Net Income Per Share

6 Months Ended

Jul. 03, 2012

Net Income Per Share

Net Income Per Share

6.  Net Income Per Share

At July 3, 2012 and June 28, 2011, 1.1 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 (“ASC”) 718, “Compensation — Stock Option Compensation.”

	Thirteen Weeks Ended July 3, 2012		Thirteen Weeks Ended June 28, 2011		Twenty-Six Weeks Ended July 3, 2012		Twenty-Six Weeks Ended June 28, 2011
	(In thousands, except per share data)
Net income	$	28,399	$	24,748	$	49,121	$	45,204
Basic weighted average shares outstanding	53,155		56,554		53,417		57,517
Dilutive effect of equity awards	1,936		2,041		1,959		2,026
Diluted weighted average shares outstanding	55,091		58,595		55,376		59,543
Basic net income per share	$	0.53	$	0.44	$	0.92	$	0.79
Diluted net income per share	$	0.52	$	0.42	$	0.89	$	0.76

Shares of common stock equivalents of 2.7 million and 2.9 million for the thirteen and twenty-six weeks ended July 3, 2012 and 2.4 million and 2.6 million for the thirteen and twenty-six weeks ended June 28, 2011, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.