Net Income Per Share

6 Months Ended

Aug. 02, 2014

Notes to Financial Statements [Abstract]

Net Income Per Share

Earnings Per Share

The following tables present a reconciliation of basic and diluted earnings per share for the quarters and six months ended August 2, 2014 and August 3, 2013:

	Quarter Ended
	August 2, 2014					August 3, 2013
	(in thousands, except per share amounts)
Basic Earnings per Share:	Net Income		Shares	Per Share Amount		Net Income		Shares	Per Share Amount
Net income	$	32,679				$	35,649
Less net income associated with participating securities	685					709
Basic earnings per share	$	31,994	45,480	$	0.70	$	34,940	45,695	$	0.76
Diluted Earnings per Share:
Net income	$	32,679				$	35,649
Less net income associated with participating securities	678					702
Effect of dilutive securities			441					430
Diluted earnings per share	$	32,001	45,921	$	0.70	$	34,947	46,125	$	0.76

	Six Months Ended
	August 2, 2014					August 3, 2013
	(in thousands, except per share amounts)
Basic Earnings per Share:	Net Income		Shares	Per Share Amount		Net Income		Shares	Per Share Amount
Net income	$	37,862				$	56,561
Less net income associated with participating securities	770					1,077
Basic earnings per share	$	37,092	45,529	$	0.81	$	55,484	45,887	$	1.21
Diluted Earnings per Share:
Net income	$	37,862				$	56,561
Less net income associated with participating securities	762					1,066
Effect of dilutive securities			453					445
Diluted earnings per share	$	37,100	45,982	$	0.81	$	55,495	46,332	$	1.20

For the six months ended August 2, 2014, non-participating securities (stock options) representing 12,000 shares of common stock were excluded from the computation of weighted average shares for diluted earnings per share due to their antidilutive effect, since their exercise prices exceeded the average market price of the common shares during that period. There were no such shares excluded from the computation of weighted average shares for diluted earnings per share for the quarter ended August 2, 2014.

For the quarter and six months ended August 3, 2013, non-participating securities (stock options) representing 710,200 and 754,435 shares of common stock, respectively, were excluded from the computation of weighted average shares for diluted earnings per share due to their antidilutive effect, since their exercise prices exceeded the average market price of the common shares during those periods.