Earnings Per Share

12 Months Ended

Jun. 29, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Accounting Standards Codification (ASC) 260-10-45, Participating Securities and the Two-Class Method ("ASC 260-10-45"), addresses whether awards granted in unvested share-based payment transactions that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and therefore are included in computing earnings per share under the two-class method. Participating securities are securities that may participate in dividends with common stock and the two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common shareholders. Under the two-class method, earnings for the period are allocated between common shareholders and other shareholders, based on their respective rights to receive dividends. Certain restricted stock awards granted under our Equity Plans are considered participating securities as these awards receive non-forfeitable dividends at the same rate as common stock.

	For the Fiscal Years
	2013			2012		2011
Basic earnings per share:
Net income	$	46,720		$	24,147	$	33,160
Less: Income allocable to participating securities	(710		)	—		—
Net income available to common stockholders	$	46,010		$	24,147	$	33,160
Weighted average shares outstanding, basic	18,970			18,494		18,355
Basic earnings per common share	$	2.43		$	1.31	$	1.81
Diluted earnings per share:
Net income available to common stockholders	$	46,010		$	24,147	$	33,160
Weighted average shares outstanding, basic	18,970			18,494		18,355
Weighted average effect of non-vested restricted stock grants and assumed exercise of stock options	322			237		142
Weighted average shares outstanding, diluted	19,292			18,731		18,497
Diluted earnings per common share	$	2.38		$	1.29	$	1.79

We excluded potential common shares related to our outstanding equity compensation grants of 99; 498 and 1,189 from the computation of diluted earnings per share for fiscal years 2013, 2012 and 2011, respectively. Inclusion of these shares would have been anti-dilutive.