Earnings per Share

3 Months Ended

May 01, 2011

Earnings per Share

Earnings per Share

Note 3: Earnings per Share

The computation of basic and diluted earnings per common share was as follows:

	Three Months Ended
(in thousands, except per share amounts)	May 1, 2011		May 2, 2010
Net income	$	22,582	$	10,802
Weighted average common shares outstanding - basic		64,552		61,420
Dilutive effect of employee equity incentive plans		2,571		1,761
Weighted average common shares outstanding - diluted		67,123		63,181
Basic earnings per common share	$	0.35	$	0.18
Diluted earnings per common share	$	0.34	$	0.17

Basic earnings per common share is computed using the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of stock options and the vesting of restricted stock.

Options to purchase 136,250 shares and 5.2 million shares for the first quarter of fiscal years 2012 and 2011, respectively, were not included in the computation of diluted net income per share because the options were considered anti-dilutive.