Net Income Per Common Share

9 Months Ended

Oct. 31, 2020

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
	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Weighted Average Common Shares Outstanding – Basic		7,120,286		7,046,803		7,099,505		7,012,595
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		65,199		151,795		37,973		259,840

Weighted Average Common Shares Outstanding – Diluted		7,185,485		7,198,598		7,137,478		7,272,435

For the three and nine months ended October 31, 2020, the diluted per share amounts do not reflect common equivalent shares outstanding of 689,157 and 892,868

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