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Net Income Per Share
 9 Months Ended
Jan. 27, 2013
Net Income Per Share
11.  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 27, 2013
    
January 29, 2012
  
Weighted average common shares outstanding, basic
     12,095       12,536  
Dilutive effect of stock-based compensation
     195       141  
Weighted average common shares outstanding, diluted
     12,290       12,677  

All options to purchase shares of common stock were included in the computation of diluted net income for the three months ended January 27, 2013, as the exercise price of the options was less that the average market price of the common shares. 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.

The computations of basic net income per share did not include 123,335 and 185,000 shares of time vested restricted common stock as these shares were unvested for the three months ending January 27, 2013 and January 29, 2012, respectively.

             
   
Nine months ended
  
(amounts in thousands)
  
January 27, 2013
    
January 29, 2012
  
Weighted average common shares outstanding, basic
     12,279       12,777  
Dilutive effect of stock-based compensation
     188       141  
Weighted average common shares outstanding, diluted
     12,467       12,918  

Options to purchase 2,000 and 142,750 shares of common stock were not included in the computation of diluted net income per share for the nine months ended January 27, 2013 and January 29, 2012, 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 123,335 and 185,000 shares of time vested restricted common stock as these shares were unvested for the nine months ending January 27, 2013 and January 29, 2012, respectively.