Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v2.4.0.6
Earnings per Share
9 Months Ended
Sep. 30, 2012
Earnings per Share  
Earnings per Share

5.                        Earnings per Share

 

Basic earnings per share amounts are calculated by dividing net income by the weighted-average number of common shares outstanding during the period.  Diluted earnings 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 forty weeks ended September 30, 2012, stock options outstanding of 293,000 and 306,000, respectively, 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 forty weeks ended October 2, 2011, stock options outstanding of 249,000 and 226,000, respectively, 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 per share are as follows (in thousands, except per share data):

 

 

 

Twelve Weeks Ended

 

Forty Weeks Ended

 

 

 

September 30,
2012

 

October 2,
2011

 

September 30,
2012

 

October 2,
2011

 

Net income

 

$

3,533

 

$

2,069

 

$

21,839

 

$

17,672

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

14,300

 

15,024

 

14,517

 

15,154

 

Dilutive effect of stock options and awards

 

239

 

253

 

261

 

241

 

Diluted weighted average shares outstanding

 

14,539

 

15,277

 

14,778

 

15,395

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

0.25

 

$

0.14

 

$

1.50

 

$

1.17

 

Diluted

 

$

0.24

 

$

0.14

 

$

1.48

 

$

1.15