Net Income Per Share

3 Months Ended

Mar. 30, 2014

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 estimated 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 months ended March 30, 2014, and March 31, 2013, are as follows (in thousands, except per share data):

	Three Months Ended
	March 30, 2014		March 31, 2013
Net income	$	14,411	$	15,343
Weighted average shares outstanding:
Basic	36,630		38,433
Dilutive potential common shares	675		617
Total diluted	37,305		39,050
Basic net income per share	$	0.39	$	0.40
Diluted net income per share	$	0.39	$	0.39

Weighted average stock options and unvested restricted stock awards to purchase 2.6 million shares and 2.4 million shares of the Company’s stock for the three months ended March 30, 2014 and March 31, 2013, respectively, were excluded from the computation of diluted net income per share because their effect would have been anti-dilutive.