EARNINGS PER SHARE ("EPS")

3 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (“EPS”)

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations. Basic EPS is computed by dividing net income by weighted average shares outstanding. Diluted EPS includes the effect of potentially dilutive common shares.

	Three Months Ended
	June 30, 2012		July 2, 2011
	(in thousands, except per share amounts)
Basic EPS
Net income	$	9,787	$	16,947
Weighted average shares	25,483		25,731
Basic income per share	$	0.38	$	0.66
Diluted EPS
Net income	$	9,787	$	16,947
Basic weighted average shares	25,483		25,731
Net effect of common stock equivalents	449		485
Diluted weighted average shares	25,932		26,216
Diluted income per share	$	0.38	$	0.65

Weighted average shares outstanding, assuming dilution, excludes the impact of 0.4 million stock options for the three months ended June 30, 2012 and 0.5 million for the three months ended July 2, 2011, respectively, because these securities were anti-dilutive during the noted periods.