Earnings Per Share

6 Months Ended

Jun. 28, 2014

Earnings Per Share [Abstract]

Earnings Per Share

6. Earnings Per Share

Basic earnings per share is calculated by dividing our net income by the weighted average number of common shares outstanding during the period, excluding nonvested restricted stock which is considered to be contingently issuable. To calculate diluted earnings per share, common share equivalents are added to the weighted average number of common shares outstanding. Common share equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards. However, in periods when the price of our stock-based awards, by grant, is greater than our average stock price during the period, those common share equivalents are considered anti-dilutive and are excluded from the calculation of diluted earnings per share. No stock-based awards were considered anti-dilutive as of June 28, 2014 and June 29, 2013.

The following table sets forth the computation of basic earnings per share and diluted earnings per share:

	Thirteen Weeks Ended				Twenty-six Weeks Ended
(in thousands, except per share data)	June 28, 2014		June 29, 2013		June 28, 2014		June 29, 2013
Numerator:
Net income	$	23,244	$	19,342	$	46,795	$	38,414
Denominator:
Weighted average basic shares outstanding		36,315		36,347		36,344		36,331
Effect of stock-based compensation awards		156		338		170		327
Weighted average diluted shares outstanding		36,471		36,685		36,514		36,658
Earnings Per Share:
Basic	$	0.64	$	0.53	$	1.29	$	1.06
Diluted	$	0.64	$	0.53	$	1.28	$	1.05