Earnings Per Share

9 Months Ended

Oct. 02, 2011

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share:

Basic earnings per share ("EPS") is computed by dividing net income by the weighted average number of our 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. Diluted EPS is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares consist of dilutive stock options and unvested shares of restricted stock that are not considered to be participating securities.

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

	Three Months Ended				Nine Months Ended
	October 2, 2011		October 3, 2010		October 2, 2011		October 3, 2010
	(in thousands, except per share amounts)
Numerator:
Net income	$	11,650	$	12,581	$	52,234	$	51,221
Denominator:
Basic weighted average common shares outstanding		18,747		20,844		19,339		21,488
Potential common shares for stock options and restricted stock		52		33		40		37
Diluted weighted average common shares outstanding		18,799		20,877		19,379		21,525
Earnings per share:
Basic	$	0.62	$	0.60	$	2.70	$	2.38
Diluted	$	0.62	$	0.60	$	2.70	$	2.38

Stock options to purchase 37,531 shares and 54,270 shares of our common stock for the three months ended October 2, 2011 and October 3, 2010, respectively, and 45,022 shares and 119,267 shares of our common stock for the nine months ended October 2, 2011 and October 3, 2010, respectively, were not included in our diluted EPS computations because the exercise prices of those stock options were greater than the weighted average market price of our common stock and, therefore, their effect would be antidilutive.