Income (Loss) Per Share

6 Months Ended

Jul. 28, 2012

Earnings Per Share [Text Block]

Note 9. Income (Loss) Per Share

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average common shares outstanding for the period. Diluted income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock (net of any assumed repurchases) that then shared in the earnings of the Company, if any. It is computed by dividing net income by the sum of the weighted average shares outstanding and additional common shares that would have been outstanding if the dilutive potential common shares had been issued for the Company’s common stock awards from the Company’s Stock Award Plans.

Weighted average shares are calculated as follows:

	Thirteen weeks ended				Twenty-six weeks ended
	July 28, 2012		July 30, 2011		July 28, 2012		July 30, 2011
	(in thousands)				(in thousands)
Weighted average common shares outstanding – basic		31,537		31,455		31,537		31,440
Dilutive effect of employee stock options		—		—		634		—
Weighted average common shares outstanding–diluted		31,537		31,455		32,171		31,440

For the thirteen week period ended July 28, 2012 and the thirteen and twenty-six weeks ended July 30, 2011, the impact of all outstanding stock awards was not considered because the Company reported a net loss and such impact would be anti-dilutive. Accordingly, basic and diluted loss per share is the same. For the twenty-six week period ended July 28, 2012, the impact of 4.4 million outstanding stock awards was not considered because such impact would be anti-dilutive.