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NET INCOME PER SHARE
 12 Months Ended
Apr. 27, 2014
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
14. NET INCOME PER SHARE

Basic net income per share is computed using the weighted-average number of shares outstanding during the period. Diluted net income per share uses the weighted-average number of shares outstanding during the period plus the dilutive effect of stock-based compensation calculated using the treasury stock method. Weighted average shares used in the computation of basic and diluted net income per share are as follows:

(in thousands)
2014
2013
2012
weighted-average common
shares outstanding, basic
 12,177 12,235 12,711
dilutive effect of stock-based compensation
 237 215 155
weighted-average common
shares outstanding, diluted
 12,414 12,450 12,866
 
All options to purchase shares of common stock were included in the computation of diluted net income for fiscal years 2014 and 2013, as the exercise price of the options was less than the average market price of common shares.
 
Options to purchase 24,750 shares of common stock were not included in the computation of diluted net loss per share for fiscal 2012 as the exercise price of the options were greater than the average market price of the common shares.
 
The computation of basic net income did not include 61,668, 123,335, and 185,000 shares of time vested restricted common stock as these shares were unvested for fiscal 2014, 2013, and 2012, respectively.