Net Loss Per Common Share

3 Months Ended

Apr. 29, 2017

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

Net Loss Per Common Share

Basic net loss per share is computed by dividing reported loss by the weighted average number of shares of common stock outstanding for the reported period. Diluted net 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 loss per share calculations and the number of shares used in the calculation of basic loss per share and diluted loss per share is as follows:        

	Three-Month Periods Ended
	April 29, 2017			April 30, 2016
Net loss (a)	$	(3,196,000	)	$	(4,942,000	)
Weighted average number of shares of common stock outstanding — Basic	60,918,508			57,181,155
Dilutive effect of stock options, non-vested shares and warrants (b)	—			—
Weighted average number of shares of common stock outstanding — Diluted	60,918,508			57,181,155
Net loss per common share	$	(0.05	)	$	(0.09	)
Net loss per common share — assuming dilution	$	(0.05	)	$	(0.09	)

(a) The net loss for the three-month period ended April 29, 2017 includes costs related to executive and management transition of $506,000 and loss on debt extinguishment of $913,000. The net loss for the three-month period ended April 30, 2016 includes costs related to executive and management transition of $3,601,000 and distribution facility consolidation and technology upgrade costs totaling $80,000.

(b) For the three-month periods ended April 29, 2017 and April 30, 2016, there were -0- incremental in-the-money potentially dilutive common shares outstanding. Incremental in-the-money potentially dilutive common shares are excluded from the computation of diluted earnings per share, as the effect of their inclusion would be antidilutive.