Earnings Per Common Share

6 Months Ended

Mar. 30, 2013

Earnings Per Common Share [Abstract]

Earnings Per Common Share

5. Earnings Per Common Share

Basic earnings per share are computed by dividing net earnings by the daily weighted average number of common shares outstanding during the applicable periods. Diluted earnings per share include the potentially dilutive effect of common shares issued in connection with outstanding stock-based compensation awards, using the treasury stock method. Under the treasury stock method, shares associated with certain stock options have been excluded from the diluted weighted average shares outstanding calculation because the exercise of those options would lead to a net reduction in common shares outstanding. As a result, stock options to acquire less than 0.1 million weighted common shares have been excluded from diluted weighted shares outstanding for both the three-fiscal month periods ended March 30, 2013 and March 31, 2012, respectively. Stock options to acquire less than 0.1 million and 0.4 million weighted average common shares have been excluded from diluted weighted average shares outstanding for the six-month fiscal periods ended March 30, 2013 and March 31, 2012, respectively. The potentially dilutive effect of common shares issued in connection with outstanding stock options is determined based on net income. A reconciliation of these amounts is as follows:

	Three Fiscal Months Ended				Six Fiscal Months Ended
		March 30,		March 31,		March 30,		March 31,
		2013		2012		2013		2012
	(expressed in thousands, except per share data)
Net income	$	11,061	$	11,157	$	24,844	$	26,696
Weighted average common shares outstanding		15,723		15,906		15,696		15,793
Dilutive potential common shares		205		200		191		176
Total diluted weighted shares outstanding		15,928		16,106		15,887		15,969
Earnings per share:
Basic	$	0.70	$	0.70	$	1.58	$	1.69
Diluted	$	0.69	$	0.69	$	1.56	$	1.67