Net Income Per Common Share

3 Months Ended

May 01, 2021

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
	May 1, 2021		May 2, 2020


Weighted Average Common Shares Outstanding – Basic		7,144,697		7,073,278
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		120,632		31,365
Weighted Average Common Shares Outstanding – Diluted		7,265,329		7,104,643

For the three months ended May 1, 2021 and May 2, 2020, the diluted per share amounts do not reflect common equivalent shares outstanding of 622,020 and 865,157,

respectively, because of their anti-dilutive effect.