Earnings per Share

6 Months Ended

Dec. 25, 2015

Basic earnings per share ("EPS") is computed based on the weighted-average number of shares of common stock outstanding during the period. Diluted EPS is computed using the treasury stock method for stock options, warrants, non-vested restricted stock awards and units, and non-vested performance stock units. The treasury stock method assumes conversion of all potentially dilutive shares of common stock with the proceeds from assumed exercises used to hypothetically repurchase stock at the average market price for the period. Diluted EPS is computed by dividing net income applicable to the Company by the weighted-average common shares and potentially dilutive common shares that were outstanding during the period.

The following table sets forth the computations of basic and diluted EPS for the three and six months ended December 25, 2015 and December 26, 2014:



	Three Months Ended				Six Months Ended
	December 25, 2015		December 26, 2014		December 25, 2015		December 26, 2014
Net income applicable to TRC Companies, Inc.	$	3,937	$	4,002	$	8,429	$	7,487

Basic weighted-average common shares outstanding	30,968		30,329		30,805		30,157
Effect of dilutive stock options, RSA's, RSU's and PSU's	401		202		542		301
Diluted weighted-average common shares outstanding	31,369		30,531		31,347		30,458

Earnings per common share applicable to TRC Companies, Inc.
Basic earnings per common share	$	0.13	$	0.13	$	0.27	$	0.25
Diluted earnings per common share	$	0.13	$	0.13	$	0.27	$	0.25
Anti-dilutive stock options, RSA's, RSU's and PSU's, excluded from the calculation	1,423		2,098		1,282		2,000