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Earnings Per Share (EPS)
 9 Months Ended
Mar. 31, 2013
Earnings Per Share (EPS)

Earnings Per Share (EPS)

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the potential dilutive common shares outstanding during the applicable period using the treasury stock method. Potential dilutive common shares include outstanding stock options and restricted stock awards.

A reconciliation of the components of the basic and diluted per-share computations follows (in thousands, except per share amounts):

 

 

 

 

 

 

 

Three Months Ended

Nine Months Ended

 

 

 

 

March 31,
2013

April 1,
2012

March 31,
2013

April 1,
2012

 

 

 

 

 

Net Income             

$              1,094             

$              2,728             

$              6,158             

$              5,558             

Less: Income Attributable to Participating Securities             

              20             

              —               

              114             

              —               

 

 

 

 

 

Net Income Attributable to Common Shareholders             

$              1,074             

$              2,728             

$              6,044             

$              5,558             

 

 

 

 

 

Weighted Average Shares of Common Stock Outstanding             

              3,327             

              3,303             

              3,318             

              3,299             

Incremental Shares – Stock based Compensation             

              62             

              30             

              43             

              30             

 

 

 

 

 

Diluted Weighted Average Shares of Common Stock Outstanding             

              3,389             

              3,333             

              3,361             

              3,329             

 

 

 

 

 

Basic Earnings Per Share             

$              0.32             

$              0.83             

$              1.82             

$              1.68             

 

 

 

 

 

Diluted Earnings Per Share             

$              0.32             

$              0.82             

$              1.80             

$              1.67             

 

 

 

 

 

Net earnings available to participating securities were not significant for the three or nine months ended April 1, 2012. We consider unvested restricted stock that provides the holder with a non-forfeitable right to receive dividends to be a participating security.

As of March 31, 2013, options to purchase 166,000 shares of common stock at a weighted-average exercise price of $42.10 were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. As of April 1, 2012, options to purchase 248,000 shares of common stock at a weighted-average exercise price of $33.75 were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.