Net Income Per Share

3 Months Ended

Apr. 03, 2016

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 April 3, 2016 and March 29, 2015 are as follows (in thousands, except per share data):



	Three Months Ended
	April 3, 2016		March 29, 2015
Numerator:
Net income	$	16,589	$	8,011

Denominator:
Weighted average common shares - basic	32,519		34,678
Potentially dilutive common share equivalent	750		607
Weighted average common shares - dilutive	33,269		35,285

Basic net income per share	$	0.51	$	0.23
Diluted net income per share	$	0.50	$	0.23

Anti-dilutive employee stock-based awards, excluded	486		2,368