EARNINGS PER SHARE ("EPS")

9 Months Ended

Dec. 29, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (“EPS”)

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations. Basic EPS is computed by dividing net income by weighted average shares outstanding. Diluted EPS includes the effect of potentially dilutive common shares. The common stock weighted average number of shares has been retroactively adjusted for the stock split.

	Three Months Ended
	December 29, 2012		December 31, 2011
	(in thousands, except per share amounts)
Basic EPS
Net income	$	9,904	$	18,252
Weighted average shares	51,707		50,154
Basic income per share	$	0.19	$	0.36
Diluted EPS
Net income	$	9,904	$	18,252
Basic weighted average shares	51,707		50,154
Net effect of common stock equivalents	899		722
Diluted weighted average shares	52,606		50,876
Diluted income per share	$	0.19	$	0.36

	Nine Months Ended
	December 29, 2012		December 31, 2011
	(in thousands, except per share amounts)
Basic EPS
Net income	$	26,239	$	49,080
Weighted average shares	51,364		50,818
Basic income per share	$	0.51	$	0.97
Diluted EPS
Net income	$	26,239	$	49,080
Basic weighted average shares	51,364		50,818
Net effect of common stock equivalents	900		848
Diluted weighted average shares	52,264		51,666
Diluted income per share	$	0.50	$	0.95

Weighted average shares outstanding, assuming dilution, excludes the impact of 0.7 million and 0.4 million stock options for the three and nine months ended December 29, 2012, respectively, and 1.8 million and 1.2 million stock options for the three and nine months ended December 31, 2011, respectively, because these securities were anti-dilutive during the noted periods.