Earnings Per Share

3 Months Ended

Mar. 29, 2014

Earnings Per Share [Abstract]

Earnings Per Share

6. Earnings Per Share

Basic earnings per share is calculated by dividing our net income by the weighted average number of common shares outstanding during the period, excluding nonvested restricted stock which is considered to be contingently issuable. To calculate diluted earnings per share, common share equivalents are added to the weighted average number of common shares outstanding. Common share equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards. However, in periods when the price of our stock-based awards, by grant, is greater than our average stock price during the period, those common share equivalents are considered anti-dilutive and are excluded from the calculation of diluted earnings per share. No stock-based awards were considered anti-dilutive as of March 29, 2014 or March 30, 2013.

The following table sets forth the computation of basic earnings per share and diluted earnings per share:

	Thirteen Weeks Ended
(in thousands, except per share data)	March 29, 2014		March 30, 2013
Numerator
Net income	$	23,551	$	19,072
Denominator:
Weighted average basic shares outstanding		36,371		36,316
Effect of stock-based compensation awards		178		311
Weighted average diluted shares outstanding		36,549		36,627
Earnings Per Share:
Basic	$	0.65	$	0.53
Diluted	$	0.64	$	0.52