Income Per Share

6 Months Ended

Jun. 24, 2012

Income Per Share [Abstract]

Earnings Per Share [Text Block]

Income Per Share

In accordance with U.S. GAAP, basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period.  Diluted earnings per share includes the dilutive effect of outstanding stock options calculated using the treasury stock method.

The computation of diluted earnings per share does not include stock option awards that were outstanding and anti-dilutive (i.e., including such awards would result in higher earnings per share), since the exercise prices of these awards exceeded the average market price of the company’s common stock during the respective periods.  For the thirteen and twenty-six week periods ended June 24, 2012, 2.6 million and 2.0 million shares issuable under outstanding stock options were excluded from the computations, respectively.  For the thirteen and twenty-six week periods ended June 26, 2011, 1.0 million and 1.1 million shares issuable under outstanding stock options were excluded from the computations, respectively. Summarized below are the calculations of basic and diluted earnings per share.

(In thousands, except per share amounts)	Thirteen Weeks Ended				Twenty-six Weeks Ended
	June 24, 2012		June 26, 2011		June 24, 2012		June 26, 2011
Basic Income Per Share:
Reported net income	$	6,414	$	14,700	$	13,147	$	22,754
Basic income per share	$	0.24	$	0.54	$	0.48	$	0.84
Weighted average shares outstanding - Basic	27,209		27,045		27,190		26,955
Diluted Income Per Share:
Reported net income	$	6,414	$	14,700	$	13,147	$	22,754
Diluted income per share	$	0.23	$	0.53	$	0.48	$	0.83
Weighted average shares outstanding	27,209		27,045		27,190		26,955
Weighted average dilutive stock options	98		516		123		485
Weighted average shares outstanding - Diluted	27,307		27,561		27,313		27,440