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Earnings Per Share
 6 Months Ended
Dec. 28, 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.
The computations of our basic and diluted earnings per share are set forth below: 
 
Three Months Ended
 
Six Months Ended
 
December 28,
2013
 
December 29,
2012
 
December 28,
2013
 
December 29,
2012
Net income from continuing operations
$
16,343

 
$
12,867

 
$
29,953

 
$
24,372

Less: Income allocable to participating securities
(237
)
 
(205
)
 
(418
)
 
(380
)
Net income from continuing operations available to common stockholders
$
16,106

 
$
12,662

 
$
29,535

 
$
23,992

Net income (loss) from discontinued operations
(8,423
)
 
354

 
(8,212
)
 
743

Net income available to common stockholders
$
7,683

 
$
13,016

 
$
21,323

 
$
24,735

Basic earnings per share (shares in thousands):
 
 
 
 
 
 
 
Weighted average shares outstanding, basic
19,547

 
18,841

 
19,488

 
18,761

Basic earnings per common share:
 
 
 
 
 
 
 
From continuing operations
$
0.82

 
$
0.67

 
$
1.52

 
$
1.28

From discontinued operations
$
(0.43
)
 
$
0.02

 
$
(0.42
)
 
$
0.04

Basic earnings per share
$
0.39

 
$
0.69

 
$
1.09

 
$
1.32

Diluted earnings per share (shares in thousands):
 
 
 
 
 
 
 
Weighted average shares outstanding, basic
19,547

 
18,841

 
19,488

 
18,761

Weighted average effect of non-vested restricted stock grants and assumed exercise of stock options
393

 
258

 
400

 
263

Weighted average shares outstanding, diluted
19,940

 
19,099

 
19,888

 
19,024

Diluted earnings per common share:
 
 
 
 
 
 
 
From continuing operations
$
0.81

 
$
0.66

 
$
1.49

 
$
1.26

From discontinued operations
$
(0.42
)
 
$
0.02

 
$
(0.41
)
 
$
0.04

Diluted earnings per share
$
0.39

 
$
0.68

 
$
1.07

 
$
1.30


We excluded potential common shares related to our outstanding equity compensation grants of 156,000 and 592,000 for the three months ended December 28, 2013 and December 29, 2012, respectively, and 111,000 and 541,000 for six months ended December 28, 2013 and December 29, 2012, respectively, from the computation of diluted earnings per share. Inclusion of these shares would have been anti-dilutive.