Income per Share

6 Months Ended

Jun. 28, 2015

Note 4: Income per Share

The following table presents the basis for the income per share computations:


	Three Months Ended				Six Months Ended
	June 28, 2015		June 29, 2014		June 28, 2015		June 29, 2014
	(In thousands)
Numerator:
Income from continuing operations	$	21,677	$	15	$	2,041	$	25,171
Loss from disposal of discontinued operations, net of tax		(86)		-		(86)		(562)

Net income	$	21,591	$	15	$	1,955	$	24,609

Denominator:
Weighted average shares outstanding, basic		42,655		43,603		42,596		43,559
Effect of dilutive common stock equivalents		578		689		628		734

Weighted average shares outstanding, diluted		43,233		44,292		43,224		44,293

For the three and six months ended June 28, 2015, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million and 0.3 million, respectively, because to do so would have been anti-dilutive. For the three and six months ended June 29, 2014, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million and 0.1 million, because to do so would have been anti-dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.