EARNINGS PER SHARE

12 Months Ended

Oct. 03, 2015

Basic income per share is calculated using the weighted average number of shares of common stock outstanding during the period. Stock options and restricted stock are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. In addition, net income applicable to participating securities and the related participating securities are excluded from the computation of basic income per share.

Diluted income per share is calculated using the weighted average number of shares of common stock outstanding during the period and, if there is net income during the period, the dilutive impact of common stock equivalents outstanding during the period.

The following tables reflect a reconciliation of the shares used in the basic and diluted net income per share computation for fiscal 2015, 2014, and 2013:



	Fiscal
(in thousands, except per share)	2015				2014					2013
	Basic		Diluted		Basic		Diluted			Basic		Diluted
NUMERATOR:
Net income	$	50,639	$	50,639	$	62,988	$	62,988		$	59,358	$	59,358
Less: income applicable to participating securities	—		—		—		—			—		—
Net income applicable to common shareholders	$	50,639	$	50,639	$	62,988	$	62,988		$	59,358	$	59,358
DENOMINATOR:
Weighted average shares outstanding - Basic	75,414		75,414		76,396		76,396			75,132		75,132
Stock options			70				117					110
Time-based restricted stock			175				398					512
Market-based restricted stock			—				381					436
Weighted average shares outstanding - Diluted			75,659				77,292					76,190
EPS:
Net income per share - Basic	$	0.67	$	0.67	$	0.82	$	0.82		$	0.79	$	0.79
Effect of dilutive shares			—				$	(0.01	)			$	(0.01	)
Net income per share - Diluted			$	0.67			$	0.81				$	0.78