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Net Earnings (Loss) per Share (Tables)
12 Months Ended
Apr. 29, 2017
Reconciliation of Basic and Diluted Income (Loss) Per Share

The following is a reconciliation of the Company’s basic and diluted income (loss) per share calculation:

 

     Fiscal
2017
    Fiscal
2016
    Fiscal
2015
 

Numerator for basic income (loss) per share:

      

Net income from continuing operations

   $ 22,023       14,700       32,872  

Inducement fee paid upon conversion of Series J preferred stock

     —         (3,657     —    

Preferred stock dividends

     —         —         (15,767

Preferred stock dividends paid in shares

     —         (1,783     —    

Accretion of dividends on preferred stock

     —         (4,204     (7,339

Less allocation of dividends to participating securities

     (576     (1,219     —    

Less allocation of undistributed earnings to participating securities

     —         —         (535
  

 

 

   

 

 

   

 

 

 

Net income from continuing operations available to common shareholders

     21,447       3,837       9,231  

Net income (loss) from discontinued operations available to common shareholders

     —         (39,146     3,724  

Less allocation of undistributed earnings to participating securities

     —         —         (204
  

 

 

   

 

 

   

 

 

 

Net income (loss) from discontinued operations available to common shareholders

     —         (39,146     3,520  
  

 

 

   

 

 

   

 

 

 

Net income (loss) available to common shareholders

   $ 21,447       (35,309     12,751  
  

 

 

   

 

 

   

 

 

 

 

     Fiscal
2017
     Fiscal
2016
    Fiscal
2015
 

Numerator for diluted income (loss) per share:

       

Net income from continuing operations available to common shareholders

   $ 21,447        3,837       9,231  

Preferred stock dividends (a)

     —          —         —    

Accretion of dividends on preferred stock (a)

     —          —         —    

Allocation of undistributed earnings to participating securities

     —          —         535  

Less diluted allocation of undistributed earnings to participating securities

     —          —         (534
  

 

 

    

 

 

   

 

 

 

Net income from continuing operations available to common shareholders

     21,447        3,837       9,232  

Net income (loss) from discontinued operations available to common shareholders

     —          (39,146     3,520  

Allocation of undistributed earnings to participating securities

     —          —         204  

Less diluted allocation of undistributed earnings to participating securities

     —          —         (204
  

 

 

    

 

 

   

 

 

 

Net income (loss) from discontinued operations available to common shareholders

     —          (39,146     3,520  
  

 

 

    

 

 

   

 

 

 

Net income (loss) available to common shareholders

   $ 21,447        (35,309     12,752  
  

 

 

    

 

 

   

 

 

 

Denominator for basic income (loss) per share:

       

Basic weighted average common shares

     72,188        72,410       60,842  

Denominator for diluted income (loss) per share:

       

Basic weighted average shares

     72,188        72,410       60,842  

Preferred shares (a)

     —          —         —    

Average dilutive options

     63        118       86  

Average dilutive non-participating securities

     77        14       —    
  

 

 

    

 

 

   

 

 

 

Diluted weighted average common shares

     72,328        72,542       60,928  
  

 

 

    

 

 

   

 

 

 

Basic income (loss) per common share:

       

Income from continuing operations

   $ 0.30        0.05       0.15  

Income (loss) from discontinued operations

     —          (0.54     0.06  
  

 

 

    

 

 

   

 

 

 

Basic income (loss) per common share

     0.30        (0.49     0.21  
  

 

 

    

 

 

   

 

 

 

Diluted income (loss) per common share:

       

Income from continuing operations

   $ 0.30        0.05       0.15  

Income (loss) from discontinued operations

     —          (0.54     0.06  
  

 

 

    

 

 

   

 

 

 

Diluted income (loss) per common share

     0.30        (0.49     0.21  
  

 

 

    

 

 

   

 

 

 

 

(a) Although the Company was in a net income position during fiscal 2016 and fiscal 2015, the dilutive effect of the Company’s convertible preferred shares was excluded from the calculation of income per share using the two-class method because the effect would be antidilutive.