Net Income Per Common Share

9 Months Ended

Nov. 02, 2024

Note 5 – 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				Nine Months Ended
	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
Weighted Average Common Shares Outstanding – Basic		7,524,468		7,428,202		7,500,844		7,406,985
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		55,415		56,790		103,927		70,363
Weighted Average Common Shares Outstanding – Diluted		7,579,883		7,484,992		7,604,771		7,477,348

For the three and nine months ended November 2, 2024, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 312,819 and 232,748, respectively. For the three and nine months ended October 28, 2023, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 505,293 and 390,326, respectively. These outstanding common equivalent shares were not included due to their anti-dilutive effect.