Income Per Common Share

9 Months Ended

Oct. 31, 2020

Income (Loss) Per Common Share

Basic income (loss) per common share amounts are calculated using the weighted average number of common shares outstanding for the period. Diluted income (loss) per common share amounts are calculated using the weighted average number of common shares outstanding for the period and include the dilutive impact of exercised stock options as well as assumed vesting of restricted stock awards and shares currently available for purchase under the Company's Employee Stock Purchase Plan, using the treasury stock method. Performance-based restricted stock units are considered contingently issuable shares for diluted income per common share purposes and the dilutive impact, if any, is not included in the weighted average shares until the performance conditions are met. The dilutive impact, if any, for performance-based restricted stock units, which are subject to market conditions based on our total shareholder return relative to a pre-defined peer group, are included in the weighted average shares.

The following table reconciles net income (loss) and the weighted average common shares outstanding used in the computations of basic and diluted income (loss) per common share (in thousands, except for share and per share data):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Numerator:
Net income (loss)	$	20,425	$	10,189	$	(576)	$	64,682






Denominator:
Weighted average common shares outstanding - basic	55,851,780		55,672,796		56,004,072		55,855,526
Dilutive impact of options, restricted stock units and employee stock purchase plan	247,548		346,940		—		353,192
Weighted average common shares outstanding - diluted	56,099,328		56,019,736		56,004,072		56,208,718
Per common share:
Basic income (loss) per common share	$	0.37	$	0.18	$	(0.01)	$	1.16
Diluted income (loss) per common share	$	0.36	$	0.18	$	(0.01)	$	1.15

The effects of the assumed vesting of restricted stock units for 4,361 shares of common stock for the thirteen weeks ended October 31, 2020 were excluded from the calculation of diluted net income per share, as their impact would have been anti-dilutive.

For the thirty-nine weeks ended October 31, 2020, all common stock equivalents related to outstanding stock options and unvested restricted units were excluded from the calculation of diluted net loss per share, as their impact would have been anti-dilutive due to the Company's net loss for the period.

The effects of the assumed vesting of restricted stock units for 2,303 and 768 shares of common stock for the thirteen and thirty-nine weeks ended November 2, 2019, respectively, were excluded from the calculation of diluted net income per share, as their impact would have been anti-dilutive.

The aforementioned excluded shares do not reflect the impact of any incremental repurchases under the treasury stock method.