XML 52 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings per Share
 6 Months Ended
Aug. 02, 2014
Earnings Per Share [Abstract]  
Earnings per Share
5.            Earnings per Share

Basic earnings per share is computed using the weighted average number of common shares outstanding during the measurement period.  Diluted earnings per share is computed using the weighted average number of common shares as well as all potentially dilutive common share equivalents outstanding during the measurement period. For the six months ended August 2, 2014, 113,523 shares were attributable to stock options, SARs and non-vested stock grants that would have been considered dilutive securities but were excluded from the calculation of diluted earnings per share because the effect was anti-dilutive due to the net loss for the period.

Under Accounting Standards Codification ("ASC") 260-10, Earnings Per Share, non-vested stock grants that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the calculation of basic and diluted earnings per share pursuant to the two-class method.  The two-class method determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings.  Earnings per share have been calculated under the two-class method.


The following tables show the computation of basic and diluted earnings per share from continuing operations for each period presented (in thousands, except per share amounts):
 
Three Months Ended
 
Six Months Ended
 
August 2, 2014
 
August 3, 2013
 
August 2, 2014
 
August 3, 2013
Basic EPS from continuing operations:
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
11,192

 
$
10,832

 
$
(854
)
 
$
4,644

Less: Allocation of earnings to participating securities
(152
)
 
(154
)
 
—

 
(68
)
Net income (loss) from continuing operations allocated to common shares
11,040

 
10,678

 
(854
)
 
4,576

 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
31,757

 
32,762

 
31,624

 
32,534

Basic EPS from continuing operations
$
0.35

 
$
0.33

 
$
(0.03
)
 
$
0.14

 
 
 
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
August 2, 2014
 
August 3, 2013
 
August 2, 2014
 
August 3, 2013
Diluted EPS from continuing operations:
 

 
 

 
 
 
 
Income (loss) from continuing operations
$
11,192

 
$
10,832

 
$
(854
)
 
$
4,644

Less: Allocation of earnings to participating securities
(152
)
 
(153
)
 
—

 
(68
)
Net income (loss) from continuing operations allocated to common shares
11,040

 
10,679

 
(854
)
 
4,576

 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
31,757

 
32,762

 
31,624

 
32,534

Add: Dilutive effect of stock awards
68

 
311

 
—

 
374

Diluted weighted average shares outstanding
31,825

 
33,073

 
31,624

 
32,908

Diluted EPS from continuing operations
$
0.35

 
$
0.32

 
$
(0.03
)
 
$
0.14


 
The following table illustrates the number of stock options and SARs that were outstanding, but not included in the computation of diluted earnings per share because the exercise price of the stock options and SARs was greater than the average market price of the Company's common shares for each period presented (in thousands):
 
Three Months Ended
 
Six Months Ended
 
August 2, 2014
 
August 3, 2013
 
August 2, 2014
 
August 3, 2013
Number of anti-dilutive stock options and SARs outstanding
218

 
115

 
250

 
93