Net Income Per Common Share

3 Months Ended

Apr. 29, 2023

Note 5 – Net Income Per Common Share

Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of shares and, if dilutive, common equivalent shares, determined using the treasury stock method for stock options, restricted stock awards and restricted stock units outstanding during the period. A reconciliation of the shares used in calculating basic and diluted net income per share is as follows:


	Three Months Ended
	April 29, 2023		April 30, 2022
Weighted Average Common Shares Outstanding – Basic		7,369,930		7,262,797
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units		80,122		97,713

Weighted Average Common Shares Outstanding – Diluted		7,450,052		7,360,510

For the three months ended April 29, 2023 and April 30, 2022, the diluted per share amounts do not reflect common equivalent shares outstanding of 656,554 and 310,588, respectively, because of their anti-dilutive effect.