Earnings per Share

3 Months Ended

Mar. 29, 2015

Earnings per Share

Earnings per Share

6.Earnings per Share

The following tables set forth the reconciliation of the calculation of earnings per share:

	For the First Quarter Ended March 29, 2015					For the First Quarter Ended March 30, 2014
	Income (Numerator)		Shares (Denominator)	Per Share Amount		Income (Numerator)		Shares (Denominator)	Per Share Amount
	(amounts in millions, except per share amounts)
Basic EPS:
Net income	$	11.6	35.1	$	0.33	$	14.1	35.4	$	0.40
Effect of dilutive securities:
Common stock equivalents			0.1					0.1
Diluted EPS:
Net income	$	11.6	35.2	$	0.33	$	14.1	35.5	$	0.40

Options to purchase 0.3 million shares of Class A common stock were outstanding during the first quarters of 2015 and 2014, respectively, but were not included in the computation of diluted EPS because to do so would be anti-dilutive.

On April 30, 2013, the Company’s Board of Directors authorized the repurchase of up to $90 million of the Company’s Class A common stock from time to time on the open market or in privately negotiated transactions.  In connection with this repurchase program, the Company entered into a Rule 10b5-1 plan, which permits shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.  The repurchase program may be suspended or discontinued at any time, subject to the terms of the Rule 10b5-1 plan with respect to the repurchase program.  During the first quarter ended March 29, 2015, the Company repurchased approximately 164,000 shares of Class A common stock at a cost of approximately $9.4 million.  As of March 29, 2015, there was approximately $18 million remaining authorized for share repurchase under this program.