Income per Share

6 Months Ended

Jun. 29, 2014

Earnings Per Share [Abstract]

Income per Share

Note 4: Income per Share

The following table presents the basis for the income per share computations:

	Three Months Ended				Six Months Ended
	June 29, 2014		June 30, 2013		June 29, 2014		June 30, 2013
	(In thousands)
Numerator:
Income from continuing operations	$	15	$	29,492	$	25,171	$	51,737
Loss from discontinued operations, net of tax		-		-		(562)		-
Net income	$	15	$	29,492	$	24,609	$	51,737
Denominator:
Weighted average shares outstanding, basic		43,603		43,928		43,559		44,173
Effect of dilutive common stock equivalents		689		862		734		934
Weighted average shares outstanding, diluted		44,292		44,790		44,293		45,107

For the three and six months ended June 29, 2014, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million and 0.1 million, respectively, because to do so would have been anti-dilutive. For both the three and six months ended June 30, 2013, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million, because to do so would have been anti-dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.