Net Income (Loss) Per Common Share

9 Months Ended

Oct. 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				Nine Months Ended
	October 31, 2025		November 2, 2024		October 31, 2025			November 2, 2024
Weighted Average Common Shares Outstanding – Basic		7,632,714		7,524,468		7,601,240			7,500,844
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		65,783		55,415		—	(1)		103,927
Weighted Average Common Shares Outstanding – Diluted		7,698,497		7,579,883		7,601,240			7,604,771

(1) For the nine months ended October 31, 2025 we had weighted average common stock equivalent shares outstanding of 54,522 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.

For the three and nine months ended October 31, 2025, the diluted per share amounts do not reflect weighted average common equivalent shares outstanding of 617,686 and 486,875, respectively. 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. These outstanding common equivalent shares were not included due to their anti-dilutive effect.