EARNINGS PER SHARE ("EPS")

3 Months Ended

Jul. 02, 2011

EARNINGS PER SHARE ("EPS")

3. 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.

	For the Three Months Ended
	July 2, 2011		July 3, 2010
	(in thousands, except per share amounts)
Basic EPS
Net income	$	16,947	$	17,918
Weighted average shares		25,731		25,140
Basic income per share	$	0.66	$	0.71
Diluted EPS
Net income	$	16,947	$	17,918
Basic weighted average shares		25,731		25,140
Net effect of common stock equivalents		485		563
Diluted weighted average shares		26,216		25,703
Diluted income per share	$	0.65	$	0.70

Weighted average shares outstanding, assuming dilution, excludes the impact of 0.5 million and 1.0 million stock options for the first quarter of fiscal year 2012 and 2011, respectively, because these securities were anti-dilutive during the noted periods.