Earnings per Share

6 Months Ended

Dec. 30, 2016

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 30, 2016 and December 25, 2015:



	Three Months Ended				Six Months Ended
	December 30, 2016		December 25, 2015		December 30, 2016		December 25, 2015
Net income applicable to TRC Companies, Inc.	$	3,998	$	3,937	$	7,637	$	8,429

Basic weighted-average common shares outstanding	31,451		30,968		31,300		30,805
Effect of dilutive stock options, RSA's, RSU's and PSU's	515		401		483		542
Diluted weighted-average common shares outstanding	31,966		31,369		31,783		31,347

Earnings per common share applicable to TRC Companies, Inc.
Basic earnings per common share	$	0.13	$	0.13	$	0.24	$	0.27
Diluted earnings per common share	$	0.13	$	0.13	$	0.24	$	0.27
Anti-dilutive stock options, RSA's, RSU's and PSU's, excluded from the calculation	1,130		1,423		1,161		1,282