Net Income Per Common Share

9 Months Ended

Nov. 02, 2019

Note 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, determined using the treasury stock method 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				Nine Months Ended
	November 2, 2019		October 27, 2018		November 2, 2019		October 27, 2018
Weighted Average Common Shares Outstanding – Basic		7,046,803		6,924,554		7,012,595		6,858,365
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		151,795		242,074		259,840		197,760

Weighted Average Common Shares Outstanding – Diluted		7,198,598		7,166,628		7,272,435		7,056,125

For the three and nine months ended November 2, 2019, the diluted per share amounts do not reflect common equivalent shares outstanding of 238,477 and 206,592

respectively. For the three and nine months ended October 27, 2018, the diluted per share amounts do not reflect common equivalent shares outstanding of 228,600 and 333,175

respectively. These outstanding common equivalent shares were not included due to their anti-dilutive effect.