Earnings per Share

6 Months Ended

Oct. 28, 2023

The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share:


	Quarter Ended				Six Months Ended
(Unaudited, amounts in thousands, except per share data)	10/28/2023		10/29/2022		10/28/2023		10/29/2022
Numerator (basic and diluted):


Net income available to common Shareholders	$	27,199	$	46,077	$	54,678	$	84,565

Denominator:
Basic weighted average common shares outstanding	43,008		43,104		43,123		43,098
Contingent common shares	296		78		289		76
Stock option dilution	97		—		67		—
Diluted weighted average common shares outstanding (1)	43,401		43,182		43,479		43,174

Earnings per Share:
Basic	$	0.63	$	1.07	$	1.27	$	1.96
Diluted	$	0.63	$	1.07	$	1.26	$	1.96

(1)Diluted earnings per share was computed using the treasury stock method.

The values for contingent common shares set forth above reflect the dilutive effect of common shares that we would have issued to employees under the terms of performance-based share awards if the relevant performance period for the award had been the reporting period.

We exclude the effect of options from our diluted share calculation when the weighted average exercise price of the options is higher than the average market price, since including the options' effect would be anti-dilutive. For the second quarter and six months ended October 28, 2023, we excluded options to purchase 0.5 million shares and 0.7 million shares, respectively, from the diluted share calculation. For the second quarter and six months ended October 29, 2022, we excluded options to purchase 1.5 million shares from the diluted share calculation.