Net Income Per Common Share

3 Months Ended

Apr. 27, 2024

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 27, 2024		April 29, 2023
Weighted Average Common Shares Outstanding – Basic		7,459,394		7,369,930
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		168,631		80,122
Weighted Average Common Shares Outstanding – Diluted		7,628,025		7,450,052

For the three months ended April 27, 2024 and April 29, 2023, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 181,999 and 656,554, respectively. These outstanding common equivalent shares were not included due to their anti-dilutive effect.