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Net (Loss) Income Per Share
9 Months Ended
Jan. 29, 2023
Earnings Per Share [Abstract]  
Net (Loss) Income Per Share

11. Net (Loss) Income Per Share

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

 

 

 

Three months ended

 

(amounts in thousands)

 

January 29, 2023

 

 

January 30, 2022

 

Weighted average common shares outstanding, basic

 

 

12,299

 

 

 

12,212

 

Dilutive effect of stock-based compensation

 

 

 

 

 

 

Weighted average common shares outstanding, diluted

 

 

12,299

 

 

 

12,212

 

 

During the third quarter of fiscal 2023, 22,053 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 2023, 87,433 shares of unvested common stock were not included in the computation of diluted net loss per share as we incurred a net loss during the reporting period.

 

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.

 

 

 

Nine months ended

 

(amounts in thousands)

 

January 29, 2023

 

 

January 30, 2022

 

Weighted average common shares outstanding, basic

 

 

12,272

 

 

 

12,249

 

Dilutive effect of stock-based compensation

 

 

 

 

 

92

 

Weighted average common shares outstanding, diluted

 

 

12,272

 

 

 

12,341

 

 

During the nine-month period ending January 29, 2023, 31,176 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 nine-month period ending January 29, 2023, 68,380 shares of unvested common stock were not included in the computation of diluted net loss per share as we incurred a net loss during the reporting period.

 

During the nine-month period ending January 30, 2022, 11,711 shares 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.