Earnings Per Share EPS

3 Months Ended

Aug. 01, 2020

Earnings Per Share [Abstract]

Earnings Per Share EPS

Note 3. Earnings Per Share ("EPS")

We follow the provisions of ASC 260, Earnings Per Share, where basic EPS is computed by dividing income attributable to common shareholders by the weighted average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution which may occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock which share in our earnings.

The following is a reconciliation of the net income and common share amounts used in the calculation of basic and diluted EPS for the three months ended August 1, 2020 and August 3, 2019: 

	Net income		Shares	Per share income
For the three months ended August 1, 2020
Basic earnings per share	$	7,467	44,654	$	0.17
Dilution associated with stock compensation plans	—		97	—
Diluted earnings per share	$	7,467	44,751	$	0.17
For the three months ended August 3, 2019
Basic earnings per share	$	7,030	45,089	$	0.16
Dilution associated with stock compensation plans	—		172	—
Diluted earnings per share	$	7,030	45,261	$	0.16

Options outstanding to purchase 2,119 shares of common stock with a weighted average exercise price of $9.96 for the three months ended August 1, 2020 and 2,197 shares of common stock with a weighted average exercise price of $10.03 for the three months ended August 3, 2019 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.