Earnings Per Common Share

9 Months Ended

Jun. 29, 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 and 0.3 million weighted common shares have been excluded from diluted weighted shares outstanding for the three-fiscal month periods ended June 29, 2013 and June 30, 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 nine-month fiscal periods ended June 29, 2013 and June 30, 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				Nine Fiscal Months Ended
		June 29,		June 30,		June 29,		June 30,
		2013		2012		2013		2012
	(expressed in thousands, except per share data)
Net income	$	11,547	$	9,609	$	36,391	$	36,305
Weighted average common shares outstanding		15,733		16,048		15,708		15,878
Dilutive potential common shares		212		149		198		167
Total diluted weighted shares outstanding		15,945		16,197		15,906		16,045
Earnings per share:
Basic	$	0.73	$	0.60	$	2.32	$	2.29
Diluted	$	0.72	$	0.59	$	2.29	$	2.26