NET INCOME PER SHARE

12 Months Ended

May. 03, 2015

14.	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 are as follows:

(in thousands)	2015		2014		2013
weighted-average common shares outstanding, basic		12,217		12,177		12,235
dilutive effect of stock-based compensation		205		237		215
weighted-average common shares outstanding, diluted		12,422		12,414		12,450

All options to purchase shares of common stock were included in the computation of diluted net income for fiscal years 2015, 2014 and 2013, as the exercise price of the options was less than the average market price of common shares.

At May 3, 2015, there were no outstanding and unvested shares of time vested restricted common stock and therefore, the computation of basic net income per share was not affected. The computation of basic net income did not include 61,668 and 123,335 shares of time vested restricted common stock as these shares were unvested for fiscal 2014 and 2013.