Net Income Per Share

9 Months Ended

Sep. 27, 2015

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 and nine months ended September 27, 2015 and September 28, 2014 are as follows (in thousands, except per share data):



	Three Months Ended				Nine Months Ended
	September 27, 2015		September 28, 2014		September 27, 2015		September 28, 2014
Numerator:
Net income	$	15,099	$	20,025	$	26,777	$	49,141

Denominator:
Weighted average common shares - basic	31,979		35,643		33,473		36,133
Potentially dilutive common share equivalent	356		607		529		673
Weighted average common shares - dilutive	32,335		36,250		34,002		36,806

Basic net income per share	$	0.47	$	0.56	$	0.80	$	1.36
Diluted net income per share	$	0.47	$	0.55	$	0.79	$	1.34

Anti-dilutive employee stock-based awards, excluded	2,768		2,774		$	2,486	$	2,608