EARNINGS PER SHARE

3 Months Ended

Apr. 28, 2012

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 8—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
(dollar amounts in thousands, except per share amounts)	April 28,2012			April 30,2011
(a) Earnings from continuing operations	$	1,134		$	12,405
Loss from discontinued operations, net of tax	(72		)	(37		)
Net earnings	$	1,062		$	12,368
(b) Basic average number of common shares outstanding during period	53,071			52,881
Common shares assumed issued upon exercise of dilutive stock options, net of assumed repurchase, at the average market price	878			685
(c) Diluted average number of common shares assumed outstanding during period	53,949			53,566
Basic earnings per share:
Earnings from continuing operations (a/b)	$	0.02		$	0.23
Discontinued operations, net of tax	—			—
Basic earnings per share	$	0.02		$	0.23
Diluted earnings per share:
Earnings from continuing operations (a/c)	$	0.02		$	0.23
Discontinued operations, net of tax	—			—
Diluted earnings per share	$	0.02		$	0.23

At April 28, 2012 and April 30, 2011, respectively, there were 2,654,000 and 2,717,000 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 number of such shares excluded from the diluted earnings per share calculation are 299,000 and 773,000 for the thirteen weeks ended April 28, 2012 and April 30, 2011, respectively.