Income Per Share

6 Months Ended

Jun. 28, 2015

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 28, 2015 there were 0.2 million shares issuable under outstanding stock options excluded from the computations. For the thirteen and twenty-six week periods ended June 29, 2014, there were 0.9 million shares issuable under outstanding stock options excluded from the computations. 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 28, 2015		June 29, 2014		June 28, 2015		June 29, 2014
Basic Income Per Share:
Reported net income	$	6,534	$	5,039	$	10,868	$	9,861
Basic income per share	$	0.24	$	0.19	$	0.41	$	0.36
Weighted average shares outstanding - Basic	26,719		27,180		26,788		27,148

Diluted Income Per Share:
Reported net income	$	6,534	$	5,039	$	10,868	$	9,861
Diluted income per share	$	0.24	$	0.18	$	0.40	$	0.36
Weighted average shares outstanding	26,719		27,180		26,788		27,148
Weighted average dilutive stock options	47		179		48		155
Weighted average shares outstanding - Diluted	26,766		27,359		26,836		27,303