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. Stock-based awards of 17,226 shares and 15,710 shares were excluded from the calculation of diluted earnings per share as of July 1, 2017 and June 25, 2016, respectively, as their effect would have been anti-dilutive.

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


	Thirteen Weeks Ended				Twenty-six Weeks Ended
(in thousands, except per share data)	July 1, 2017		June 25, 2016		July 1, 2017		June 25, 2016
Numerator
Net income	$	28,437	$	25,982	$	57,624	$	50,653
Denominator:
Weighted average basic shares outstanding		34,128		34,546		34,256		34,615
Effect of stock-based compensation awards		97		80		94		54

Weighted average diluted shares outstanding		34,225		34,626		34,350		34,669

Earnings Per Share:
Basic	$	0.83	$	0.75	$	1.68	$	1.46
Diluted	$	0.83	$	0.75	$	1.68	$	1.46