Net Income Per Common Share

6 Months Ended

Jun. 27, 2014

Net Income Per Common Share [Abstract]

Net (Loss) Income Per Common Share

2. Net Income per Common Share

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. With regard to common stock subject to vesting requirements and restricted stock units issued to the Company’s employees and non-employee members of its Board of Directors, the calculation includes only the vested portion of such stock and units.

Dilutive net income per common share is computed by dividing net income by the weighted average number of common shares outstanding, increased by the assumed conversion of other potentially dilutive securities during the period.

The following table reconciles basic and dilutive weighted average common shares:

	Quarter Ended		Six Months Ended
	June 27,	June 28,	June 27,	June 28,
	2014	2013	2014	2013
Basic weighted average common shares outstanding	28,939,096	30,532,021	29,029,300	30,411,897
Effect of dilutive securities:
Unvested restricted stock units and common stock subject to
vesting requirements issued to employees and non-employees	1,035,202	1,707,857	887,477	1,435,012
Common stock issuable upon the exercise of stock options	9,496	11,175	9,471	15,104
Dilutive weighted average common shares outstanding	29,983,794	32,251,053	29,926,248	31,862,013

Approximately 0.4 million and 0.9 million shares of common stock equivalents were excluded from the computations of diluted net income per common share for the quarters ended June 27, 2014 and June 28, 2013, respectively, as their inclusion would have had an anti-dilutive effect on diluted net income per common share.