Net Income Per Share

9 Months Ended

Nov. 02, 2019

NOTE 12—NET INCOME PER SHARE

The weighted-average shares used for net income per share are as follows:


	Three Months Ended		Nine Months Ended
	November 2,	November 3,	November 2,	November 3,
	2019	2018	2019	2018
Weighted-average shares—basic	18,765,769	22,082,141	19,069,501	21,850,955
Effect of dilutive stock-based awards	4,712,355	4,966,376	4,347,713	4,603,390
Effect of dilutive convertible senior notes⁽¹⁾	692,048	654,802	392,211	355,690
Weighted-average shares—diluted	24,170,172	27,703,319	23,809,425	26,810,035

(1)

The 2019 Notes, 2020 Notes, 2023 Notes and 2024 Notes have an impact on the Company’s dilutive share count beginning at stock prices of $116.09 per share, $118.13 per share, $193.65 per share and $211.40 per share, respectively. The 2019 Notes matured on June 15, 2019 and did not have an impact of the Company’s dilutive share count post-maturity, other than the exercise of warrants as discussed within Note 8—Convertible Senior Notes.

The following number of options and restricted stock units were excluded from the calculation of diluted net income per share because their inclusion would have been anti-dilutive:


	Three Months Ended		Nine Months Ended
	November 2,	November 3,	November 2,	November 3,
	2019	2018	2019	2018
Options	190,766	348,423	457,300	348,127
Restricted stock units	—	—	—	3,500
Total anti-dilutive stock-based awards	190,766	348,423	457,300	351,627