Earnings Per Share

9 Months Ended

Sep. 29, 2013

Earnings Per Share [Abstract]

Earnings Per Share:

Earnings Per Share:

Basic earnings per share (“EPS”) represents net income divided by the weighted average number of common shares outstanding during the period. Common shares outstanding consist of shares of our common stock and certain unvested shares of restricted stock containing nonforfeitable dividend rights. As of March 31, 2013, all shares of restricted stock with nonforfeitable dividend rights had vested. Diluted EPS represents net income divided by the basic weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares represent the incremental common shares issuable upon the vesting of unvested shares of restricted stock. The dilutive effect of potential common shares is determined using the treasury stock method, whereby unamortized stock-based compensation cost of unvested restricted stock, and any associated excess tax benefits are assumed to be used to repurchase our common stock at the average market price during the period.

The following table sets forth the computation of basic and diluted EPS:

	Three Months Ended				Nine Months Ended
	September 29, 2013		September 30, 2012		September 29, 2013		September 30, 2012
	(in thousands, except per share data)
Numerator:
Net income	$	7,439	$	7,794	$	47,935	$	44,177
Denominator:
Basic weighted average common shares outstanding	16,958		17,397		17,128		17,595
Potential common shares for restricted stock	163		76		110		57
Diluted weighted average common shares outstanding	17,121		17,473		17,238		17,652
Earnings per share:
Basic	$	0.44	$	0.45	$	2.80	$	2.51
Diluted	$	0.43	$	0.45	$	2.78	$	2.50