Net Income Per Share

9 Months Ended

Oct. 31, 2020

Note 2 - Net Income Per Share

The following tables set forth the computation of basic and diluted net income per share as shown on the face of the accompanying Condensed Consolidated Statements of Income:

	Thirteen Weeks Ended
	October 31, 2020						November 2, 2019
			(In thousands, except per share data)
Basic Net Income per Share:	Net Income		Shares		Per Share Amount		Net Income			Shares		Per Share Amount
Net income	$	14,678					$	13,726
Conversion of stock-based compensation arrangements		0						(12	)
Net income available for basic common shares and basic net income per share	$	14,678		14,090	$	1.04	$	13,714			14,404	$	0.95
Diluted Net Income per Share:
Net income	$	14,678					$	13,726
Conversion of stock-based compensation arrangements		0		176				(12	)		152
Net income available for diluted common shares and diluted net income per share	$	14,678		14,266	$	1.03	$	13,714			14,556	$	0.94

	Thirty-nine Weeks Ended
	October 31, 2020						November 2, 2019
			(In thousands, except per share data)
Basic Net Income per Share:	Net Income		Shares		Per Share Amount		Net Income			Shares		Per Share Amount
Net income	$	8,548					$	39,431
Conversion of share-based compensation arrangements		0						(66	)
Net income available for basic common shares and basic net income per share	$	8,548		14,057	$	0.61	$	39,365			14,544	$	2.71
Diluted Net Income per Share:
Net income	$	8,548					$	39,431
Conversion of share-based compensation arrangements		0		168				(65	)		282
Net income available for diluted common shares and diluted net income per share	$	8,548		14,225	$	0.60	$	39,366			14,826	$	2.66

The computation of basic net income per share of common stock is based on the weighted average number of common shares outstanding during the period. The computation of diluted net income per share is based on the weighted average number of shares outstanding plus the dilutive incremental shares that would be outstanding assuming the vesting of restricted stock awards, restricted stock units and performance stock units. A small portion of these awards that were outstanding at the beginning of fiscal 2020 and vested during the thirty-nine weeks ended October 31, 2020, had a non-forfeitable right to dividends. The computation of diluted net income per share excluded approximately 2,000 unvested share-settled awards for the third quarter of fiscal 2020 and 3,000 unvested share-settled equity awards for the first nine months of fiscal 2020 because the impact would be anti-dilutive. For the other periods presented, all unvested share-settled equity awards were dilutive.