EARNINGS PER SHARE

9 Months Ended

Jun. 27, 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.

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 the three and nine months ended June 27, 2015 and June 28, 2014:



	Three months ended
(in thousands, except per share)	June 27, 2015				June 28, 2014
	Basic		Diluted		Basic		Diluted
NUMERATOR:
Net income	$	25,039	$	25,039	$	26,616	$	26,616
Less: income applicable to participating securities	—		—		—		—
Net income applicable to common shareholders	$	25,039	$	25,039	$	26,616	$	26,616
DENOMINATOR:
Weighted average shares outstanding - Basic	75,420		75,420		76,596		76,596
Stock options			67				117
Time-based restricted stock			336				442
Market-based restricted stock			68				450
Weighted average shares outstanding - Diluted			75,891				77,605
EPS:
Net income per share - Basic	$	0.33	$	0.33	$	0.35	$	0.35
Effect of dilutive shares			—				(0.01		)
Net income per share - Diluted			$	0.33			$	0.34



	Nine months ended
(in thousands, except per share data)	June 27, 2015				June 28, 2014
	Basic		Diluted		Basic		Diluted
NUMERATOR:
Net income	$	40,812	$	40,812	$	33,729	$	33,729
Less: income applicable to participating securities	—		—		—		—
Net income applicable to common shareholders	$	40,812	$	40,812	$	33,729	$	33,729
DENOMINATOR:
Weighted average shares outstanding - Basic	76,376		76,376		76,308		76,308
Stock options			84				114
Time-based restricted stock			269				345
Market-based restricted stock			49				319
Weighted average shares outstanding - Diluted			76,778				77,086
EPS:
Net income per share - Basic	$	0.53	$	0.53	$	0.44	$	0.44
Effect of dilutive shares			—				—
Net income per share - Diluted			$	0.53			$	0.44