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EARNINGS PER SHARE
 3 Months Ended
May 04, 2013
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 7—EARNINGS PER SHARE

 

The following table presents the calculation of basic and diluted earnings per share for earnings from continuing operations and net earnings:

 

 

 

Thirteen Weeks Ended

 

(dollar amounts in thousands, except per share amounts)

 

May 4, 2013

 

April 28, 2012

 

(a)

Earnings from continuing operations

 

$

3,928

 

$

1,134

 

 

 

 

 

 

 

 

 

Loss from discontinued operations, net of tax

 

(65

)

(72

)

 

 

 

 

 

 

 

 

Net earnings

 

$

3,863

 

$

1,062

 

 

 

 

 

 

 

 

(b)

Basic average number of common shares outstanding during period

 

53,388

 

53,071

 

 

 

 

 

 

 

 

 

Common shares assumed issued upon exercise of dilutive stock options, net of assumed repurchase, at the average market price

 

603

 

878

 

 

 

 

 

 

 

 

(c)

Diluted average number of common shares assumed outstanding during period

 

53,991

 

53,949

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

Earnings from continuing operations (a/b)

 

$

0.07

 

$

0.02

 

 

Discontinued operations, net of tax

 

—

 

—

 

 

Basic earnings per share

 

$

0.07

 

$

0.02

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

Earnings from continuing operations (a/c)

 

$

0.07

 

$

0.02

 

 

Discontinued operations, net of tax

 

—

 

—

 

 

Diluted earnings per share

 

$

0.07

 

$

0.02

 

 

As of May 4, 2013 and April 28, 2012, respectively, there were 2,946,000 and 2,654,000 outstanding options and restricted stock units. Certain stock options were excluded from the calculation of diluted earnings per share because their exercise prices were greater than the average market price of the common shares for the periods then ended and therefore would be anti-dilutive. The total number of such shares excluded from the diluted earnings per share calculation is 1,236,000 and 299,000 for the thirteen weeks ended May 4, 2013 and April 28, 2012, respectively.