NET INCOME PER SHARE

6 Months Ended

Dec. 27, 2017

Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted net income 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 net income 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 net income per share calculation.

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



	Thirteen Week Periods Ended		Twenty-Six Week Periods Ended
	December 27, 2017	December 28, 2016	December 27, 2017	December 28, 2016
Basic weighted average shares outstanding	46,432	49,833	47,362	52,339
Dilutive stock options	95	223	89	235
Dilutive restricted shares	353	424	355	454
	448	647	444	689
Diluted weighted average shares outstanding	46,880	50,480	47,806	53,028

Awards excluded due to anti-dilutive effect on diluted net income per share	1,393	890	1,403	959