Income Per Share

9 Months Ended

Sep. 23, 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 thirty-nine week periods ended September 23, 2012, 2.5 million and 2.1 million shares issuable under outstanding stock options were excluded from the computations, respectively.  For the thirteen and thirty-nine week periods ended September 25, 2011, 1.9 million and 1.5 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				Thirty-nine Weeks Ended
	September 23, 2012		September 25, 2011		September 23, 2012		September 25, 2011
Basic Income Per Share:
Reported net income	$	15,056	$	4,228	$	28,204	$	26,982
Basic income per share	$	0.55	$	0.16	$	1.04	$	1.00
Weighted average shares outstanding - Basic	27,234		27,156		27,205		27,022
Diluted Income Per Share:
Reported net income	$	15,056	$	4,228	$	28,204	$	26,982
Diluted income per share	$	0.55	$	0.16	$	1.03	$	0.99
Weighted average shares outstanding	27,234		27,156		27,205		27,022
Weighted average dilutive stock options	87		121		108		357
Weighted average shares outstanding - Diluted	27,321		27,277		27,313		27,379