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Earnings Per Share (''EPS'')
 6 Months Ended
Dec. 28, 2014
Earnings Per Share [Abstract]  
Earnings Per Share (''EPS'')

Earnings Per Share (EPS)

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the potential dilutive common shares outstanding during the applicable period using the treasury stock method. Potential dilutive common shares include outstanding stock options and unvested restricted stock awards.

A reconciliation of the components of the basic and diluted per-share computations follows (in thousands, except per share amounts):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 28,
2014

 

 

December 29,
2013

 

 

December 28,
2014

 

 

December 29,
2013

 

Net Income Attributable to STRATTEC SECURITY CORPORATION

 

$

5,778

 

 

$

3,873

 

 

$

15,078

 

 

$

7,084

 

Less: Income Attributable to Participating Securities

 

 

71

 

 

 

69

 

 

 

191

 

 

 

129

 

Net Income Attributable to Common Shareholders

 

$

5,707

 

 

$

3,804

 

 

$

14,887

 

 

$

6,955

 

 

Basic Weighted Average Shares of Common Stock Outstanding

 

 

3,518

 

 

 

3,413

 

 

 

3,507

 

 

 

3,397

 

Incremental Shares – Stock based Compensation

 

 

94

 

 

 

74

 

 

 

96

 

 

 

76

 

Diluted Weighted Average Shares of Common Stock Outstanding

 

 

3,612

 

 

 

3,487

 

 

 

3,603

 

 

 

3,473

 

 

Basic Earnings Per Share

 

$

1.62

 

 

$

1.11

 

 

$

4.25

 

 

$

2.05

 

Diluted Earnings Per Share

 

$

1.58

 

 

$

1.09

 

 

$

4.13

 

 

$

2.00

 

 

 

We consider unvested restricted stock that provides the holder with a non-forfeitable right to receive dividends to be a participating security.

As of December 28, 2014, options to purchase 9,010 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.  As of December 29, 2013, options to purchase 67,340 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.