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Net Income Per Share
 6 Months Ended
Jun. 29, 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 equity awards under the employee benefit plans, 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 and six months ended June 29, 2014, and June 30, 2013, are as follows (in thousands, except per share data):
 
 
Three Months Ended
 
Six Months Ended
 
June 29,
2014
 
June 30,
2013
 
June 29,
2014
 
June 30,
2013
Net income
$
14,705

 
$
13,985

 
$
29,116

 
$
29,328

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
36,139

 
38,539

 
36,381

 
38,493

Dilutive potential common shares
669

 
535

 
671

 
584

Total diluted
36,808

 
39,074

 
37,052

 
39,077

 
 
 
 
 
 
 
 
Basic net income per share
$
0.41

 
$
0.36

 
$
0.80

 
$
0.76

Diluted net income per share
$
0.40

 
$
0.36

 
$
0.79

 
$
0.75



Weighted average stock options and unvested restricted stock awards to purchase 2.5 million shares and 2.9 million shares of the Company’s stock for the three months ended June 29, 2014, and June 30, 2013, respectively, and 2.5 million and 2.8 million shares for the six months ended June 29, 2014, and June 30, 2013, respectively, were excluded from the computation of diluted net income per share because their effect would have been anti-dilutive.