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Earnings per Common Share
3 Months Ended
Apr. 30, 2011
Earnings per Common Share  
Earnings per Common Share

NOTE 4 - EARNINGS PER COMMON SHARE

The computation of earnings per common share ("EPS") for the three months ended April 30, 2011 and May 1, 2010 are as follows:

 

    Three Months Ended  
    April 30, 2011     May 1, 2010  
    Net Income     Weighted
Average
Shares
    Per
Share
Amount
    Net Income     Weighted
Average
Shares
    Per
Share
Amount
 

Basic EPS

    $         28,409         156,402         $         0.18         $         18,785         153,739         $         0.12    

Effect of dilutive potential common shares

    3,984         45,162         (0.02)        3,704         45,156         (0.01)   
                                               

Diluted EPS

    $         32,393         201,564         $         0.16         $         22,489         198,895         $         0.11    
                                               

For the three-month periods ended April 30, 2011 and May 1, 2010, the computation of diluted EPS includes the effect of 40,889 shares that could be issued upon the conversion of the Company's 7.5% and 2.0% convertible notes and the related interest expense, net of tax, of $3,984 and $3,704, respectively, as the effect is dilutive. As of April 30, 2011 and May 1, 2010, the Company had 1,340 and 1,365 stock options that were excluded from the computation of diluted EPS because the exercise prices of the stock options exceeded the average market price of the Company's common stock for the period. These options represent the number of awards outstanding at the end of the period and application of the treasury stock method would reduce this amount if they had a dilutive effect and were included in the computation of diluted EPS.