Net Income (Loss) Per Common Share

6 Months Ended

Jul. 29, 2023

Note 5 – Net Income (Loss) Per Common Share

Basic net income (loss) per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income (loss) 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 (loss) per share is as follows:


	Three Months Ended			Six Months Ended
	July 29, 2023		July 30, 2022	July 29, 2023		July 30, 2022
Weighted Average Common Shares Outstanding – Basic	7,420,135		7,309,716	7,396,200		7,286,735
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units	-	*	38,230	-	*	67,972
Weighted Average Common Shares Outstanding – Diluted	7,420,135		7,347,946	7,396,200		7,354,707

*For the three and six months ended July 29, 2023, we had weighted average common stock equivalent shares outstanding of 74,178 and 77,150, respectively, that could potentially dilute earnings per share in future periods; these shares were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive given the net loss during the periods.

For the three and six months ended July 29, 2023, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 226,457 and 376,468, respectively. 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. These outstanding common equivalent shares were not included due to their anti-dilutive effect.