Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 4 Months Ended
Apr. 15, 2012
Earnings Per Share  
Earnings Per Share

4.                        Earnings Per Share

 

Basic earnings (loss) per share amounts are calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period.  Diluted earnings (loss) per share amounts are calculated based upon the weighted-average number of common shares and potentially dilutive shares of common stock outstanding during the period.  Potentially dilutive shares are excluded from the computation in periods in which they have an anti-dilutive effect.  Diluted earnings per share reflect the potential dilution that could occur if holders of options exercised their options into common stock.  During the sixteen weeks ended April 15, 2012, weighted stock options outstanding of 280,000 were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.  During the sixteen weeks ended April 17, 2011, weighted stock options outstanding of 389,000 were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.  The Company uses the treasury stock method to calculate the effect of outstanding stock options.  The computations for basic and diluted earnings (loss) per share are as follows (in thousands, except per share data):

 

 

 

Sixteen Weeks Ended

 

 

 

April 15,
2012

 

April 17,
2011

 

Net income

 

$

10,558

 

$

8,708

 

Basic weighted-average shares outstanding

 

14,611

 

15,466

 

Dilutive effect of stock options and awards

 

283

 

175

 

Diluted weighted-average shares outstanding

 

14,984

 

15,641

 

 

 

 

 

 

 

Earnings (loss) per share:

 

 

 

 

 

Basic

 

$

0.72

 

$

0.56

 

Diluted

 

$

0.71

 

$

0.56