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Income per Share
 12 Months Ended
Apr. 26, 2013
Income Per Share [Abstract]  
Income Per Share

Note 16.  Income Per Share

 

The following table sets forth the computation of basic and diluted net income per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

52 Weeks Ended

 

52 Weeks Ended

 

52 Weeks Ended

 

 

April 26, 2013

 

April 27, 2012

 

April 29, 2011

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$
46,357,502 

 

$
36,077,732 

 

$
46,725,710 

Add effect of Convertible Notes (1)

 

 

 -

 

 
97,486 

 

 
112,061 

Diluted income

 

$
46,357,502 

 

$
36,175,218 

 

$
46,837,771 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 
27,604,006 

 

 
27,826,586 

 

 
28,050,638 

Add effects of:

 

 

 

 

 

 

 

 

 

Stock options

 

 
404,954 

 

 
367,671 

 

 
382,596 

Convertible Notes (1)

 

 

 -

 

 
112,475 

 

 
176,385 

Diluted weighted average shares outstanding

 

 
28,008,960 

 

 
28,306,732 

 

 
28,609,619 

Basic income per share

 

$
1.68 

 

$
1.30 

 

$
1.67 

Diluted income per share

 

$
1.66 

 

$
1.28 

 

$
1.64 

 

(1)

We determine the dilutive effect of any retired or repurchased Convertible Notes separately from the dilutive effect of Convertible Notes outstanding at period end.

 

Anti-dilutive securities excluded from the computation of earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

52 Weeks Ended

 

52 Weeks Ended

 

52 Weeks Ended

 

 

April 26, 2013

 

April 27, 2012

 

April 29, 2011

Stock options (1)

 
30,987 

 
111,738 

 
474,887 

Warrants (2)

 
0 

 
3,012,050 

 
3,012,050 

 

(1) Outstanding options to purchase common shares that are excluded from the computation of earnings per share because to include them would have been anti-dilutive.

(2) In conjunction with our Convertible Notes issuance in September 2005, we sold common stock warrants at an exercise price of  $50.00 per share. The warrants were anti-dilutive for the fiscal years 2012 and 2011 because the exercise price of the warrants exceeded the average market price of our stock during those fiscal years. The warrants were settled during the quarter ended January 25, 2013.