NET INCOME PER SHARE

12 Months Ended

Mar. 31, 2012

NET INCOME PER SHARE [Abstract]

NET INCOME PER SHARE

12. NET INCOME PER SHARE

Basic net income per share is calculated in accordance with the authoritative guidance for earnings per share, which requires dual presentation of basic and diluted net income per share on the face of the income statement. Basic net income per share is computed as net income divided by the weighted average number of common shares outstanding for the period. Diluted net income per share is computed using the weighted-average number of shares of common stock outstanding plus the effect of all dilutive stock option grants and ESPP shares representing potential shares of common stock outstanding during the period.

The following is a reconciliation of the numerator (net income) and the denominator (number of shares) used in the basic and diluted net income per share calculations.

	Fiscal Years Ended
(in thousands, except per share value)	March 31, 2012		April 2, 2011		April 3, 2010
Net income	$	4,749	$	12,282	$	5,125
BASIC:
Weighted average shares outstanding		12,340		12,976		12,912
Net income per share	$	0.38	$	0.95	$	0.40
DILUTED:
Weighted average shares outstanding		12,340		12,976		12,912
Effect of dilutive securities: stock options and ESPP		11		54		83
Weighted average shares outstanding		12,351		13,030		12,995
Net income per share	$	0.38	$	0.94	$	0.39

Options to purchase 1,551,348 shares of the Company's common stock at an average price of $27.14 per share, 1,303,654 shares at an average price of $28.72 per share, and 1,175,094 shares at an average price of $29.40 per share in fiscal 2012, 2011, and 2010, respectively, were outstanding but were not included in the computation of diluted earnings per share because their effect would have been anti-dilutive.