Net Earnings per Common Share

3 Months Ended

Sep. 29, 2012

Net Earnings per Common Share

11. Net Earnings per Common Share

Basic net earnings per common share is based on the weighted-average number of common shares outstanding during each reporting period. Diluted net earnings per common share is based on the weighted-average number of common shares outstanding during each reporting period, plus, when their effect is dilutive, potential common shares consisting of common shares underlying certain unexercised stock options and unvested time-based and performance-based RSUs.

The following table presents a reconciliation of the denominator used for each period in computing basic and diluted earnings per common share, with common shares in the table represented in thousands:

	First Quarter
	Fiscal 2013		Fiscal 2012
Numerator:
Net earnings	$	6,134	$	6,890
Denominator:
Weighted-average common shares outstanding		11,282		11,137
Effect of potentially-dilutive securities: stock options and RSUs		172		168
Weighted-average common shares outstanding, assuming dilution		11,454		11,305
Basic net earnings per common share	$	0.54	$	0.62
Diluted net earnings per common share	$	0.54	$	0.61

The Company excluded stock options to purchase 12 thousand common shares from the calculation of diluted net earnings per common share for the first quarter of fiscal 2012 due to the anti-dilutive nature of these stock options measured using the average market prices of the underlying common shares.