Note 7 - Diluted Net Income Per Share

9 Months Ended

Feb. 23, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. Diluted Net Income Per Share

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

	Three Months Ended February 23, 2014		Three Months Ended February 24, 2013		Nine Months Ended February 23, 2014		Nine Months Ended February 24, 2013
Numerator:
Net income and comprehensive income applicable to common stockholders	$	6,400	$	4,789	$	14,603	$	18,068
Denominator:
Weighted average shares for basic net income per share		26,697		25,839		26,574		25,752
Effect of dilutive securities:
Stock options and restricted stock units		427		828		519		740
Weighted average shares for diluted net income per share		27,124		26,667		27,093		26,492
Diluted net income per share	$	0.24	$	0.18	$	0.54	$	0.68

For the three months ended February 23, 2014 and February 24, 2013, the computation of the diluted net income per share excludes the impact of options to purchase 342,500 shares and 95,527 shares of Common Stock, respectively, as such impacts would be antidilutive for these periods.

For the nine months ended February 23, 2014 and February 24, 2013, the computation of the diluted net income per share excludes the impact of options to purchase 332,037 shares and 88,128 shares of Common Stock, respectively, as such impacts would be antidilutive for these periods.