and common share amounts used in the calculation of basic and diluted EPS for the three and nine months ended January 30, 2021 and February 1, 2020:

 

  

Net (loss) income

  

Shares

  

Per share (loss) income

 

For the three months ended January 30, 2021

            
Basic (loss) earnings per share $(214)  45,064  $(0.00)
Dilution associated with stock compensation plans  —   —   — 
Diluted (loss) earnings per share $(214)  45,064  $(0.00)

For the three months ended February 1, 2020

            

Basic (loss) earnings per share

 $(12,734)  45,189  $(0.28)

Dilution associated with stock compensation plans

  —   —   — 

Diluted (loss) earnings per share

 $(12,734)  45,189  $(0.28)

For the nine months ended January 30, 2021

            
Basic earnings per share $10,669   44,908  $0.24 
Dilution associated with stock compensation plans  —   153   — 
Diluted earnings per share $10,669   45,061  $0.24 

For the nine months ended February 1, 2020

            

Basic earnings per share

 $1,570   45,139  $0.03 

Dilution associated with stock compensation plans

  —   273   — 

Diluted earnings per share

 $1,570   45,412  $0.03 

 

Options outstanding to purchase 2,337 shares of common stock with a weighted average exercise price of $8.70 for the three months ended January 30, 2021 and 2,193 shares of common stock with a weighted average exercise price of $9.92 for the three months ended  February 1, 2020 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

 

Options outstanding to purchase 2,268 shares of common stock with a weighted average exercise price of $9.29 for the nine months ended January 30, 2021 and 2,223 shares of common stock with a weighted average exercise price of $9.95 for the nine months ended February 1, 2020 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.