Net Income (Loss) Per Common Share

6 Months Ended

Jul. 31, 2025

Note 5 – Net Income (Loss) Per Common Share

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Diluted net income (loss) per share is calculated by dividing net income (loss) 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 31, 2025			August 3, 2024			July 31, 2025			August 3, 2024
Weighted Average Common Shares Outstanding – Basic		7,609,917			7,515,706			7,585,228			7,489,223
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		—	(1)		—	(2)		—	(1)		128,183
Weighted Average Common Shares Outstanding – Diluted		7,609,917			7,515,706			7,585,228			7,617,406

(1)For the three and six months ended July 31, 2025 we had weighted average common stock equivalent shares outstanding of 38,232 and 51,130, 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 period.

(2)For the three months ended August 3, 2024, we had weighted average common stock equivalent shares outstanding of 86,197, 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 31, 2025, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 383,744 and 419,130, respectively. For the three and six months ended August 3, 2024, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 218,210 and 223,011, respectively. These outstanding common equivalent shares were not included due to their anti-dilutive effect.