Net (Loss) Income Per Share

6 Months Ended

Jul. 28, 2012

Net (Loss) Income Per Share [Abstract]

NET (LOSS) INCOME PER SHARE

11. NET (LOSS) INCOME PER SHARE

Basic net (loss) income per share is computed by dividing net income by the weighted average shares of outstanding common stock. The calculation of diluted net (loss) income per share is similar to basic earnings per share except that the denominator includes potentially dilutive common stock. The potentially dilutive common stock included in the Company’s computation of diluted net income per share includes the effects of stock options, stock appreciation rights (“SARS”), warrants and unvested restricted shares as determined using the treasury stock method.

The following table sets forth the computation of basic and diluted (loss) income per share:

	Three Months Ended					Six Months Ended
	July 28, 2012			July 30, 2011		July 28, 2012		July 30, 2011
	(in thousands, except per share data)
Numerator:
Net (loss) income	$	(2,442	)	$	1,847	$	7,234	$	17,225
Denominator:
Basic-weighted average shares		14,703			15,289		14,672		14,855
Dilutive effect: equity awards		—			1,068		486		1,039
Dilutive effect: warrant		—			107		107		107
Diluted-weighted average shares		14,703			16,464		15,265		16,001
Basic (loss) income per share	$	(0.17	)	$	0.12	$	0.49	$	1.16
Diluted (loss) income per share	$	(0.17	)	$	0.11	$	0.47	$	1.08
Antidilutive effect: (1)		2,849			577		1,328		537

⁽¹⁾ Represents weighted average of stock options to purchase shares of common stock, SARS, restricted stock and a warrant that were not included in computing diluted income per share because their effects were antidilutive for the respective periods.