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Net Income Per Share
 9 Months Ended
Jan. 29, 2012
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)
  
January 29, 2012
  
January 30, 2011
Weighted average common shares outstanding, basic
     12,536       13,005  
Dilutive effect of stock-based compensation
     141       223  
Weighted average common shares outstanding, diluted
     12,677       13,228  
 
Options to purchase 142,750 shares of common stock were not included in the computation of diluted net income per share for the three months ended January 29, 2012, 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 per share as the exercise price of the options was less than average market price of the common shares for the three months ended January 30, 2011.

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 January 29, 2012 and January 30, 2011, respectively.
 
   
Nine months ended
(amounts in thousands)
  
January 29, 2012
  
January 30, 2011
Weighted average common shares outstanding, basic
     12,777       12,936  
Dilutive effect of stock-based compensation
     141       282  
Weighted average common shares outstanding, diluted
     12,918       13,218  
 
Options to purchase 142,750 shares of common stock were not included in the computation of diluted net income per share for the nine months ended January 29, 2012, 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 nine months ended January 30, 2011, 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 nine months ending January 29, 2012 and January 30, 2011, respectively.