Calculation of Earnings Per Share

9 Months Ended

Sep. 25, 2011

5. Calculation of Earnings Per Share

The calculations of basic earnings per common share and earnings per common share – assuming dilution are as follows (in thousands, except per-share data):

	Three Months Ended				Nine Months Ended
	Sept. 25,		Sept. 26,		Sept. 25,		Sept. 26,
	2011		2010		2011		2010

Basic earnings per common share:
Net income	$	11,123	$	7,848	$	39,674	$	37,915
Weighted average shares outstanding		24,964		25,951		25,302		26,586
Basic earnings per common share	$	0.45	$	0.30	$	1.57	$	1.43

Earnings per common share - assuming dilution:
Net income	$	11,123	$	7,848	$	39,674	$	37,915

Weighted average shares outstanding		24,964		25,951		25,302		26,586
Dilutive effect of outstanding compensation awards		182		130		226		157
Diluted weighted average shares outstanding		25,146		26,081		25,528		26,743
Earnings per common share - assuming dilution	$	0.44	$	0.30	$	1.55	$	1.42

Shares subject to options to purchase common stock with an exercise price greater than the average market price for the quarter were not included in the computation of earnings per common share – assuming dilution because the effect would have been antidilutive. The weighted average number of shares subject to the antidilutive options was 207,000 and 1.7 million for the three-month periods ended September 25, 2011 and September 26, 2010, respectively. The weighted average number of shares subject to the antidilutive options for the nine-month periods ended September 25, 2011 and September 26, 2010 was 306,000 and 1.5 million, respectively.