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EARNINGS PER SHARE
 9 Months Ended
Oct. 27, 2012
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 27,
2012

 

October 29,
2011

 

October 27,
2012

 

October 29,
2011

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

 

(Loss) earnings from continuing operations

 

$

(6,695

)

$

7,022

 

$

27,473

 

$

33,319

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from discontinued operations, net of tax

 

(64

)

(11

)

(122

)

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) earnings

 

$

(6,759

)

$

7,011

 

$

27,351

 

$

33,322

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

 

Basic average number of common shares outstanding during period

 

53,304

 

52,998

 

53,175

 

52,933

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

—

 

600

 

768

 

661

 

 

 

 

 

 

 

 

 

 

 

 

 

(c)

 

Diluted average number of common shares assumed outstanding during period

 

53,304

 

53,598

 

53,943

 

53,594

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings from continuing operations (a/b)

 

$

(0.13

)

$

0.13

 

$

0.51

 

$

0.63

 

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

 

Basic (loss) earnings per share

 

$

(0.13

)

$

0.13

 

$

0.51

 

$

0.63

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings from continuing operations (a/c)

 

$

(0.13

)

$

0.13

 

$

0.51

 

$

0.62

 

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

 

Diluted (loss) earnings per share

 

$

(0.13

)

$

0.13

 

$

0.51

 

$

0.62

 

 

At October 27, 2012 and October 29, 2011, respectively, there were 2,571,000 and 2,640,000 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 740,494 and 904,000 for the thirty-nine weeks ended October 27, 2012 and October 29, 2011, respectively. The total number of such shares excluded from the diluted earnings per share calculation are 2,571,000 and 1,050,000 for the thirteen weeks ended October 27, 2012 and October 29, 2011, respectively.