(5) Net Income Per Common Share

Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of shares and, if dilutive, common equivalent shares, determined using the treasury stock method for stock options, restricted stock awards and restricted stock units outstanding during the period. A reconciliation of the shares used in calculating basic and diluted net income per share is as follows:

 

     Three Months Ended      Six Months Ended  
     July 29,
2017
     July 30,
2016
     July 29,
2017
     July 30,
2016
 

Weighted Average Common Shares Outstanding— Basic

     6,726,623        7,418,312        7,097,183        7,388,123  

Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units

     111,213        168,300        121,238        172,022  
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted Average Common Shares Outstanding—Diluted

     6,837,836        7,586,612        7,218,421        7,560,145  
  

 

 

    

 

 

    

 

 

    

 

 

 

For the three and six months ended July 29, 2017, the diluted per share amounts do not reflect common equivalent shares outstanding of 591,359 and 591,309, respectively. For the three and six months ended July 30, 2016 the diluted per share amounts do not reflect common equivalent shares outstanding of 413,121 and 468,121, respectively. These outstanding common equivalent shares were not included due to their anti-dilutive effect. Anti-dilutive shares consist of those common stock equivalents that have either an exercise price above the average stock price for the period, or the common stock equivalent’s related average unrecognized stock compensation expense is sufficient to “buy back” the entire amount of shares. Restricted stock units which vest based upon achievement of performance targets are excluded from the diluted shares outstanding unless the performance targets have been met as of the end of the reporting period, regardless of whether such performance targets are probable of achievement as of the end of the measurement period.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Astro-Med director just picked up 1,321 shares - Nov. 1, 2017
Astro-Med director just picked up 1,402 shares - Nov. 1, 2017
Astro-Med director just picked up 1,321 shares - Nov. 1, 2017
Astro-Med director just picked up 1,321 shares - Nov. 1, 2017
Astro-Med director just picked up 1,402 shares - Nov. 1, 2017

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