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Net Income Per Share
9 Months Ended
Oct. 02, 2011
Net Income Per Share [Abstract] 
Net Income Per Share

10. 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 nine months ended October 2, 2011 and October 3, 2010 are as follows (in thousands, except per share data):

 

     Three Months Ended      Nine Months Ended  
     October 2,
2011		      October 3,
2010		      October 2,
2011		      October 3,
2010		  

Net income

    $ 26,747       $ 13,095       $ 68,533       $ 37,287   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding:

            

Basic

      37,483         35,441         36,967         35,218   

Dilutive potential common shares

      597         568         845         673   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total diluted

      38,080         36,009         37,812         35,891   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic net income per share

    $ 0.71       $ 0.37       $ 1.85       $ 1.06   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted net income per share

    $ 0.70       $ 0.36       $ 1.81       $ 1.04   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average stock options and unvested restricted stock awards to purchase 1,860,645 and 1,897,788 shares of the Company's stock for the three and nine months ended October 2, 2011, respectively, and 2,728,227 and 2,808,503 shares for the three and nine months ended October 3, 2010, respectively, were excluded from the computation of diluted net income per share because their effect would have been anti-dilutive.