Earnings Per Share

3 Months Ended

Mar. 28, 2015

Earnings Per Share [Abstract]

Earnings Per Share

5. 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. Approximately 19,000 shares from stock-based awards were considered anti-dilutive as of March 28, 2015. No stock-based awards were considered anti-dilutive as of March 29, 2014.

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 28, 2015		March 29, 2014
Numerator
Net income	$	21,339	$	23,551
Denominator:
Weighted average basic shares outstanding		35,542		36,371
Effect of stock-based compensation awards		101		178
Weighted average diluted shares outstanding		35,643		36,549
Earnings Per Share:
Basic	$	0.60	$	0.65
Diluted	$	0.60	$	0.64