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Note 8 - Stockholders' Equity
 6 Months Ended
Jul. 30, 2022
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

8. Stockholders’ Equity

 

The following table sets forth the changes in stockholders’ equity (in thousands) for the thirteen weeks ended July 30, 2022 and July 31, 2021 (in thousands):

 

  

For the thirteen weeks ended July 30, 2022

  

For the thirteen weeks ended July 31, 2021

 
                                         
  Common          Retained      Common          Retained     
  

stock

  

APIC (1)

  

AOCI (2)

  

earnings

  

Total

  

stock

  

APIC (1)

  

AOCI (2)

  

earnings

  

Total

 

Balance, beginning

 $157  $71,962  $(12,452) $38,872  $98,540  $163  $73,024  $(12,532) $17,322  $77,977 

Shares issued under employee stock plans

     272         272               - 

Stock-based compensation

     379         379      370         370 

Other

     4      19   23   (3)  3         - 

Share Repurchase

  (7)  (3,208)     (8,030)  (11,245)              - 

Other comprehensive income

        67      67         (47)     (47)

Net income

           5,829   5,829            6,835   6,835 

Balance, ending

 $150  $69,409  $(12,385) $36,690  $93,864  $160  $73,397  $(12,579) $24,157  $85,135 

 

(1) - Additional paid-in capital (“APIC”)

(2) - Accumulated other comprehensive income (loss) (“AOCI”)

 

 

 

The following table sets forth the changes in stockholders’ equity (in thousands) for the twenty-six weeks ended July 30, 2022 and July 31, 2021 (in thousands):

 

  

For the twenty-six weeks ended July 30, 2022

  

For the twenty-six weeks ended July 31, 2021

 
                                         
  

Common

          

Retained

      

Common

          

Retained

     
  

stock

  

APIC (1)

  

AOCI (2)

  

earnings

  

Total

  

stock

  

APIC (1)

  

AOCI (2)

  

earnings/(deficit)

  

Total

 

Balance, beginning

 $162  $75,490  $(12,470) $30,501  $93,683  $159  $72,822  $(12,615) $6,942  $67,308 

Shares issued under employee stock plans

  2   810         812   5   574         579 

Stock-based compensation

     807         807      921         921 

Shares withheld in lieu of tax withholdings

  (1)  (2,178)        (2,179)  (1)  (922)        (923)

Other

           19   19   (3)  2         (1.00)

Share Repurchase

  (12)  (5,521)     (13,850)  (19,383)              - 

Other comprehensive income (loss)

        85      85         36      36 

Net income (loss)

           20,020   20,020            17,215   17,215 

Balance, ending

 $150  $69,409  $(12,385) $36,690  $93,864  $160  $73,397  $(12,579) $24,157  $85,135 

 

(1) - Additional paid-in capital (“APIC”)

(2) - Accumulated other comprehensive income (loss) (“AOCI”)

 

Subsequent to  July 30, 2022 and through August 9, 2022, the Company has utilized $1.3 million in cash to repurchase 80,558 shares under our $25.0 million program that was authorized by its Board of Directors on November 30, 2021, which has resulted in the completion of the $25.0 million stock buyback program. 

 

On August 31, 2022, the Company announced that its Board of Directors authorized a share repurchase program of up to $50.0 million. The primary source of funding for the share repurchase program is expected to be cash on hand. The timing and amount of share repurchases, if any, will depend on price, market conditions, applicable regulatory requirements, and other factors. The program, which authorizes the Company to repurchase shares through August 31, 2025, does not require the Company to repurchase any specific number of shares, and may be modified, suspended or terminated at any time without prior notice. Shares repurchased under the program will be subsequently retired.