Net Income Per Share

9 Months Ended

Dec. 28, 2013

Net Income Per Share [Abstract]

Net Income Per Share

9.Net Income Per Share

Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period.  Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.  These potentially dilutive items consist primarily of outstanding stock options and restricted stock awards.

The following table details the calculation of basic and diluted earnings per share for the three and nine months ended December 28, 2013 and December 29, 2012 (in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	December 28, 2013		December 29, 2012		December 28, 2013		December 29, 2012
Numerator:
Net income	$	41,500	$	67,862	$	95,509	$	110,238
Denominator:
Weighted average shares outstanding		62,854		65,055		63,170		64,859
Effect of dilutive securities		2,514		3,811		2,724		4,087
Weighted average diluted shares		65,368		68,866		65,894		68,946
Basic earnings per share	$	0.66	$	1.04	$	1.51	$	1.70
Diluted earnings per share	$	0.63	$	0.99	$	1.45	$	1.60

The weightedoutstanding options excluded from our diluted calculation for the three and nine months ended December 28, 2013, were1,226,000,  and1,305,000, respectively.  The weightedoutstanding options excluded from our diluted calculation for the three and nine months ended December 29, 2012, were924,000 and 309,000, respectively. These options were excluded as the exercise priceexceeded the average market price during the periods.