Note 19 - Computation of Earnings Per Share

6 Months Ended

Dec. 23, 2012

19. Computation of Earnings Per Share

The computation of basic and diluted earnings per share (“EPS”) was as follows:

	For the Three Months Ended					For the Six Months Ended
	December 23, 2012		December 25, 2011			December 23, 2012		December 25, 2011
Basic EPS
Net income (loss) attributable to Unifi, Inc.	$	2,426	$	(7,608	)	$	4,720	$	(7,322	)

Weighted average common shares outstanding		20,099		20,088			20,095		20,087
Basic EPS	$	0.12	$	(0.38	)	$	0.23	$	(0.36	)

Diluted EPS
Net income (loss) attributable to Unifi, Inc.	$	2,426	$	(7,608	)	$	4,720	$	(7,322	)

Weighted average common shares outstanding		20,099		20,088			20,095		20,087
Net potential common share equivalents – stock options and RSUs		554		¾			509		¾
Adjusted weighted average common shares outstanding		20,653		20,088			20,604		20,087
Diluted EPS	$	0.12	$	(0.38	)	$	0.23	$	(0.36	)

Excluded from the calculation of common share equivalents:
Anti-dilutive common share equivalents		272		1,251			272		1,251

Excluded from the calculation of diluted shares:
Unvested options that vest upon achievement of certain market conditions		567		567			567		567

The calculation of earnings per common share is based on the weighted average number of the Company’s common shares outstanding for the applicable period. The calculation of diluted earnings per common share presents the effect of all potential dilutive common shares that were outstanding during the respective period, unless the effect of doing so is anti-dilutive. Common share equivalents where the exercise price is above the average market price are excluded in the calculation of diluted earnings per common share.