ZUMZ » Topics » 5. Net Income Per Share, Basic and Diluted

This excerpt taken from the ZUMZ 10-K filed Mar 23, 2009.

13. Net Income per Share, Basic and Diluted

        Basic net income per share is based on the weighted average number of common shares outstanding during the period. Diluted net income per share is based on the weighted average number of common shares and common share equivalents outstanding during the period. Common share equivalents included in the computation represent shares issuable upon assumed exercise of outstanding stock options, employee stock option funds held to acquire stock and non-vested restricted stock. Potentially anti-dilutive securities not included in the calculation of diluted earnings per share includes options to purchase common stock where the option exercise price is greater than the average market price of the Company's common stock during the period reported. Total common stock options not included in the calculation of diluted earnings per share were 814,175, 130,000, and 40,000 for the years ended January 31, 2009, February 2, 2008, and February 3, 2007, respectively.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

13. Net Income per Share, Basic and Diluted (Continued)

        The following table sets forth the computation of basic and diluted net income per share (in thousands, except share and per share data):

 
  Fiscal Year ended  
 
  February 3,
2007
  February 2,
2008
  January 31,
2009
 

Net income

  $ 20,856   $ 25,326   $ 17,204  

Weighted average common shares for basic net income per share

    27,542,891     28,608,818     29,126,889  

Dilutive effect of stock options and restricted stock

    1,160,146     713,519     567,223  
               

Weighted average common shares for diluted net income per share

    28,703,037     29,322,337     29,694,112  
               

Basic net income per share

  $ 0.76   $ 0.89   $ 0.59  
               

Diluted net income per share

  $ 0.73   $ 0.86   $ 0.58  
               

        Options to purchase 814,175 shares of common stock with a weighted average value of $32.54 per share were outstanding at the end of fiscal 2008 but were not included in the computation of diluted earnings per share because the options' exercise price was greater than the $14.53 average market price for the Company's common shares.

This excerpt taken from the ZUMZ 10-K filed Mar 25, 2008.

12. Net Income Per Share, Basic and Diluted

        Basic net income per share is based on the weighted average number of common shares outstanding during the period. Diluted net income per share is based on the weighted average number of common shares and common share equivalents outstanding during the period. Common share equivalents included in the computation represent shares issuable upon assumed exercise of outstanding stock options and non-vested restricted stock. Potentially anti-dilutive securities not included in the calculation of diluted earnings per share include options to purchase common stock where the option exercise price is greater than the average market price of the Company's common stock during the period reported. Total common stock options not included in the calculation of diluted earnings per share were 130,000, 40,000, and 0 for the years ended February 2, 2008, February 3, 2007, and January 26, 2006, respectively.

        The following table sets forth the computation of basic and diluted net income per share (in thousands, except share and per share data):

 
  Fiscal Year ended
 
  January 28,
2006

  February 3,
2007

  February 2,
2008

Net income   $ 12,851   $ 20,856   $ 25,326
Weighted average common shares for basic net income per share     25,879,675     27,542,891     28,608,818
Dilutive effect of stock options and restricted stock     1,497,009     1,160,146     713,519
   
 
 
Weighted average common shares for diluted net income per share     27,376,684     28,703,037     29,322,337
   
 
 
Basic net income per share   $ 0.50   $ 0.76   $ 0.89
   
 
 
Diluted net income per share   $ 0.47   $ 0.73   $ 0.86
   
 
 

        Options to purchase 130,000 shares of common stock with a weighted average value of $38.58 per share were outstanding at the end of fiscal 2007 but were not included in the computation of diluted earnings per share because the options' exercise price was greater than the $36.62 average market price for the Company's common shares.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

This excerpt taken from the ZUMZ 10-Q filed Jun 13, 2006.

5. Net Income Per Share, Basic and Diluted

The Company calculates net income per share in accordance with SFAS No. 128, Earnings Per Share, as amended by SFAS No. 123(R). Basic net income per share is based on the weighted average number of common shares outstanding during the period. Diluted net income per share is based on the weighted average number of common shares and common share equivalents outstanding during the period. Common share equivalents included in the computation represent shares issuable upon assumed exercise of outstanding stock options. Basic and diluted net loss per share is the same for the three months ended April 30, 2005 because all potentially dilutive securities outstanding are anti-dilutive. Potentially dilutive securities not included in the calculation of diluted earnings per share include options to purchase common stock. Total common stock options not included in the calculation of diluted earnings per share were 3,710,791 for the three months ended April 30, 2005.

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except share and per share data):

 

 

Three Months Ended

 

 

 

April 29, 2006

 

April 30, 2005

 

Net income

 

$

1,109

 

$

(40

)

Weighted average common shares for basic net income per share

 

27,272,799

 

22,610,522

 

Dilutive effect of stock options

 

1,359,143

 

 

Weighted average common shares for diluted net income per share

 

28,631,942

 

22,610,522

 

Basic net income per share

 

$

0.04

 

$

0.00

 

Diluted net income per share

 

$

0.04

 

$

0.00

 

 

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