EARNINGS PER SHARE

12 Months Ended

Jul. 01, 2017

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)
	July 1, 2017		July 2, 2016		June 27, 2015
Net income	$	5,617	$	6,533	$	4,304
Weighted average shares outstanding– basic	10,756		10,710		10,572
Effect of dilutive common stock awards	161		568		714
Weighted average shares outstanding – diluted	10,917		11,278		11,286
Earnings per share – basic	$	0.52	$	0.61	$	0.41
Earnings per share – diluted	$	0.51	$	0.58	$	0.38
Antidilutive SARs not included in diluted earnings per share	892		442		208