EARNINGS PER SHARE

9 Months Ended

Sep. 28, 2013

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

D. EARNINGS PER SHARE

The computation of earnings per share (“EPS”) is as follows (in thousands):

	Three Months Ended						Nine Months Ended
	September 28, 2013			September 29, 2012			September 28, 2013			September 29, 2012
Numerator:
Net earnings attributable to controlling interest	$	14,091		$	4,198		$	35,087		$	25,862
Adjustment for earnings allocated to non-vested restricted common stock		(134	)		(38	)		(338	)		(225	)
Net earnings for calculating EPS	$	13,957		$	4,160		$	34,749		$	25,637
Denominator:
Weighted average shares outstanding		19,965			19,827			19,916			19,783
Adjustment for non-vested restricted common stock		(190	)		(178	)		(192	)		(172	)
Shares for calculating basic EPS		19,775			19,649			19,724			19,611
Effect of dilutive stock options		25			25			39			19
Shares for calculating diluted EPS		19,800			19,674			19,763			19,630
Net earnings per share:
Basic	$	0.71		$	0.21		$	1.76		$	1.31
Diluted	$	0.71		$	0.21		$	1.76		$	1.31

No options were excluded from the computation of diluted EPS for the quarter ended September 28, 2013 or September 29, 2012.

No options were excluded from the computation of diluted EPS for the nine months ended September 28, 2013.  Options to purchase 10,000 shares were not included in the computation of diluted EPS for the nine months ended September 29, 2012 because the options’ exercise price was greater than the average market price of the common stock during the period and, therefore would be antidilutive.