EARNINGS PER SHARE

3 Months Ended

Sep. 27, 2017

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted earnings per share, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted share awards. Stock options and restricted share awards with an anti-dilutive effect are not included in the dilutive earnings per share calculation.

Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as follows (in thousands):



	Thirteen Week Periods Ended
	September 27, 2017	September 28, 2016
Basic weighted average shares outstanding	48,293	54,844
Dilutive stock options	83	246
Dilutive restricted shares	356	486
	439	732
Diluted weighted average shares outstanding	48,732	55,576

Awards excluded due to anti-dilutive effect on diluted net income per share	1,414	1,027