Earnings Per Common Share

9 Months Ended

Jun. 28, 2014

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 0.3 million and less than 0.1 million weighted common shares have been excluded from diluted weighted shares outstanding for the three fiscal months ended June 28, 2014 and June 29, 2013, respectively. Stock options to acquire 0.3 million and less than 0.1 million weighted common shares have been excluded from diluted weighted shares outstanding forthe nine fiscal months ended June 28, 2014 and June 29, 2013, 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 28,		June 29,		June 28,		June 29,
		2014		2013		2014		2013
	(expressed in thousands, except per share data)
Net income	$	14,144	$	11,547	$	31,068	$	36,391
Weighted average common shares outstanding		15,117		15,733		15,238		15,708
Dilutive potential common shares		177		212		184		198
Total diluted weighted shares outstanding		15,294		15,945		15,422		15,906
Earnings per share:
Basic	$	0.94	$	0.73	$	2.04	$	2.32
Diluted	$	0.92	$	0.72	$	2.01	$	2.29