Earnings (Loss) Per Share

3 Months Ended

Apr. 28, 2012

Earnings (Loss) Per Share

NOTE 5. Earnings (Loss) Per Share

Basic earnings or loss per share is computed by dividing net income or net loss, respectively, by the weighted average number of common shares outstanding for the period.  Diluted earnings per share is applicable only in periods of net income and is computed by dividing net income by the weighted average number of common shares outstanding for the period and potentially dilutive common stock equivalents outstanding for the period.  Periods of net loss require the diluted computation to be the same as the basic computation.  As of the end of the first quarter of fiscal 2012 and 2011, options to purchase 3.2 and 5.0 million shares, respectively, of potentially anti-dilutive common stock equivalents were outstanding.

A reconciliation of the numerator and denominator of basic and diluted earnings (loss) per share is as follows (in thousands, except per share amounts):

	Three Months Ended
	April 28, 2012		April 30, 2011
Basic and diluted earnings (loss) per share computation:
Numerator	$	3,835	$	(7,661	)
Denominator:
Weighted average common shares outstanding		42,139		44,713
Incremental shares from assumed exercise/issuance of options and awards		682		-
Total shares		42,821		44,713
Basic earnings (loss) per share	$	0.09	$	(0.17	)
Diluted earnings (loss) per share	$	0.09	$	(0.17	)