Net Income Per Share

3 Months Ended

Apr. 03, 2012

Net Income Per Share

Net Income Per Share

6.  Net Income Per Share

At April 3, 2012 and March 29, 2011, 1.0 million and 0.7 million shares, respectively, of restricted stock issued to employees were unvested, and therefore excluded from the calculation of basic earnings per share for the fiscal quarters ended on those dates. Diluted net income per share includes the dilutive effect of outstanding equity awards, calculated using the treasury stock method.  Assumed proceeds from in-the-money options include windfall tax benefits, net of shortfalls, calculated under the “as-if” method as prescribed by FASB Accounting Standards Codification 718, “Compensation — Stock Option Compensation.” 

	Thirteen Weeks Ended April 3, 2012		Thirteen Weeks Ended March 29, 2011
	(In thousands, except per share data)
Net income	$	20,722	$	20,456
Basic weighted average shares outstanding	53,680		58,480
Dilutive effect of equity awards	2,019		2,019
Diluted weighted average shares outstanding	55,699		60,499
Basic net income per share	$	0.39	$	0.35
Diluted net income per share	$	0.37	$	0.34

Shares of common stock equivalents of 2.8 million and 2.5 million for the thirteen weeks ended April 3, 2012 and March 29, 2011, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.