Net Income per Share (Tables)

3 Months Ended

Mar. 31, 2018

Computation of Earnings Per Share, Basic

The following table sets forth the computation of basic net income per share using the two-class method:

	Thirteen weeks ended
	March 31, 2018		April 1, 2017
	(in thousands, except per share data)
Net income	$	9,310	$	5,711
Allocation of net income for basic:
Class A Common Stock	$	6,872	$	4,227
Class B Common Stock		2,380		1,452
Unvested participating shares		58		32
	$	9,310	$	5,711
Weighted average number of shares for basic:
Class A Common Stock		8,714		9,230
Class B Common Stock*		3,018		3,170
Unvested participating shares		73		71
		11,805		12,471
Net income per share for basic:
Class A Common Stock	$	0.79	$	0.46
Class B Common Stock	$	0.79	$	0.46

*Change in Class B Common Stock resulted from the conversion of 79,000 shares to Class A Common Stock on October 31, 2017 with the ending number of shares reflecting the weighted average for the period.

Computation of Earnings Per Share, Diluted

The following table sets forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock and using the two-class method for unvested participating shares:

	Thirteen weeks ended
	March 31, 2018						April 1, 2017
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported – basic	$	6,872		8,714	$	0.79	$	4,227		9,230	$	0.46
Add: effect of dilutive potential common shares
Share-based awards		—		99				—		116
Class B Common Stock		2,380		3,018				1,452		3,170
Net effect of unvested participating shares		1		—				—		—
Net income per common share – diluted	$	9,253		11,831	$	0.78	$	5,679		12,516	$	0.45