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Net (Loss) Income Per Share
6 Months Ended
Oct. 30, 2022
Earnings Per Share [Abstract]  
Net (Loss) Income Per Share

11. Net (Loss) Income Per Share

Basic net (loss) income per share is computed using the weighted-average number of shares outstanding during the period. Diluted net (loss) income per share uses the weighted-average number of shares outstanding during the period plus the dilutive effect of stock-based compensation calculated using the treasury stock method.

Weighted average shares used in the computation of basic and diluted net (loss) income per share are as follows:

 

 

 

Three months ended

 

(amounts in thousands)

 

October 30, 2022

 

 

October 31, 2021

 

Weighted average common shares outstanding, basic

 

 

12,280

 

 

 

12,223

 

Dilutive effect of stock-based compensation

 

 

 

 

 

93

 

Weighted average common shares outstanding, diluted

 

 

12,280

 

 

 

12,316

 

 

During the second quarter of fiscal 2023, 42,127 shares of unvested common stock were not included in the computation of diluted net loss per share as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards. In addition, during the second quarter of fiscal 2023, 35,077 shares of unvested common stock were not included in the computation of diluted net loss per share as we incurred a net loss during the reporting period.

 

During the second quarter of fiscal 2022, 13,484 shares of unvested common stock were not included in the computation of diluted net income per share as their effect would be antidilutive due to the decrease in the price per share of our common stock during

the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards.

 

 

 

Six months ended

 

(amounts in thousands)

 

October 30, 2022

 

 

October 31, 2021

 

Weighted average common shares outstanding, basic

 

 

12,259

 

 

 

12,268

 

Dilutive effect of stock-based compensation

 

 

 

 

 

101

 

Weighted average common shares outstanding, diluted

 

 

12,259

 

 

 

12,369

 

 

During the first half of fiscal 2023, 37,852 shares of unvested common stock were not included in the computation of diluted net loss per share as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards. In addition, during the first half of fiscal 2023, 47,249 shares of unvested common stock were not included in the computation of diluted net loss per share as we incurred a net loss during the reporting period.

 

During the first half of fiscal 2022, 1,561 shares of unvested common stock were not included in the computation of diluted net income per share as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards.