Earnings Per Share Data

9 Months Ended

Jan. 01, 2012

Earnings Per Share Data

Earnings Per Share Data

6.     Earnings Per Share Data

Basic earnings per share (“EPS”) is computed based upon the weighted-average number of common shares outstanding for each period. Diluted EPS is computed based on the weighted-average number of common shares and common equivalent shares. Common equivalent shares represent the effect of stock-based awards and contingently issuable shares related to ATK’s Convertible Senior Subordinated Notes (see Note 11) during each period presented, which, if exercised, earned, or converted, would have a dilutive effect on EPS.  In computing EPS for the quarters and nine months ended January 1, 2012 and January 2, 2011, net income as reported for each respective period is divided by (in thousands):

	Quarters Ended		Nine Months Ended
	January 1, 2012	January 2, 2011	January 1, 2012	January 2, 2011
Weighted-average basic shares outstanding	32,781	33,320	32,966	33,267
Dilutive effect of stock-based awards	174	305	215	319
Weighted-average diluted shares outstanding	32,955	33,625	33,181	33,586
Stock options excluded from the calculation of diluted EPS because the option exercise/threshold price was greater than the average market price of the common shares	29	5	5	5

As discussed further in Note 11, contingently issuable shares related to ATK’s various convertible senior subordinated notes are not included in diluted EPS for the periods presented because ATK’s average stock price during the periods did not exceed the triggering price.