Net Income per Share

6 Months Ended

Jun. 25, 2011

Net Income per Share [Abstract]

Net Income per Share

C. Net Income per Share

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

	Three months ended				Six months ended
	June 25,		June 26,		June 25,		June 26,
	2011		2010		2011		2010
	(in thousands, except per share data)
Net income	$	28,019	$	16,270	$	31,978	$	22,530
Weighted average shares of Class A Common Stock		9,116		9,731		9,142		9,792
Weighted average shares of Class B Common Stock		4,107		4,107		4,107		4,107
Shares used in net income per common share — basic		13,223		13,838		13,249		13,899
Effect of dilutive securities:
Stock options		676		502		680		443
Non-vested investment shares and restricted stock		48		50		48		39
Dilutive potential common shares		724		552		728		482
Shares used in net income per common share — diluted		13,947		14,390		13,977		14,381
Net income per common share — basic	$	2.12	$	1.18	$	2.41	$	1.62
Net income per common share — diluted	$	2.01	$	1.13	$	2.29	$	1.57

Basic net income per common share for each share of Class A Common Stock and Class B Common Stock is $2.12 and $1.18 for the three months ended June 25, 2011 and June 26, 2010, respectively, and $2.41 and $1.62 for the six months ended June 25, 2011 and June 26, 2010, respectively, as each share of Class A and Class B participates equally in earnings. Shares of Class B are convertible at any time into shares of Class A on a one-for-one basis at the option of the stockholder.

During the three and six-months ended June 25, 2011, weighted-average options to purchase approximately 243,600 and 210,200 shares, respectively, of Class A Common Stock were outstanding but not included in computing diluted income per share because their effects were anti-dilutive. During the three and six-months ended June 26, 2010, weighted-average options to purchase approximately 65,700 and 60,300 shares, respectively, of Class A Common Stock were outstanding but not included in computing diluted income per share because their effects were anti-dilutive. Additionally, performance-based stock options to purchase 67,850 and 115,000 shares of Class A Common Stock were outstanding as of June 25, 2011 and June 26, 2010, respectively, but not included in computing diluted income per share because the performance criteria of these stock options were not expected to be met as of the respective dates. Furthermore, performance-based stock options to purchase 229,700 shares of Class A Common Stock were not included in computing diluted income per share because the performance criteria of these stock options were not met and the options were cancelled during the six months ended June 26, 2010.