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Net Income (Loss) Per Share
9 Months Ended
Jan. 30, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share

11. Net Income (Loss) Per Share

Basic net income (loss) per share is computed using the weighted-average number of shares outstanding during the reporting period. Diluted net income (loss) per share uses the weighted-average number of shares outstanding during the reporting 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 (loss) per share are as follows:

 

 

 

Three months ended

 

(amounts in thousands)

 

January 30, 2022

 

 

January 31, 2021

 

Weighted average common shares outstanding, basic

 

 

12,212

 

 

 

12,305

 

Dilutive effect of stock-based compensation

 

 

 

 

 

64

 

Weighted average common shares outstanding, diluted

 

 

12,212

 

 

 

12,369

 

 

During the third quarter of fiscal 2022, 44,616 shares of unvested common stock were not included in the computation of diluted net loss per share, as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards. In addition, during the third quarter of fiscal 2022, 79,507 shares of unvested common stock were not included in the computation as we incurred a net loss during the reporting period.

 

During the third quarter of fiscal 2021, all unvested shares of common stock were included in the computation of diluted net income per share.

 

 

 

 

 

Nine months ended

 

(amounts in thousands)

 

January 30, 2022

 

 

January 31, 2021

 

Weighted average common shares outstanding, basic

 

 

12,249

 

 

 

12,297

 

Dilutive effect of stock-based compensation

 

 

92

 

 

 

2

 

Weighted average common shares outstanding, diluted

 

 

12,341

 

 

 

12,299

 

 

 

 

During the nine-month periods ended January 30, 2022 and January 31, 2021, 11,711 and 9,136 shares, respectively, of unvested common stock were not included in the computation of diluted net income per share, as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards.