Note 7 - Earnings Per Common Share

6 Months Ended

Jun. 24, 2012

Earnings Per Share [Text Block]

(7)       Earnings Per Share

The following is a reconciliation of basic and fully diluted earnings per common share for the three-month and six-month periods ended June 24, 2012 and June 26, 2011:

	Three months ended June 24, 2012
	Earnings (numerator)		Shares (denominator)		Per-share amount
Net earnings	$	11,662
Earnings per common share		11,662		18,574,924	$	0.63
Effect of dilutive securities – stock options		—		85,542
Earnings per common share – assuming dilution	$	11,662		18,660,466		0.62

	Three months ended June 26, 2011
	Earnings (numerator)		Shares (denominator)		Per-share amount
Net earnings	$	10,673
Earnings per common share		10,673		18,330,333	$	0.58
Effect of dilutive securities – stock options		—		71,144
Earnings per common share – assuming dilution	$	10,673		18,401,477		0.58

	Six months ended June 24, 2012
	Earnings (numerator)		Shares (denominator)		Per-share amount
Net earnings	$	29,907
Earnings per common share		29,907		18,565,131	$	1.61
Effect of dilutive securities – stock options		—		84,696
Earnings per common share – assuming dilution	$	29,907		18,649,827		1.60

	Six months ended June 26, 2011
	Earnings (numerator)		Shares (denominator)		Per-share amount
Net earnings	$	25,534
Earnings per common share		25,534		18,318,342	$	1.39
Effect of dilutive securities – stock options		—		70,822
Earnings per common share – assuming dilution	$	25,534		18,389,164		1.39

The following is a summary of those securities outstanding at the end of the respective periods, which have been excluded from the fully diluted calculations because the effect on net earnings per common share would have been antidilutive or were performance-granted shares for which the performance criteria had not yet been met:

	Three months ended				Six months ended
	June 24, 2012		June 26, 2011		June 24, 2012		June 26, 2011
Stock options		27,691		11,768		13,845		19,506
Restricted stock units		478,076		657,701		478,076		657,701