Income Per Share

3 Months Ended

May 31, 2014

Income Per Share

Income Per Share

3. Income Per Share

        Basic income per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock 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 that then shared in the income of the Company subject to anti-dilution limitations.

	Thirteen Week Period Ended
	May 31, 2014		June 1, 2013
Numerator for income per share:
Net income	$	41,446	$	89,662
Accretion of redeemable preferred stock		—		(25	)
Cumulative preferred stock dividends		—		(2,732	)
Income attributable to common stockholders—basic	$	41,446	$	86,905
Add back—interest on convertible notes		—		1,364
Add back—cumulative preferred stock dividends		—		2,732
Income attributable to common stockholders—diluted	$	41,446	$	91,001
Denominator:
Basic weighted average shares		963,332		893,871
Outstanding options and restricted shares, net		33,222		38,812
Convertible notes		—		24,800
Convertible preferred stock		—		33,605
Diluted weighted average shares		996,554		991,088
Basic income per share	$	0.04	$	0.10
Diluted income per share	$	0.04	$	0.09

        Due to their antidilutive effect, the following potential common shares have been excluded from the computation of diluted income per share as of May 31, 2014 and June 1, 2013:

	Thirteen Week Period Ended
	May 31, 2014		June 1, 2013
Stock options		—		49,324
Convertible notes		24,800		—
		24,800		49,324