Earnings Per Common Share

6 Months Ended

Mar. 28, 2015

Earnings Per Common Share [Abstract]

Earnings Per Common Share

7. Earnings Per Common Share

Basic earnings per share are computed by dividing net earnings by the daily weighted average number of common shares outstanding during the applicable periods. Diluted earnings per share include the potentially dilutive effect of common shares issued in connection with outstanding stock-based compensation awards using the treasury stock method. Under the treasury stock method, shares associated with certain stock options have been excluded from the diluted weighted average shares outstanding calculation because the exercise of those options would lead to a net reduction in common shares outstanding. As a result, stock options to acquire 0.2 million and 0.3 million weighted common shares have been excluded from diluted weighted shares outstanding for each of the three months ended March 28, 2015 and March 29, 2014, respectively. Stock options to acquire 0.1 million and 0.2 million weighted common shares have been excluded from diluted weighted shares outstanding for each of the six months ended March 28, 2015 and March 29, 2014, respectively. The potentially dilutive effect of common shares issued in connection with outstanding stock options is determined based on net income. A reconciliation of these amounts is as follows:

	Three Months Ended				Six Months Ended
		March 28,		March 29,		March 28,		March 29,
		2015		2014		2015		2014
	(in thousands, except per share data)
Net income	$	11,706	$	7,779	$	25,492	$	16,924
Weighted average common shares outstanding		14,986		15,245		15,047		15,299
Dilutive potential common shares		169		189		165		188
Total diluted weighted average shares outstanding		15,155		15,434		15,212		15,487
Earnings per share:
Basic	$	0.78	$	0.51	$	1.69	$	1.11
Diluted	$	0.77	$	0.50	$	1.68	$	1.09