Net Income Per Share

6 Months Ended

Jun. 30, 2012

Net Income Per Share [Abstract]

NET INCOME PER SHARE

NOTE 10 NET INCOME PER SHARE

The following table sets forth the computation of basic and diluted net income per share:

	Three Months Ended				Six Months Ended
(In thousands, except per share data)	June 30, 2012		July 2, 2011		June 30, 2012		July 2, 2011
Net income attributable to Newport Corporation	$	9,154	$	13,922	$	15,746	$	34,681
Shares:
Weighted average shares outstanding – basic		38,220		37,477		37,975		37,241
Dilutive potential common shares, using treasury stock method		678		1,311		940		1,571
Weighted average shares outstanding – diluted		38,898		38,788		38,915		38,812
Net income per share attributable to Newport Corporation:
Basic	$	0.24	$	0.37	$	0.41	$	0.93
Diluted	$	0.24	$	0.36	$	0.40	$	0.89

For the three and six months ended June 30, 2012, a total of 0.9 million stock options and stock appreciation rights, and for the three and six months ended July 2, 2011, 0.1 million stock options, were excluded from the computations of diluted net income per share, as their exercise prices (or base values) exceeded the average market price of the Company’s common stock during such periods, and their inclusion would have been antidilutive. For the three and six months ended June 30, 2012, 0.2 million restricted stock units were excluded from the computations of diluted net income per share, as the amount of unrecognized future compensation expense associated with these restricted stock units would have resulted in assumed proceeds in excess of the amount required to repurchase the underlying shares under the treasury stock method, and, therefore, their inclusion would have been antidilutive. For the three and six months ended June 30, 2012, an additional 0.4 million performance-based restricted stock units, and for the three and six months ended July 2, 2011, 0.3 million performance-based restricted stock units, were excluded from the computations of diluted net income per share, as the performance criteria for their vesting had not been met as of the end of such period.