Earnings (Loss) Per Share

9 Months Ended

Oct. 27, 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.  During the third quarter of fiscal 2012 and 2011, options to purchase 3.7 million and 2.8 million shares, respectively, of potentially anti-dilutive common stock equivalents were outstanding.  During fiscal year-to-date 2012 and 2011, options to purchase 3.4 million and 3.6 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				Nine Months Ended
	October 27, 2012		October 29, 2011		October 27, 2012		October 29, 2011
Basic and diluted earnings (loss) per share computation:
Numerator	$	4,289	$	3,113	$	7,357	$	(10,767	)
Denominator:
Weighted average common shares outstanding		42,319		43,942		42,237		44,492
Incremental shares from assumed exercise/issuance of options and awards		737		539		725		-
Total shares		43,056		44,481		42,962		44,492
Basic earnings (loss) per share	$	0.10	$	0.07	$	0.17	$	(0.24	)
Diluted earnings (loss) per share	$	0.10	$	0.07	$	0.17	$	(0.24	)