Income Per Share

6 Months Ended

Jun. 26, 2016

Earnings Per Share

In accordance with U.S. GAAP, basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding for the period. For the purposes of calculating diluted earnings per share, net income is divided by the total of the weighted average shares outstanding plus the dilutive effect of our outstanding stock options under the treasury stock method, which includes consideration of stock-based compensation required by U.S. GAAP.



(Dollars in thousands, except per share amounts)	Thirteen Weeks Ended				Twenty-six Weeks Ended
	June 26, 2016		June 28, 2015		June 26, 2016		June 28, 2015
Basic Income Per Share:
Reported net income	$	13,165	$	6,534	$	27,628	$	10,868
Basic income per share	$	0.52	$	0.24	$	1.08	$	0.41
Weighted average shares outstanding - Basic	25,430		26,719		25,512		26,788

Diluted Income Per Share:
Reported net income	$	13,165	$	6,534	$	27,628	$	10,868
Diluted income per share	$	0.52	$	0.24	$	1.08	$	0.40
Weighted average shares outstanding	25,430		26,719		25,512		26,788
Weighted average dilutive stock options and restricted stock units	113		47		75		48
Weighted average shares outstanding - Diluted	25,543		26,766		25,587		26,836

For the first half of 2016 and 2015, no options were excluded from the diluted earnings per share calculation as being anti-dilutive. In addition, the performance shares discussed in Note 16 - Stock-Based Compensation are not included in the diluted earnings per share because the performance metrics had not been met as of the period ended June 26, 2016.