Note 2 - Net Income Per Common Share

9 Months Ended

Mar. 27, 2016

Note 2 – Net Income (Loss) Per Common Share

The following table sets forth the computation of basic and diluted net income (loss) per common share:

	Three Months Ended						Nine Months Ended
	March 27, 2016			March 29, 2015			March 27, 2016			March 29, 2015
				(in thousands, except per share data)
Numerator:
Net income (loss)	$	(9,126	)	$	(10,813	)	$	46,922		$	30,149
Less: Net loss attributable to noncontrolling interest		-			(318	)		(1,007	)		(877	)
Income (loss) attributable to 1-800-FLOWERS.COM, Inc.	$	(9,126	)	$	(10,495	)	$	47,929		$	31,026

Denominator:
Weighted average shares outstanding		64,687			64,909			64,724			64,433
Effect of dilutive securities (2)
Employee stock options (1)		-			-			1,428			1,507
Employee restricted stock awards		-			-			901			1,194
		-			-			2,329			2,701
Adjusted weighted-average shares and assumed conversions		64,687			64,909			67,053			67,134

Net income per common share attributable to 1-800-FLOWERS.COM, Inc.
Basic	$	(0.14	)	$	(0.16	)	$	0.74		$	0.48
Diluted	$	(0.14	)	$	(0.16	)	$	0.71		$	0.46

Note (1):

The effect of options to purchase 0.1 million shares for both the three and nine months ended March 27, 2016 and 0.1 million and 0.3 million shares for the three and nine months ended March 29, 2015, respectively, were excluded from the calculation of net income (loss) per share on a diluted basis as their effect is anti-dilutive.

Note (2)

As a result of the net loss from continuing operations attributable to 1-800-FLOWERS.COM, Inc. for the three months ended March 27, 2016 and March 29, 2015, there is no dilutive impact to the net loss per share calculation for the respective periods.