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Net Income Per Common Share
6 Months Ended
Jun. 29, 2018
Earnings Per Share [Abstract]  
Net Income Per Common Share

2. Net Income per Common Share

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. With regard to common stock subject to vesting requirements and restricted stock units issued to the Company’s employees and non-employee members of its Board of Directors, the calculation includes only the vested portion of such stock and units.

Diluted net income per common share is computed by dividing net income by the weighted average number of common shares outstanding, increased by the assumed conversion of other potentially dilutive securities during the period.

The following table reconciles basic and dilutive weighted average common shares:

 

 

 

Quarter Ended

 

 

Six Months Ended

 

 

 

June 29,

 

 

June 30,

 

 

June 29,

 

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Basic weighted average common shares outstanding

 

 

29,429,925

 

 

 

29,041,291

 

 

 

29,259,641

 

 

 

28,954,621

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested restricted stock units and common stock subject to vesting requirements issued to employees and non-employees

 

 

469,702

 

 

 

1,105,875

 

 

 

420,020

 

 

 

1,046,173

 

Common stock issuable upon the exercise of stock options and SARs

 

 

2,335,458

 

 

 

2,365,435

 

 

 

2,345,288

 

 

 

2,401,714

 

Dilutive weighted average common shares outstanding

 

 

32,235,085

 

 

 

32,512,601

 

 

 

32,024,949

 

 

 

32,402,508

 

 

Approximately 0.8 million shares of common stock equivalents were excluded from the computations of diluted net income per common share for both the quarter and six months ended June 29, 2018, as compared to 0.8 million and 0.7 million for the quarter and six months ended June 29, 2017, respectively, as their inclusion would have had an anti-dilutive effect on diluted net income per common share.