Note 2 - Loss Per Share

9 Months Ended

Mar. 01, 2016

NOTE 2 – LOSS

PER SHARE

Loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during each period presented. Diluted loss per share does not give effect to stock options and restricted stock outstanding during the applicable 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 (in thousands, except per share data):

	Thirteen weeks ended						Thirty-nine weeks ended
	March 1, 2016			March 3, 2015			March 1, 2016			March 3, 2015
Net loss	$	(3,086	)	$	(769	)	$	(23,079	)	$	(7,477	)

Weighted-average common shares outstanding		60,918			60,643			61,239			60,532
Dilutive effect of stock options and restricted stock		–			–			–			–
Weighted average common and dilutive potential common shares outstanding		60,918			60,643			61,239			60,532

Basic loss per share	$	(0.05	)	$	(0.01	)	$	(0.38	)	$	(0.12	)
Diluted loss per share	$	(0.05	)	$	(0.01	)	$	(0.38	)	$	(0.12	)

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 on a weighted-average basis 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				Thirty-nine weeks ended
	March 1, 2016		March 3, 2015		March 1, 2016		March 3, 2015
Stock options		2,140		3,057		2,509		3,087
Restricted shares / Restricted share units		871		1,412		862		1,350
Total		3,011		4,469		3,371		4,437