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EARNINGS PER SHARE
 9 Months Ended
Nov. 02, 2013
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 8—EARNINGS PER SHARE

 

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

 

 

 

Thirteen Weeks Ended

 

Thirty-nine Weeks Ended

 

(dollar amounts in thousands, except per share amounts)

 

November 2,
2013

 

October 27,
2012

 

November 2,
2013

 

October 27,
2012

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Earnings (loss) from continuing operations

 

$

1,013

 

$

(6,695

)

$

10,320

 

$

27,473

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations, net of tax

 

(49

)

(64

)

(124

)

(122

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 

$

964

 

$

(6,759

)

$

10,196

 

$

27,351

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Basic average number of common shares outstanding during period

 

53,315

 

53,304

 

53,363

 

53,175

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

615

 

—

 

599

 

768

 

 

 

 

 

 

 

 

 

 

 

 

(c)

Diluted average number of common shares assumed outstanding during period

 

53,930

 

53,304

 

53,962

 

53,943

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from continuing operations (a/b)

 

$

0.02

 

$

(0.13

)

$

0.19

 

$

0.51

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

Basic earnings (loss) per share

 

$

0.02

 

$

(0.13

)

$

0.19

 

$

0.51

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from continuing operations (a/c)

 

$

0.02

 

$

(0.13

)

$

0.19

 

$

0.51

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

Diluted earnings (loss) per share

 

$

0.02

 

$

(0.13

)

$

0.19

 

$

0.51

 

 

As of November 2, 2013 and October 27, 2012, respectively, there were 2,572,000 and 2,571,000 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 is 824,000 and 2,571,000 for the thirteen weeks ended November 2, 2013 and October 27, 2012, respectively.  The total number of such shares excluded from the diluted earnings per share calculation is 1,011,000 and 740,494 for the thirty-nine weeks ended November 2, 2013 and October 27, 2012.