Net Income Per Common Share

6 Months Ended

Jul. 31, 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				Six Months Ended
	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Weighted Average Common Shares Outstanding – Basic		7,208,834		7,105,241		7,176,940		7,089,169
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		119,724		17,354		120,178		24,359

Weighted Average Common Shares Outstanding – Diluted		7,328,558		7,122,595		7,297,118		7,113,528

For the three and six months ended July 31, 2021, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding

of 189,827 and 484,748

respectively. For the three and six months ended August 1, 2020, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of

901,962 and 912,508

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