EARNINGS PER SHARE

12 Months Ended

Jun. 27, 2015

Basic earnings per share (EPS) is calculated by dividing net income (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Diluted EPS is computed by including both the weighted-average number of shares outstanding and any dilutive common share equivalents in the denominator. The following table presents a reconciliation of the denominator and the number of antidilutive common share awards that were not included in the diluted earnings per share calculation. These antidilutive securities occur when equity awards outstanding have an option price greater than the average market price for the period:



	Fiscal Year Ended (in thousands, except per share information)
	June 27, 2015		June 28, 2014		June 29, 2013
Net income	$	4,304	$	7,613	$	12,583
Weighted average shares outstanding– basic	10,572		10,528		10,490
Effect of dilutive common stock awards	714		830		762
Weighted average shares outstanding – diluted	11,286		11,358		11,252
Earnings per share – basic	$	0.41	$	0.72	$	1.20
Earnings per share – diluted	$	0.38	$	0.67	$	1.12
Antidilutive SARs not included in diluted earnings per share	208		208		—