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Net Income Per Share
6 Months Ended
Jul. 03, 2016
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
Basic net income per share is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing the net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include outstanding stock options and unvested restricted stock awards, which are reflected in diluted net income per share by application of the treasury stock method. Under the treasury stock method, the amount that the employee must pay for exercising stock options, the amount of stock-based compensation cost for future services that the Company has not yet recognized, and the estimated tax benefit that would be recorded in additional paid-in capital upon exercise are assumed to be used to repurchase shares.
Net income per share for the three and six months ended July 3, 2016 and June 28, 2015 are as follows (in thousands, except per share data):
 
Three Months Ended
 
Six Months Ended
 
July 3,
2016
 
June 28,
2015
 
July 3,
2016
 
June 28,
2015
Numerator:
 
 
 
 
 
 
 
Net income
$
16,034

 
$
3,667

 
$
32,623

 
$
11,678

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares - basic
32,639

 
33,792

 
32,578

 
34,227

Potentially dilutive common share equivalent
854

 
516

 
812

 
563

Weighted average common shares - dilutive
33,493

 
34,308

 
33,390

 
34,790

 
 
 
 
 
 
 
 
Basic net income per share
$
0.49

 
$
0.11

 
$
1.00

 
$
0.34

Diluted net income per share
$
0.48

 
$
0.11

 
$
0.98

 
$
0.34

 
 
 
 
 
 
 
 
Anti-dilutive employee stock-based awards, excluded
431

 
2,631

 
$
310

 
$
2,440