Net Income Per Share and Weighted Average Shares

3 Months Ended

Nov. 02, 2012

Net Income Per Share and Weighted Average Shares [Abstract]

Net Income Per Share and Weighted Average Shares

10.           Net Income Per Share and Weighted Average Shares

Basic consolidated net income per share is computed by dividing consolidated net income available to common shareholders by the weighted average number of shares of common stock outstanding for the reporting period.  Diluted consolidated net income per share reflects the potential dilution that could occur if securities, options or other contracts to issue shares of common stock were exercised or converted into shares of common stock and is based upon the weighted average number of shares of common stock and common equivalent shares outstanding during the reporting period. Common equivalent shares related to stock options, nonvested stock awards and MSU Grants issued by the Company are calculated using the treasury stock method.  The Company's outstanding stock options, nonvested stock awards and MSU Grants issued by the Company represent the only dilutive effects on diluted consolidated net income per share.

The following table reconciles the components of diluted earnings per share computations:

	Quarter Ended
	November 2, 2012		October 28, 2011
Net income per share numerator	$	23,192	$	23,802
Net income per share denominator:
Basic weighted average shares outstanding		23,577,574		22,870,934
Add potential dilution:
Stock options, nonvested stock awards and MSU Grants		210,051		274,849
Diluted weighted average shares outstanding		23,787,625		23,145,783