Basic net income per share represents net income divided by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share represents net income divided by the weighted average number of shares of common stock and common stock equivalents, if applicable, outstanding during the period. Common stock equivalents arise from stock options and unvested shares of restricted stock, using the treasury stock method. Under the treasury stock method, the amount the Company would receive upon exercise of stock options and the vesting of restricted stock, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax benefits that would be recorded in common stock when the stock options or restricted stock becomes deductible are assumed to be used to repurchase shares at the average share price over the applicable fiscal period. A reconciliation of basic to diluted weighted average shares of common stock outstanding is as follows (in thousands):

	Quarter Ended				Fiscal Year to Date Period Ended

	June 30, 2012		July 2, 2011		June 30, 2012		July 2, 2011
Basic weighted average shares outstanding		10,242		10,650		10,279		10,632
Common stock equivalents:
Stock options and restricted shares		139		170		160		178

Diluted weighted average shares outstanding		10,381		10,820		10,439		10,810

For the second quarter and fiscal year to date period ended June 30, 2012, certain share-based awards, which amounted to 1,190,676 and 1,214,086 shares, respectively, were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding because they were anti-dilutive. For the second quarter and fiscal year to date period ended July 2, 2011, certain share-based awards, which amounted to 977,434 and 1,001,316 shares, respectively, were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding because they were anti-dilutive. These share-based awards were anti-dilutive because their exercise price exceeded the average market price for the respective period.

On August 30, 2011, the Company announced that its Board of Directors approved a share repurchase program of up to $7.5 million of the Company's common stock. On February 22, 2012, the Board of Directors authorized the repurchase of up to an additional $4.45 million of the Company's common stock under this program. During the second quarter of fiscal 2012, the Company repurchased 129,785 shares under this program at an average price per share of $19.83. During the fiscal year to date period ended June 30, 2012, the Company repurchased 252,585 shares under this program at an average price per share of $22.28. As of June 30, 2012, $2.1 million was available for future repurchases under this program.