(8)	Earnings Per Share

The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share, which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding, reduced by shares repurchased and held in treasury, during the period. Diluted earnings per share represents basic earnings per share adjusted to include the dilutive effect of outstanding share option awards, nonvested share awards and nonvested share unit awards.

The following table sets forth the computation of basic and diluted earnings per common share:

	13 Weeks Ended				39 Weeks Ended
	October 1, 2017		October 2, 2016		October 1, 2017		October 2, 2016
	(In thousands, except per share data)

Net income	$	5,950	$	8,187	$	14,054	$	9,192
Weighted-average shares of common stock outstanding:
Basic		21,324		21,593		21,584		21,607
Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards		31		139		168		183
Diluted		21,355		21,732		21,752		21,790
Basic earnings per share	$	0.28	$	0.38	$	0.65	$	0.43
Diluted earnings per share	$	0.28	$	0.38	$	0.65	$	0.42
Antidilutive share option awards excluded from diluted calculation		64		154		90		239
Antidilutive nonvested share and nonvested share unit awards excluded from diluted calculation		381		2		135		—

The computation of diluted earnings per share for the 13 and 39 weeks ended October 1, 2017 and October 2, 2016 excludes share option awards that were outstanding and antidilutive (i.e., including such share option awards would result in higher earnings per share), since the exercise prices of these share option awards exceeded the average market price of the Company’s common shares. Additionally, the computation of diluted earnings per share for the periods presented excludes nonvested share awards and nonvested share unit awards that were outstanding and antidilutive, since the grant date fair values of these nonvested share awards and nonvested share unit awards exceeded the average market price of the Company’s common shares.