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Earnings Per Share
 9 Months Ended
Mar. 29, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Accounting Standards Codification (ASC) 260-10-45, Participating Securities and the Two-Class Method ("ASC 260-10-45"), addresses whether awards granted in unvested share-based payment transactions that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and therefore are included in computing earnings per share under the two-class method. Participating securities are securities that may participate in dividends with common stock and the two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common shareholders. Under the two-class method, earnings for the period are allocated between common shareholders and other shareholders, based on their respective rights to receive dividends. Certain restricted stock awards granted under our Equity Plans are considered participating securities as these awards receive non-forfeitable dividends at the same rate as common stock.
The computations of our basic and diluted earnings per share are set forth below: 
 
Three Months Ended
 
Nine Months Ended
 
March 29,
2014
 
March 30,
2013
 
March 29,
2014
 
March 30,
2013
Net income from continuing operations
$
10,391

 
$
13,605

 
$
40,344

 
$
37,977

Less: Income allocable to participating securities
(142
)
 
(210
)
 
(560
)
 
(590
)
Net income from continuing operations available to common stockholders
$
10,249

 
$
13,395

 
$
39,784

 
$
37,387

Net income (loss) from discontinued operations
(181
)
 
(23
)
 
(8,393
)
 
720

Net income available to common stockholders
$
10,068

 
$
13,372

 
$
31,391

 
$
38,107

Basic earnings per share (shares in thousands):
 
 
 
 
 
 
 
Weighted average shares outstanding, basic
19,657

 
19,053

 
19,545

 
18,858

Basic earnings per common share:
 
 
 
 
 
 
 
From continuing operations
$
0.52

 
$
0.70

 
$
2.04

 
$
1.98

From discontinued operations
$
(0.01
)
 
$
—

 
$
(0.43
)
 
$
0.04

Basic earnings per share
$
0.51

 
$
0.70

 
$
1.61

 
$
2.02

Diluted earnings per share (shares in thousands):
 
 
 
 
 
 
 
Weighted average shares outstanding, basic
19,657

 
19,053

 
19,545

 
18,858

Weighted average effect of non-vested restricted stock grants and assumed exercise of stock options
339

 
377

 
379

 
301

Weighted average shares outstanding, diluted
19,996

 
19,430

 
19,924

 
19,159

Diluted earnings per common share:
 
 
 
 
 
 
 
From continuing operations
$
0.51

 
$
0.69

 
$
2.00

 
$
1.95

From discontinued operations
$
(0.01
)
 
$
—

 
$
(0.42
)
 
$
0.04

Diluted earnings per share
$
0.50

 
$
0.69

 
$
1.58

 
$
1.99


We excluded potential common shares related to our outstanding equity compensation grants of 109,000 and 1,500 for the three months ended March 29, 2014 and March 30, 2013, respectively, and 128,000 and 399,000 for nine months ended March 29, 2014 and March 30, 2013, respectively, from the computation of diluted earnings per share. Inclusion of these shares would have been anti-dilutive.