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Income per Share
 9 Months Ended
Sep. 27, 2015
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     Nine Months Ended  
      September 27, 2015         September 28, 2014         September 27, 2015         September 28, 2014    
    (In thousands)  

Numerator:

        

Income from continuing operations

     $ 14,811          $ 33,847          $ 16,852          $ 59,018     

Loss from discontinued operations, net of tax

     (242)         -          (242)         -     

Loss from disposal of discontinued operations, net of tax

     -          -          (86)         (562)    
 

 

 

    

 

 

    

 

 

    

 

 

  

Net income

     $ 14,569          $ 33,847          $ 16,524          $ 58,456     
 

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

        

Weighted average shares outstanding, basic

     42,417          43,201          42,536          43,439     

Effect of dilutive common stock equivalents

     491          709          581          725     
 

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding, diluted

     42,908          43,910          43,117          44,164     
 

 

 

    

 

 

    

 

 

    

 

 

  

For the three and nine months ended September 27, 2015, diluted weighted average shares outstanding do not include outstanding equity awards of 0.5 million and 0.3 million, respectively, because to do so would have been anti-dilutive. For both the three and nine months ended September 28, 2014, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 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.