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Earnings Per Share:
 6 Months Ended
Jun. 25, 2011
Earnings Per Share:  
Earnings Per Share:

8.     Earnings Per Share:

 

The Company calculates earnings per share by dividing net income by the weighted average number of shares of common stock outstanding to arrive at the Earnings Per Share - Basic.  The Company calculates Earnings Per Share - Diluted by dividing net income by the weighted average number of shares of common stock and dilutive stock equivalents from the exercise of stock options using the treasury stock method.

 

The dilutive effect of stock options equivalent to 258,599 shares and 163,981 shares for the three months and 242,248 shares and 115,975 shares for the six months ended June 25, 2011 and June 26, 2010, respectively, were used in the calculation of Earnings Per Share - Diluted.  Options totaling 11,459 and 18,752 shares for the three months and 20,006 shares and 35,381 shares for the six months ended June 25, 2011 and June 26, 2010, respectively, were outstanding but were not included in the calculation of Earnings Per Share — Diluted because their exercise prices were greater than the average market price of the common shares and, therefore, including the options in the denominator would be anti-dilutive.