Earnings Per Share

12 Months Ended

Jan. 25, 2020

Earnings Per Share

Earnings Per Share

13.    Earnings Per Share

In accordance with ASC 260, (Topic 260, “Earnings Per Share”), basic earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average shares outstanding for the period and include the dilutive impact of potential shares from the exercise of stock options. Potentially dilutive securities are excluded from the computation of diluted net (loss) income per share if their effect is anti-dilutive.

The following table sets forth the calculation of basic and diluted earnings per share as follows (dollars in thousands, except share and per share data):

	Fiscal Year Ended
	January 25, 2020		January 26, 2019		January 27, 2018
Numerator:
Net (loss) income	$	(214,435)	$	48,996	$	31,812
Denominator:
Weighted average common shares outstanding-basic		63,975,633		62,936,959		60,503,860
Effect of dilutive securities:
Stock options and restricted stock units		—		3,362,687		3,208,143
Weighted average common shares outstanding-diluted		63,975,633		66,299,646		63,712,003
Net (loss) income per common share:
Basic	$	(3.35)	$	0.78	$	0.53
Diluted	$	(3.35)	$	0.74	$	0.50

For the fiscal years ended January 25, 2020, January 26, 2019 and January 27, 2018, approximately 7,695,386, 2,029,602 and 146,457, respectively, of stock options and restricted stock units (“RSU”) were excluded from the calculation of diluted net income per common share since their effect was anti-dilutive, of which 601,672 stock options and RSUs would have been included as dilutive had we not recognized a net loss for the fiscal year ended January 25, 2020.