EARNINGS PER SHARE

9 Months Ended

Jul. 02, 2016

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.

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 July 2, 2016 and June 27, 2015:



	Three months ended
(in thousands, except per share)	July 2, 2016				June 27, 2015
	Basic		Diluted		Basic		Diluted
NUMERATOR:
Net income	$	31,785	$	31,785	$	25,039	$	25,039
DENOMINATOR:
Weighted average shares outstanding - Basic	70,379		70,379		75,420		75,420
Stock options			32				67
Time-based restricted stock			331				336
Market-based restricted stock			101				68
Weighted average shares outstanding - Diluted			70,843				75,891
EPS:
Net income per share - Basic	$	0.45	$	0.45	$	0.33	$	0.33
Effect of dilutive shares			—				—
Net income per share - Diluted			$	0.45			$	0.33



	Nine months ended
(in thousands, except per share data)	July 2, 2016				June 27, 2015
	Basic		Diluted		Basic		Diluted
NUMERATOR:
Net income	$	36,783	$	36,783	$	40,812	$	40,812
DENOMINATOR:
Weighted average shares outstanding - Basic	70,502		70,502		76,376		76,376
Stock options			30				84
Time-based restricted stock			196				269
Market-based restricted stock			74				49
Weighted average shares outstanding - Diluted			70,802				76,778
EPS:
Net income per share - Basic	$	0.52	$	0.52	$	0.53	$	0.53
Effect of dilutive shares			—				—
Net income per share - Diluted			$	0.52			$	0.53