Earnings Per Share (EPS)

3 Months Ended

Sep. 29, 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 unvested 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
	September29, 2013		September30, 2012
Net Income Attributable to STRATTEC SECURITY CORPORATION	$	3,211	$	2,670
Less: Income Attributable to Participating Securities		60		51
Net Income Attributable to Common Shareholders	$	3,151	$	2,619
Basic Weighted Average Shares of Common Stock Outstanding		3,382		3,309
Incremental Shares – Stock based Compensation		78		31
Diluted Weighted Average Shares of Common Stock Outstanding		3,460		3,340
Basic Earnings Per Share	$	0.93	$	0.79
Diluted Earnings Per Share	$	0.91	$	0.78

We consider unvested restricted stock that provides the holder with a non-forfeitable right to receive dividends to be a participating security.

As of September29, 2013, options to purchase 82,000 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. As of September30, 2012, options to purchase 220,000 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.