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Net Income Per Share
 6 Months Ended
Oct. 30, 2011
Net Income Per Share
12.  Net Income Per Share

Basic net income per share is computed using the weighted-average number of shares outstanding during the period.  Diluted net income per share uses the weighted-average number of shares outstanding during the period plus the dilutive effect of stock-based compensation calculated using the treasury stock method.  Weighted average shares used in the computation of basic and diluted net income per share follows:

   
Three months ended
  
(amounts in thousands)
  
October 30, 2011
    
October 31, 2010
  
Weighted average common shares outstanding, basic
     12,733       12,932  
Dilutive effect of stock-based compensation     138       235  
Weighted average common shares outstanding, diluted
     12,871       13,167  

Options to purchase 142,750 and 6,000 shares of common stock were not included in the computation of diluted net income per share for the three months ended October 30, 2011 and October 31, 2010, respectively, as the exercise price of the options was greater than the average market price of the common shares.

The computations of basic net income per share did not include 185,000 and 195,000 shares of time vested restricted common stock as these shares were unvested for the three months ending October 30, 2011 and October 31, 2010, respectively.

   
Six months ended
  
(amounts in thousands)
  
October 30, 2011
    
October 31, 2010
  
Weighted average common shares outstanding, basic
     12,898       12,901  
Dilutive effect of stock-based compensation
     127       285  
Weighted average common shares outstanding, diluted
     13,025       13,186  
 
Options to purchase 24,750 shares of common stock were not included in the computation of diluted net income per share for the six months ended October 30, 2011, as the exercise price of the options was greater than the average market price of the common shares. All options of common stock were included in the computation of diluted net income for the six months ending October 31, 2010, as the exercise price of the options was less than the average market price of the common shares.

The computations of basic net income per share did not include 185,000 and 195,000 shares of time vested restricted common stock as these shares were unvested for the six months ending October 30, 2011 and October 31, 2010, respectively.