Earnings Per Share

12 Months Ended

Jan. 28, 2017

Our common stock consists of two classes: Class A and Class B. The Class A and Class B common stock have identical rights, except with respect to voting and conversion.

Net income per share is computed under the provisions of ASC Topic 260, Earnings Per Share. Basic net income per share is computed based on the weighted average number of common shares outstanding during the period. Diluted net income per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method, whereby proceeds from such exercise, unamortized compensation and hypothetical excess tax benefits, if any, on share-based awards are assumed to be used by us to purchase the common shares at the average market price during the period. Potentially dilutive shares of common stock represent outstanding stock options and restricted stock awards.

The components of basic and diluted earnings per share of Class A and Class B common stock, in aggregate, for fiscal years 2016, 2015 and 2014 are as follows (in thousands, except per share amounts):



	Fiscal Year Ended
	January 28, 2017		January 30, 2016		January 31, 2015
Net income	$	11,410	$	7,541	$	14,075
Weighted average basic shares outstanding	28,496		28,332		28,013
Dilutive effect of stock options and restricted stock	33		70		65
Weighted average shares for diluted earnings per share	28,529		28,402		28,078
Basic earnings per share of Class A and Class B common stock	$	0.40	$	0.27	$	0.50
Diluted earnings per share of Class A and Class B common stock	$	0.40	$	0.27	$	0.50

The earnings per share amounts are the same for Class A and Class B common stock, in aggregate, and individually for Class A and Class B common stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation. Shares of Class A and Class B common stock vote together as a single class on all matters submitted to a vote of stockholders. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to 10 votes per share.

The following stock options and restricted stock have been excluded from the calculation of diluted earnings per share as the effect of including these stock options and restricted stock would have been anti-dilutive (in thousands):



	Fiscal Year Ended
	January 28, 2017	January 30, 2016	January 31, 2015
Stock options	1,818	1,119	2,364
Restricted stock	99	154	—
Total	1,917	1,273	2,364