Net Income Per Common Share

6 Months Ended

Sep. 29, 2018

Net income per common share:

Net Income Per Common Share

4. Net Income Per Common Share

Basic net income per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding.

Diluted net income per common share is computed by dividing net income by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options.

The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share:

	Three Months Ended				Six Months Ended
	September 29,  2018		September 30,   2017		September 29,   2018		September 30,  2017
Net income	$	30,111	$	14,823	$	57,578	$	36,632
Denominator for basic net income  per common share—weighted-average shares outstanding		24,325,754		23,946,360		24,233,266		23,875,749
Effect of dilution due to employee stock awards		393,302		363,233		401,880		374,991
Denominator for diluted net income per common share — weighted-average shares outstanding		24,719,056		24,309,593		24,635,146		24,250,740
Basic net income per common share	$	1.24	$	0.62	$	2.38	$	1.53
Diluted net income per common share	$	1.22	$	0.61	$	2.34	$	1.51

At September 29, 2018, 212,835 employee stock options have been excluded from the calculation of diluted earnings per share. At September 30, 2017, 171,500 employee stock options have been excluded from the calculation of diluted earnings per share. The inclusion of these employee stock options would be anti-dilutive.