Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

 v2.3.0.11
Earnings Per Share
6 Months Ended
Jul. 10, 2011
Earnings Per Share  
Earnings Per Share

4.                        Earnings Per Share

 

Basic earnings 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 twelve and twenty-eight weeks ended July 10, 2011, 172,000 and 191,000, respectively, weighted stock options outstanding 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 twelve and twenty-eight weeks ended July 11, 2010, 571,000 and 504,000, respectively, weighted stock options outstanding 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 impact of outstanding stock options.  The computations for basic and diluted earnings (loss) per share are as follows (in thousands, except per share data):

 

 

 

Twelve Weeks Ended

 

Twenty-eight Weeks Ended

 

 

 

July 10,
2011

 

July 11,
2010

 

July 10,
2011

 

July 11,
2010

 

Net income

 

$

6,894

 

$

4,333

 

$

15,603

 

$

9,285

 

Basic weighted-average shares outstanding

 

15,263

 

15,494

 

15,399

 

15,484

 

Dilutive effect of stock options and awards

 

276

 

177

 

232

 

170

 

Diluted weighted-average shares outstanding

 

15,539

 

15,671

 

15,631

 

15,654

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

0.45

 

$

0.28

 

$

1.01

 

$

0.60

 

Diluted

 

$

0.44

 

$

0.28

 

$

1.00

 

$

0.59