Earnings Per Share

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share for fiscal years 2019, 2018 and 2017 (dollars in thousands, except per share amounts):



	Fiscal Year
	2019		2018		2017
Net income	$	68,622	$	61,502	$	37,955
Weighted average shares outstanding:
Basic	9,080,878		9,024,437		8,976,064
Effect of dilutive securities	187,859		177,269		129,679
Diluted	9,268,737		9,201,706		9,105,743
Net income per share:
Basic	$	7.56	$	6.82	$	4.23
Diluted	$	7.40	$	6.68	$	4.17

There were 13,862 anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the year ended March 30, 2019, 4,116 for the year ended March 31, 2018 and 9,766 for the year ended April 1, 2017.