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Computation of Earnings Per Common Share (Tables)
3 Months Ended
Apr. 27, 2019
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share Reconciliation
The following table sets forth the computation of basic and diluted earnings per common share (dollars in thousands, except per share amounts):
 
For the Three Months Ended
 
April 27, 2019
 
April 28, 2018
Net income available to common stockholders (numerator)
$
14,279

 
$
17,231

 
 
 
 
Weighted-average number of common shares (denominator)
31,451,809

 
31,190,366

 
 
 
 
Basic earnings per common share
$
0.45

 
$
0.55

 
 
 
 
Weighted-average number of common shares
31,451,809

 
31,190,366

Potential shares of common stock arising from stock options, and unvested restricted share units
334,650

 
602,549

Potential shares of common stock issuable on conversion of 0.75% convertible senior notes due 2021(1)

 
614,999

Total shares-diluted (denominator)
31,786,459

 
32,407,914

 
 
 
 
Diluted earnings per common share
$
0.45

 
$
0.53

 
 
 
 
Anti-dilutive weighted shares excluded from the calculation of earnings per common share:
Stock-based awards
266,371

 
80,847

0.75% convertible senior notes due 2021
5,005,734

 
4,390,735

Warrants
5,005,734

 
5,005,734

Total
10,277,839

 
9,477,316



(1) Under the treasury stock method, the convertible senior notes will have a dilutive impact on earnings per common share if the Company’s average stock price for the period exceeds the $96.89 per share conversion price for the convertible senior notes. The warrants associated with the Company’s convertible senior notes will have a dilutive impact on earnings per common share if the Company’s average stock price for the period exceeds the $130.43 per share warrant strike price. During the three months ended April 28, 2018, the Company’s average stock price of $110.46 exceeded the conversion price for the convertible senior notes. As a result, shares presumed to be issuable under the convertible senior notes that were dilutive during the period are included in the calculation of diluted earnings per share for the three months ended April 28, 2018. As the Company’s average stock price did not exceed the strike price for the warrants, the underlying common shares were anti-dilutive as reflected in the table above.