EARNINGS PER COMMON SHARE

6 Months Ended

Jul. 02, 2016

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

18.EARNINGS PER COMMON SHARE

Basic earnings per share is calculated based on the weighted average number of outstanding shares of common stock for the period, plus the effect of vested shares.  Diluted earnings per share is calculated consistent with the basic earnings per share calculation plus the effect of dilutive unissued common shares related to stock-based employee compensation programs.  All future awards are dilutive and have therefore been included in the computation of diluted EPS for all periods presented. The table below details the computation of our basic and diluted EPS:

	Fiscal Quarter Ended				Fiscal Year to Date Ended
	July 2,		July 4,		July 2,		July 4,
	2016		2015		2016		2015
Net income	$	64,134	$	2,258	$	80,698	$	12,787
Average shares outstanding - Basic	65,836,860		65,269,159		65,931,070		65,207,105
Potential effect of unvested restricted stock	1,000,950		1,348,750		989,750		1,319,934
Average shares outstanding - Diluted	66,837,810		66,617,909		66,920,820		66,527,039
Net income per common share—Basic	$	0.97	$	0.03	$	1.22	$	0.20
Net income per common share—Diluted	$	0.96	$	0.03	$	1.21	$	0.19