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6. Earnings Per Share
 3 Months Ended
Apr. 29, 2012
Earnings Per Share [Text Block]
6          Earnings Per Share

Since 2006, we have issued restricted stock awards to non-employee members of the board of directors under our stock incentive plan and expect to continue to make these awards annually.  These awards vest if the director continuously serves on the board through a three-year service period and may vest earlier upon certain events specified in the plan. In both fiscal 2012 and the fiscal 2013 first quarter, we awarded time-based restricted stock units (RSUs) to certain executive employees.  Each RSU entitles the executive to receive one share of the Company’s common stock if he remains continuously employed with the Company through the end of a three-year service period. The RSUs may be paid in shares of the Company’s common stock, cash, or both, at the discretion of our compensation committee. Unlike the restricted stock awards made to our non-employee directors, the shares of our common stock that may be issued under these RSUs will not be issued until the vesting period has elapsed. The RSU grantee is not entitled to receive dividends on, or vote, these shares during the vesting period. However, both our unvested restricted stock awards and shares issued under unvested RSUs are considered when computing diluted earnings per share. As of April 29, 2012 and January 29, 2012 there were 46,176 and 32,005 dilutive shares, respectively, outstanding, or deemed outstanding, under restricted stock and RSU awards, net of forfeitures and vested shares on each date.  

The following table sets forth the computation of basic and diluted earnings per share:

   
Thirteen Weeks Ended
 
   
April 29,
   
May 1,
 
   
2012
   
2011
 
             
Net income
  $ 1,020     $ 523  
   Less: Unvested participating restricted stock dividends
    2       2  
            Net earnings allocated to unvested participating restricted stock
    2       1  
Earnings available for common shareholders
    1,016       520  
                 
Weighted average shares outstanding for basic earnings per share
    10,772       10,761  
Dilutive effect of unvested restricted stock and RSU awards
    22       17  
   Weighted average shares outstanding for diluted earnings per share
    10,794       10,778  
                 
Basic earnings per share
  $ 0.09     $ 0.05  
                 
Diluted earnings per share
  $ 0.09     $ 0.05