Net Income Per Common Share

6 Months Ended

Jul. 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				Six Months Ended
	July 30, 2022		July 31, 2021		July 30, 2022		July 31, 2021
Weighted Average Common Shares Outstanding – Basic		7,309,716		7,208,834		7,286,735		7,176,940
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		38,230		119,724		67,972		120,178

Weighted Average Common Shares Outstanding – Diluted		7,347,946		7,328,558		7,354,707		7,297,118

For the three and six months ended July 30, 2022, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 612,116 and 586,084

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