Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
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.