NET INCOME PER SHARE

12 Months Ended

Apr. 28, 2013

NET INCOME PER SHARE

14. NET INCOME PER SHARE

Basic net income per share is computed using the weighted-average number of shares outstanding during the period.  Diluted net 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 income per share are as follows:

(in thousands)	2013		2012		2011
weighted-average common
shares outstanding, basic		12,235		12,711		12,959
dilutive effect of stock-based compensation		215		155		259
weighted-average common
shares outstanding, diluted		12,450		12,866		13,218

All options to purchase shares of common stock were included in the computation of diluted net income for fiscal 2013 and 2011, as the exercise price of the options was less than the average market price of common shares.

Options to purchase 24,750 shares of common stock were not included in the computation of diluted net loss per share for fiscal 2012 as the exercise price of the options were greater than the average market price of the common shares.

The computation of basic net income did not include 123,335, 185,000, and 195,000 shares of time vested restricted common stock as these shares were unvested for fiscal 2013, 2012, and 2011, respectively.