Earnings per Share

6 Months Ended

Aug. 03, 2019

7. Earnings per Share

The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:

	For the three months ended				For the six months ended
	August 3, 2019		August 4, 2018		August 3, 2019		August 4, 2018
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		49,867		49,060		49,734		48,926
Common stock equivalents – stock options and restricted stock ⁽¹⁾		308		—		—		—
Diluted weighted average common shares outstanding		50,175		49,060		49,734		48,926

(1)

Common stock equivalents of 489 shares for the three months ended August 4, 2018 and 415 and 458 shares for the six months ended August 3, 2019 and August 4, 2018, respectively, were excluded due to the net loss.

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each period because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or because of the unearned compensation associated with either stock options, restricted stock units, restricted or deferred stock had an anti-dilutive effect.

	For the three months ended				For the six months ended
	August 3, 2019		August 4, 2018		August 3, 2019		August 4, 2018
(in thousands, except exercise prices)
Stock options		865		1,147		850		1,147
Restricted stock units		1,056		80		1,040		80
Restricted and deferred stock		85		30		63		36
Range of exercise prices of such options	$1.85 - $7.02		$1.85 - $7.02		$2.00- $7.02		$1.85 - $7.02

The above options, which were outstanding at August 3, 2019, expire from March 19, 2020 to June 29, 2028.

Shares of unvested restricted stock of 30,000 shares at August 4, 2018 were excluded from the computation of basic earnings per share. There were no unvested shares of restricted stock outstanding at August 3, 2019.

The 720,000 PSUs are excluded from basic and diluted earnings per share until the market condition is achieved.