Income (Loss) Per Common Share

3 Months Ended

Apr. 30, 2016

Income Per Common Share

Basic income per common share amounts are calculated using the weighted-average number of common shares outstanding for the period. Diluted income per common share amounts are calculated using the weighted-average number of common shares outstanding for the period and include the dilutive impact of exercise of stock options as well as assumed lapse of restrictions on 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 following table reconciles net income and the weighted average common shares outstanding used in the computations of basic and diluted income per common share (in thousands, except for share and per share data):



	Thirteen Weeks Ended
	April 30, 2016		May 2, 2015
Numerator:
Net income	$	6,758	$	4,278
Denominator:
Weighted average common shares outstanding - basic	54,681,646		54,448,634
Dilutive impact of options, restricted stock units and employee stock purchase plan	283,244		268,512
Weighted average common shares outstanding - diluted	54,964,890		54,717,146
Per common share:
Basic income per common share	$	0.12	$	0.08
Diluted income per common share	$	0.12	$	0.08

The effects of the assumed exercise of stock options for 459,387 shares of common stock for the thirteen weeks ended April 30, 2016 were excluded from the calculation of diluted net income per share as their impact would have been anti-dilutive. The effects of the assumed exercise of stock options for 689,025 shares of common stock for the thirteen weeks ended May 2, 2015 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.