Note 11 - Earnings Per Share

9 Months Ended

May 06, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 11. Earnings Per Share

Basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding and unvested restricted stock for the reporting period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted net income per share, the basic weighted average number of shares is increased by the dilutive effect of stock options determined using the treasury stock method. Stock options excluded from the computation of net income per share for the quarter ended May 6, 2015 include approximately 366,000 shares with exercise prices exceeding market prices and approximately 85,000 shares whose inclusion would also be anti-dilutive. 

The components of basic and diluted net income per share are as follows:

	Quarter Ended						Three Quarters Ended
	May 6, 2015			May 7, 2014			May 6, 2015			May 7, 2014
	(12 weeks)			(12 weeks)			(36 weeks)			(36 weeks)
	(In thousands except per share data)
Numerator:
Income (loss) from continuing operations	$	2,529		$	1,741		$	(1,516	)	$	(532	)
Loss from discontinued operations		(176	)		(12	)		(509	)		(1,468	)
Net income (loss)	$	2,353		$	1,729		$	(2,025	)	$	(2,000	)
Denominator:
Denominator for basic earnings per share – weighted-average shares		29,009			28,791			28,940			28,777
Effect of potentially dilutive securities:
Employee and non-employee stock options		102			685			—			—
Denominator for earnings per share assuming dilution		29,111			29,476			28,940			28,777
Income (loss) per share from continuing operations:
Basic	$	0.09		$	0.06		$	(0.05	)	$	(0.02	)
Assuming dilution	$	0.09		$	0.06		$	(0.05	)	$	(0.02	)
Loss per share from discontinued operations:
Basic	$	(0.01	)	$	—		$	(0.02	)	$	(0.05	)
Assuming dilution	$	(0.01	)	$	—		$	(0.02	)	$	(0.05	)
Net income (loss) per share:
Basic	$	0.08		$	0.06		$	(0.07	)	$	(0.07	)
Assuming dilution	$	0.08		$	0.06		$	(0.07	)	$	(0.07	)