Earnings Per Share

3 Months Ended

Apr. 29, 2017

Earnings Per Share

Earnings Per Share

4.  Earnings Per Share    

Basic earnings per common share allocated to common shareholders is computed by dividing net earnings by the weighted-average common shares outstanding during the period.  Diluted earnings per common share reflect the more dilutive earnings per common share amount calculated using the treasury stock method or the two-class method.  In the first quarter of 2017, the treasury stock method is used to calculate diluted earnings per common share while the two-class method was used in the first quarter of 2016.

Basic and diluted earnings per common share allocated to common shareholders are computed using the actual net earnings allocated to common shareholders and the actual weighted-average common shares outstanding rather than the rounded numbers presented within our condensed consolidated statement of earnings and the accompanying notes.  As a result, it may not be possible to recalculate earnings per common share allocated to common shareholders in our condensed consolidated statement of earnings and the accompanying notes. The following table sets forth the computation of basic and diluted earnings per common share allocated to common shareholders (in thousands, except per share amounts):

	For the Three Months Ended
	April 29,		April 30,
	2017		2016
Numerator
Net earnings	$	1,839	$	1,637
Net earnings allocated to participating securities (restricted stock and deferred stock units)		—		(2)
Net earnings allocated to common shareholders	$	1,839	$	1,635
Denominator
Basic weighted-average common shares outstanding		48,808		48,446
Dilutive effect of share-based awards		343		175
Diluted weighted-average common shares outstanding		49,151		48,621
Net earnings per common share allocated to common shareholders:
Basic	$	0.04	$	0.03
Diluted	$	0.04	$	0.03

For the three months ended April 29, 2017 and April 30, 2016,  1.6 million and 1.2 million anti-dilutive shares of common stock were excluded from the calculation of diluted earnings per common share, respectively.