XML 57 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Net Income Per Share
 9 Months Ended
Jan. 26, 2014
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 26, 2014
  
January 27, 2013
Weighted average common shares outstanding, basic
     12,188       12,095  
Dilutive effect of stock-based compensation
     217       195  
Weighted average common shares outstanding, diluted
     12,405       12,290  
 
All options to purchase shares of common stock were included in the computation of diluted net income for the three months ended January 26, 2014 and January 27, 2013, respectively, as the exercise prices of the options were less that the average market price of the common shares.

The computations of basic net income per share did not include 61,667 and 123,335 shares of time vested restricted common stock as these shares were unvested for the three months ending January 26, 2014 and January 27, 2013, respectively.
 
     
   
Nine months ended
(amounts in thousands)
  
January 26, 2014
  
January 27, 2013
Weighted average common shares outstanding, basic
     12,173       12,279  
Dilutive effect of stock-based compensation
     232       188  
Weighted average common shares outstanding, diluted
     12,405       12,467  
 
All options to purchase shares of common stock were included in the computation of diluted net income for the nine months ended January 26, 2014, as the exercise prices of the options were less than the average market price of the common shares. Options to purchase 2,000 shares of common stock were not included in the computation of diluted net income per share for the nine months ended January 27, 2013, 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 61,667 and 123,335 shares of time vested restricted common stock as these shares were unvested for the nine months ending January 26, 2014 and January 27, 2013, respectively.