Net Income (Loss) Per Common Share

6 Months Ended

Apr. 26, 2013

Net Income (Loss) Per Common Share [Abstract]

Net Income (Loss) Per Common Share

NOTE 13 – NET INCOME (LOSS) PER COMMON SHARE

The following table presents the net income (loss) per common share calculations for the three and six months ended April 26, 2013 and April 27, 2012:

	Three Months Ended				Six Months Ended
	April 26, 2013		April 27, 2012		April 26, 2013		April 27, 2012
Basic
Net income (loss)	$	76,908	$	76,540	$	131,937	$	132,322
Weighted-average common shares outstanding - basic		88,416,020		92,068,366		88,946,806		92,464,748
Net Income (Loss) per Common Share – Basic	$	0.87	$	0.83	$	1.48	$	1.43
Diluted
Net income (loss)	$	76,908	$	76,540	$	131,937	$	132,322
Weighted-average common shares outstanding – basic		88,416,020		92,068,366		88,946,806		92,464,748
Diluted effect of stock options and unvested restricted stock		2,749,725		3,026,003		2,835,101		2,877,801
Equivalent average common shares outstanding - diluted		91,165,745		95,094,369		91,781,907		95,342,549
Net Income (Loss) per Common Share - Diluted	$	0.84	$	0.80	$	1.44	$	1.39

Basic earnings per share are based on the weighted-average number of common shares outstanding during each period. In computing diluted earnings per share, the number of common shares outstanding is increased by common stock options with exercise prices lower than the average market prices of common shares during each period and reduced by the number of shares assumed to have been purchased with proceeds from the exercised options. If we are in a net loss position, these shares are excluded as they are antidilutive. Potential common shares of 256,251 and 227,728 related to our outstanding stock options were excluded from the computation of diluted earnings per share for the three and six months ended April 26, 2013, respectively, as inclusion of these shares would have been antidilutive. Potential common shares of 27,897 and 15,717 related to our outstanding stock options were excluded from the computation of diluted earnings per share for the three and six months ended April 27, 2012, respectively, as inclusion of these shares would have been antidilutive.