7. Earnings Per Share

6 Months Ended

Jul. 31, 2011

Earnings Per Share [Text Block]

7.             Earnings Per Share

Since 2006, we have issued restricted stock awards to non-employee members of the board of directors under our stock incentive plan and expect to continue to grant these awards to non-employee board members.  These awards vest if the director remains on the board through a 36-month service period and may vest earlier upon certain events specified in the plan. As of July 31, 2011 and January 30, 2011 there were 31,795 shares and 20,630 shares, respectively, of unvested restricted stock outstanding, net of forfeitures and vested shares on each date.  Restricted shares awarded that have not yet vested are considered when computing diluted earnings per share.

The following table sets forth the computation of basic and diluted earnings per share:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 31,		August 1,		July 31,		August 1,
	2011		2010		2011		2010
Net income	$	1,646	$	1,178	$	2,169	$	2,252
Less: Unvested participating restricted stock dividends		4		2		5		4
Earnings available for common shareholders		1,642		1,176		2,164		2,248
Weighted average shares outstanding for basic earnings per share		10,761		10,757		10,761		10,757
Dilutive effect of unvested restricted stock awards		23		11		23		10
Weighted average shares outstanding for diluted earnings per share		10,784		10,768		10,785		10,767
Basic earnings per share	$	0.15	$	0.11	$	0.20	$	0.21
Diluted earnings per share	$	0.15	$	0.11	$	0.20	$	0.21