Income Per Share

9 Months Ended

Sep. 25, 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 and time and performance based restricted stock units 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				Thirty-nine Weeks Ended
	September 25, 2016		September 27, 2015		September 25, 2016		September 27, 2015
Basic Income Per Share:
Reported net income	$	5,974	$	4,946	$	33,602	$	15,814
Basic income per share	$	0.24	$	0.19	$	1.32	$	0.59
Weighted average shares outstanding - Basic	25,424		26,557		25,482		26,708

Diluted Income Per Share:
Reported net income	$	5,974	$	4,946	$	33,602	$	15,814
Diluted income per share	$	0.23	$	0.19	$	1.31	$	0.59
Weighted average shares outstanding	25,424		26,557		25,482		26,708
Weighted average dilutive stock options and restricted stock units	146		27		97		37
Weighted average shares outstanding - Diluted	25,570		26,584		25,579		26,745

For the first three quarters 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 September 25, 2016.