Net Income Per Common Share

3 Months Ended

Apr. 30, 2022

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
	April 30, 2022		May 1, 2021
Weighted Average Common Shares Outstanding – Basic		7,298,051		7,144,697
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		97,713		120,632

Weighted Average Common Shares Outstanding – Diluted		7,395,764		7,265,329

For the three months ended April 30, 2022 and May 1, 2021, the diluted per share amounts do not reflect common equivalent shares outstanding of 310,588 and 622,020, respectively, because of their anti-dilutive effect.