Earnings per Share

6 Months Ended

Jul. 02, 2011

Earnings per Share [Abstract]

Earnings per Share

(5) Earnings per Share:

The following table reconciles the numerators and denominators used in the calculations of basic and diluted earnings per share for the periods presented.

	Second Quarter Ended
	July 2, 2011			July 3, 2010
Earnings per share — Basic
Net income	$	14,158,000		$	17,816,000
Less: Net earnings allocated to participating securities — Basic		(141,000	)		(187,000	)
Income available to common shareholders — Basic	$	14,017,000		$	17,629,000
Weighted average common shares outstanding — Basic		32,205,000			33,119,000
Earnings per share — Basic	$	0.44		$	0.53
Earnings per share — Diluted
Net income	$	14,158,000		$	17,816,000
Less: Net earnings allocated to participating securities — Diluted		(141,000	)		(187,000	)
Income available to common shareholders — Diluted	$	14,017,000		$	17,629,000
Weighted average common shares outstanding — Diluted
Weighted average common shares outstanding — Basic		32,205,000			33,119,000
Potential dilutive shares resulting from stock options		28,000			28,000
Weighted average common shares outstanding — Diluted		32,233,000			33,147,000
Earnings per share — Diluted	$	0.43		$	0.53

	First Half Ended
	July 2, 2011			July 3, 2010
Earnings per share — Basic
Net income	$	26,148,000		$	31,643,000
Less: Net earnings allocated to participating securities — Basic		(270,000	)		(339,000	)
Income available to common shareholders — Basic	$	25,878,000		$	31,304,000
Weighted average common shares outstanding — Basic		32,406,000			33,225,000
Earnings per share — Basic	$	0.80		$	0.94
Earnings per share — Diluted
Net income	$	26,148,000		$	31,643,000
Less: Net earnings allocated to participating securities — Diluted		(270,000	)		(339,000	)
Income available to common shareholders — Diluted	$	25,878,000		$	31,304,000
Weighted average common shares outstanding — Diluted
Weighted average common shares outstanding — Basic		32,406,000			33,225,000
Potential dilutive shares resulting from stock options		28,000			28,000
Weighted average common shares outstanding — Diluted		32,434,000			33,253,000
Earnings per share — Diluted	$	0.80		$	0.94

Certain options granted to purchase shares of common stock were excluded from the computation of diluted earnings per share because the exercise prices of these options were greater than the average market price of the common shares for the periods shown below:

	Second Quarter Ended				First Half Ended
	July 2, 2011		July 3, 2010		July 2, 2011		July 3, 2010
Shares excluded		420,500		385,500		403,000		385,500