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Net Income Per Share
 6 Months Ended
Jul. 01, 2012
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
Basic net income per share is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing the net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include outstanding stock options and unvested restricted stock awards, which are reflected in diluted net income per share by application of the treasury stock method. Under the treasury stock method, the amount that the employee must pay for exercising stock options, the amount of stock-based compensation cost for future services that the Company has not yet recognized, and the amount of tax benefit that would be recorded in additional paid-in capital upon exercise are assumed to be used to repurchase shares.
Net income per share for the three and six months ended July 1, 2012, and July 3, 2011, are as follows (in thousands, except per share data):
 
 
Three Months Ended
 
Six Months Ended
 
July 1,
2012
 
July 3,
2011
 
July 1,
2012
 
July 3,
2011
Net income
$
21,522

 
$
20,597

 
$
46,669

 
$
41,786

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
37,978

 
37,017

 
37,886

 
36,712

Dilutive potential common shares
617

 
951

 
726

 
968

Total diluted
38,595

 
37,968

 
38,612

 
37,680

 
 
 
 
 
 
 
 
Basic net income per share
$
0.57

 
$
0.56

 
$
1.23

 
$
1.14

Diluted net income per share
$
0.56

 
$
0.54

 
$
1.21

 
$
1.11



Weighted average stock options and unvested restricted stock awards to purchase 2.7 million shares and 1.6 million shares of the Company’s stock for the three months ended July 1, 2012, and July 3, 2011, respectively, and 2.5 million and 1.7 million shares for the six months ended July 1, 2012, and July 3, 2011, respectively, were excluded from the computation of diluted net income per share because their effect would have been anti-dilutive.