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EARNINGS PER SHARE
 9 Months Ended
Oct. 29, 2011
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 11—EARNINGS PER SHARE

 

The following table presents the calculation of basic and diluted earnings per share for earnings from continuing operations and net earnings:

 

 

 

Thirteen Weeks Ended

 

Thirty-nine Weeks Ended

 

(in thousands, except per share amounts)

 

October 29,
2011

 

October 30,
2010

 

October 29,
2011

 

October 30,
2010

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Earnings from continuing operations

 

$

7,022

 

$

5,674

 

$

33,319

 

$

28,633

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from discontinued operations, net of tax

 

(11

)

44

 

3

 

(367

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

7,011

 

$

5,718

 

$

33,322

 

$

28,266

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Basic average number of common shares outstanding during period

 

52,998

 

52,717

 

52,933

 

52,637

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares assumed issued upon exercise of dilutive stock options, net of assumed repurchase, at the average market price

 

600

 

447

 

661

 

434

 

 

 

 

 

 

 

 

 

 

 

 

(c)

Diluted average number of common shares assumed outstanding during period

 

53,598

 

53,164

 

53,594

 

53,071

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations (a/b)

 

$

0.13

 

$

0.11

 

$

0.63

 

$

0.54

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

(0.01

)

 

Basic earnings per share

 

$

0.13

 

$

0.11

 

$

0.63

 

$

0.53

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

Net earnings from continuing operations (a/c)

 

$

0.13

 

$

0.11

 

$

0.62

 

$

0.54

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

(0.01

)

 

Diluted earnings per share

 

$

0.13

 

$

0.11

 

$

0.62

 

$

0.53

 

 

At October 29, 2011 and October 30, 2010, respectively, there were 2,640,000 and 2,321,000 outstanding options and restricted stock units. Certain stock options were excluded from the calculation of diluted earnings per share because their exercise prices were greater than the average market price of the common shares for the periods then ended and therefore would be anti-dilutive. The total numbers of such shares excluded from the diluted earnings per share calculation are 904,000 and 1,078,000 for the thirty-nine weeks ended October 29, 2011 and October 30, 2010, respectively. The total numbers of such shares excluded from the diluted earnings per share calculation are 1,050,000 and 1,059,000 for the thirteen weeks ended October 29, 2011 and October 30, 2010, respectively.