Net Income (Loss) Per Common Share (Notes)

3 Months Ended

May 02, 2015

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

Net Income (Loss) Per Common Share

Basic net income (loss) per share is computed by dividing reported income (loss) by the weighted average number of shares of common stock outstanding for the reported 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 of the Company during reported periods.

A reconciliation of net income (loss) per share calculations and the number of shares used in the calculation of basic income (loss) per share and diluted income (loss) per share is as follows:

	Three-Month Periods Ended
	May 2, 2015			May 3, 2014
Net income (loss) (a)	$	(4,728,000	)	$	460,000
Weighted average number of shares of common stock outstanding — Basic	56,640,767			49,844,253
Dilutive effect of stock options, non-vested shares and warrants (b)	—			6,496,717
Weighted average number of shares of common stock outstanding — Diluted	56,640,767			56,340,970
Net income (loss) per common share	$	(0.08	)	$	0.01
Net income (loss) per common share — assuming dilution	$	(0.08	)	$	0.01

(a) The net loss for the three-month period ended May 2, 2015 includes costs related to executive and management transition of $2,590,000. The net income for the three-month period ended May 3, 2014 includes costs related to an activist shareholder response of $1,045,000.

(b) For the three-month period ended May 2, 2015, approximately 741,000 incremental in-the-money potentially dilutive common share options have been excluded from the computation of diluted earnings per share, as the effect of their inclusion would be antidilutive.