Note 2 - (Loss)/Earnings Per Share

3 Months Ended

Sep. 01, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 2 – (LOSS)/EARNINGS PER SHARE

Basic (loss)/earnings per share is computed by dividing net (loss)/income by the weighted average number of common shares outstanding during each period presented. Diluted (loss)/earnings per share gives effect to stock options and restricted stock outstanding during the applicable periods, except during loss periods as the effect would be anti-dilutive. The following table reflects the calculation of weighted average common and dilutive potential common shares outstanding as presented in the accompanying Condensed Consolidated Statements of Operations and Comprehensive (Loss)/Income (in thousands, except per share data):

	Thirteen weeks ended
	September 1, 2015			September 2, 2014
Net (loss)/income	$	(4,194	)	$	2,565
Weighted average common shares outstanding		61,344			60,419
Dilutive effect of stock options and restricted stock		–			634
Weighted average common and dilutive potential common shares outstanding		61,344			61,053
Basic (loss)/earnings per share	$	(0.07	)	$	0.04
Diluted (loss)/earnings per share	$	(0.07	)	$	0.04

Stock options with an exercise price greater than the average market price of our common stock and certain options, restricted stock, and restricted share units with unrecognized compensation expense do not impact the computation of diluted loss per share because the effect would be anti-dilutive. The following table summarizes stock options, restricted shares, and restricted share units that were excluded from the computation of diluted loss per share because their inclusion would have had an anti-dilutive effect (in thousands):

	Thirteen weeks ended
	September 1, 2015		September 2, 2014
Stock options		2,813		2,826
Restricted shares / Restricted share units		749		8
Total		3,562		2,834