Earnings (Loss) Per Share

3 Months Ended

Apr. 29, 2023

Note 8. Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Except when the effect would be anti-dilutive, diluted earnings (loss) per share is calculated based on the weighted average number of shares of common stock outstanding plus the dilutive effect of share-based awards calculated under the treasury stock method. In periods when the Company incurs a net loss, share-based awards are excluded from the calculation of earnings per share as their inclusion would have an anti-dilutive effect.

The following is a reconciliation of weighted average basic shares to weighted average diluted shares outstanding:


	Three Months Ended
	April 29,		April 30,
	2023		2022
Weighted-average shares—basic		12,342,355		12,030,826
Effect of dilutive equity securities		—		—
Weighted-average shares—diluted		12,342,355		12,030,826

Because the Company incurred a net loss for the three months ended April 29, 2023 and April 30, 2022, weighted-average basic shares and weighted-average diluted shares outstanding are equal for these periods.