EARNINGS PER SHARE ("EPS")

6 Months Ended

Oct. 01, 2011

3. 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
	October 1, 2011		October 2, 2010
	(in thousands, except per share amounts)
Basic EPS
Net income	$	13,880	$	21,338

Weighted average shares		25,418		24,686

Basic income per share	$	0.55	$	0.86


Diluted EPS
Net income	$	13,880	$	21,338

Basic weighted average shares		25,418		24,686
Net effect of common stock equivalents		425		542

Diluted weighted average shares		25,843		25,228

Diluted income per share	$	0.54	$	0.85


	Six Months Ended
	October 1, 2011		October 2, 2010
	(in thousands, except per share amounts)
Basic EPS
Net income	$	30,828	$	39,257

Weighted average shares		25,575		24,913

Basic income per share	$	1.21	$	1.58


Diluted EPS
Net income	$	30,828	$	39,257

Basic weighted average shares		25,575		24,913
Net effect of common stock equivalents		454		546

Diluted weighted average shares		26,029		25,459

Diluted income per share	$	1.18	$	1.54

Weighted average shares outstanding, assuming dilution, excludes the impact of 0.4 million and 1.1 million stock options for the second quarter of fiscal year 2012 and 2011, respectively, 0.4 million and 0.8 million stock options for the first six months of fiscal year 2012 and 2011, respectively, because these securities were anti-dilutive during the noted periods.