Earnings Per Common Share

9 Months Ended

Jul. 02, 2011

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 options and 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 0.2 million and 1.2 million weighted common shares have been excluded from diluted weighted shares outstanding for the three-month fiscal periods ended July 2, 2011 and July 3, 2010, respectively. Stock options to acquire 0.3 million and 1.2 million weighted common shares have been excluded from diluted weighted shares outstanding for the nine-month fiscal periods ended July 2, 2011 and July 3, 2010, 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
	July 2,		July 3,		July 2,		July 3,
	2011		2010		2011		2010
	(expressed in thousands, except per share data)
Net income	$	10,953	$	5	$	36,050	$	10,016
Weighted average common shares outstanding		15,570		16,315		15,435		16,454
Dilutive potential common shares		219		63		283		55
Total diluted weighted shares outstanding		15,789		16,378		15,718		16,509

Earnings per share:
Basic	$	0.70	$	0.00	$	2.34	$	0.61
Diluted	$	0.69	$	0.00	$	2.29	$	0.61