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Earnings (Loss) Per Share
 6 Months Ended
Jul. 28, 2012
Earnings (Loss) Per Share  
Earnings (Loss) Per Share

NOTE 4: EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share (“EPS”) is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period. For the three and six months ended July 28, 2012 and July 30, 2011, the computations of diluted EPS assume that our convertible notes would be settled in shares of common stock. Diluted EPS is computed by adjusting: (i) the income available to common shareholders for the amount of interest expense recognized related to the convertible notes, and (ii) the weighted-average number of common shares outstanding to assume conversion of our convertible notes and the issuance of all other potential common shares, if the effect is dilutive. The following table sets forth the computations of basic and diluted EPS for the three and six months ended July 28, 2012 and July 30, 2011:

   Three Months Ended
   July 28, 2012 July 30, 2011
        Per      Per
   Net   Share Net   Share
   Loss Shares Amount Loss Shares Amount
Basic EPS$ (12,297)  151,231 $ (0.08) $ (8,369)  156,733 $ (0.05)
 Effect of dilutive potential common shares  ―  ―   ―   ―  ―   ―
Diluted EPS$ (12,297)  151,231 $ (0.08) $ (8,369)  156,733 $ (0.05)
                  
   Six Months Ended
   July 28, 2012 July 30, 2011
        Per      Per
   Net   Share Net   Share
   Income Shares Amount Income Shares Amount
Basic EPS$ 19,848  152,955 $ 0.13 $ 20,040  156,568 $ 0.13
 Effect of dilutive potential common shares  ―  2,981   ―   ―  4,114   (0.01)
Diluted EPS$ 19,848  155,936 $ 0.13 $ 20,040  160,682 $ 0.12

The following table presents potentially dilutive securities excluded from the computations of diluted EPS.

 

  Three Months Ended Six Months Ended 
  July 28, July 30, July 28, July 30, 
  2012 2011 2012 2011 
Stock options (1) 1,591(3) 1,694(3) 1,258(4) 1,309(4)
Restricted stock and performance share awards (1) 5,183(3) 6,717(3) —  — 
Written call options (1)(2)n/a  1,281(3)n/a  1,281(4)
Contingently convertible securities:        
 7.5% Convertible Notes 21,670(3) 21,670(3) 21,670(5) 21,670(5)
 2.0% Convertible Notes 19,219(3) 19,219(3) 19,219(5) 19,219(5)

 

  • The amounts represent the number of instruments outstanding at the end of the period. Application of the treasury stock method would reduce this amount if they had a dilutive effect and were included in the computation of diluted EPS.
  • The written call options had various maturity dates through August 2011. As of July 28, 2012, there were no written call options outstanding.
  • Potentially dilutive securities excluded from the computation of diluted EPS because the effect would have been anti-dilutive since we recorded a net loss for the period.
  • Potentially dilutive securities excluded from the computation of diluted EPS because the exercise price of the options exceeded the average market price of our common stock during the period.
  • Potentially dilutive securities excluded from the computation of diluted EPS because the effect would have been anti-dilutive.