Net Income per Share

3 Months Ended

Jul. 02, 2011

Net Income per Share [Abstract]

Net Income per Share

Note 8 - Net Income per Share

Basic earnings per share (“EPS”) is computed as net income divided by the weighted average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur from common shares that may be issued through stock options and ESPP only, since the Company does not have warrants or any other convertible securities outstanding.  A reconciliation of the numerator and denominator of basic and diluted earnings per share is provided as follows (in thousands, except per share amounts):

	Three Months Ended
	July 2, 2011		July 3, 2010
BASIC:
Net income	$	1,669	$	4,108
Weighted average shares outstanding for the period		12,755		12,957
Net income per share	$	0.13	$	0.32
DILUTED:
Net income	$	1,669	$	4,108
Weighted average shares outstanding for the period		12,755		12,957
Effect of dilutive securities: stock options and ESPP		22		80
Total		12,777		13,037
Net income per share	$	0.13	$	0.32

Options to purchase 1,351,271 shares of the Company’s common stock at an average price of $28.26 per share, and 868,567 shares at an average price of $32.50 per share for the three months ended July 2, 2011 and July 3, 2010, respectively, were outstanding but were not included in the computation of diluted earnings per share because their effect would have been anti-dilutive.