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Earnings Per Common Share
 9 Months Ended
Mar. 27, 2014
Earnings Per Share [Abstract]  
Earnings Per Common Share

Note 6 – Earnings Per Common Share

Basic earnings per common share are calculated using the weighted average number of shares of Common Stock and Class A Common Stock outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue Common Stock (i) were exercised or converted into Common Stock or (ii) resulted in the issuance of Common Stock. The following table presents the reconciliation of the weighted average shares outstanding used in computing basic and diluted earnings per share:

 

     For the Quarter Ended      For the Thirty-nine Weeks
Ended		  
     March 27,
2014		      March 28,
2013		      March 27,
2014		      March 28,
2013		  

Weighted average number of shares outstanding – basic

      11,073,669         10,898,304         11,016,926         10,844,341   

Effect of dilutive securities:

      

Stock options and restricted stock units

      82,560         126,434         99,565         129,688   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average number of shares outstanding – diluted

      11,156,229         11,024,738         11,116,491         10,974,029   
  

 

 

     

 

 

     

 

 

     

 

 

  

The following table presents a summary of anti-dilutive awards excluded from the computation of diluted earnings per share:

 

     For the Quarter Ended      For the Thirty-nine
Weeks Ended		  
     March 27,
2014		      March 28,
2013		      March 27,
2014		      March 28,
2013		  

Weighted average number of anti-dilutive shares:

      —           2,250         20,203         53,917   

Weighted average exercise price:

    $ —         $ 32.30       $ 25.36       $ 18.29