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Net Income Per Common Share
 3 Months Ended
May 04, 2013
Net Income Per Common Share [Abstract]  
Net Income Per Common Share

(4) Net Income Per Common Share

Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of shares and, if dilutive, common equivalent shares for stock options, restricted stock awards and restricted stock units outstanding during the period. A reconciliation of the shares used in calculating basic and diluted net income per share is as follows:

 

                 
    Three Months Ended  
    May 4,
2013		     April 28,
2012		  

Weighted Average Common Shares Outstanding—Basic

     7,401,465       7,424,852  

Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units

     —         61,862  
   

 

 

    

 

 

  

Weighted Average Common Shares Outstanding—Diluted

     7,401,465       7,486,714  
   

 

 

    

 

 

  

For the three months ended May 4, 2013 and April 28, 2012, the diluted per share amounts do not reflect common equivalent shares outstanding of 155,900 and 612,150, respectively, because their effect would have been anti-dilutive. These outstanding options were not included due to their anti-dilutive effect, as the exercise price was greater than the average market price of the underlying stock during the period presented.

For the three months ended May 4, 2013, diluted net loss per common share is the same as basic net loss per common share, as the inclusion of the effect of the common share equivalents then outstanding would be anti-dilutive. For this reason, excluded from the calculation of diluted net loss per common share for the three month period ended May 4, 2013 were “in the money” options to purchase 175,951 shares of the Company’s common stock.