Earnings Per Share (EPS)

6 Months Ended

Dec. 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 for the periods presented below follows (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	December 29,2013		December 30, 2012		December 29,2013		December 30,2012
Net Income Attributable to STRATTEC SECURITY CORPORATION	$	3,873	$	2,394	$	7,084	$	5,064
Less: Income Attributable to Participating Securities		69		43		129		94
Net Income Attributable to Common Shareholders	$	3,804	$	2,351	$	6,955	$	4,970
Basic Weighted Average Shares of Common Stock Outstanding		3,413		3,317		3,397		3,313
Incremental Shares – Stock based Compensation		74		36		76		33
Diluted Weighted Average Shares of Common Stock Outstanding		3,487		3,353		3,473		3,346
Basic Earnings Per Share	$	1.11	$	0.71	$	2.05	$	1.50
Diluted Earnings Per Share	$	1.09	$	0.70	$	2.00	$	1.48

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

As of December 29, 2013, options to purchase 67,340 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. As of December 30, 2012, options to purchase 206,000 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.