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Earnings Per Share
6 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share

6. Earnings Per Share

Basic earnings per share (EPS) is calculated by dividing net income (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Diluted EPS is computed by including both the weighted-average number of shares outstanding and any dilutive common share equivalents in the denominator. The following table presents a reconciliation of the denominator and the number of antidilutive common share awards that were not included in the diluted earnings per share calculation. These antidilutive securities occur when equity awards outstanding have an option price greater than the average market price for the period:

 

     Three Months Ended  
     (in thousands, except per share information)  
     December 31, 2011      January 1, 2011  

Net income

   $ 3,174       $ 1,733   

Weighted average shares outstanding - basic

     10,447         10,345   

Effect of dilutive common stock options

     32         103   
  

 

 

    

 

 

 

Weighted average shares outstanding - diluted

     10,479         10,448   
  

 

 

    

 

 

 

Earnings per share - basic

   $ 0.30       $ 0.17   

Earnings per share - diluted

   $ 0.30       $ 0.17   
  

 

 

    

 

 

 

Antidilutive options not included in diluted earnings per share

     707         541   

 

     Six Months Ended  
     (in thousands, except per share information)  
     December 31, 2011      January 1, 2011  

Net income

   $ 4,421       $ 3,475   

Weighted average shares outstanding - basic

     10,432         10,321   

Effect of dilutive common stock options

     30         99   
  

 

 

    

 

 

 

Weighted average shares outstanding - diluted

     10,462         10,420   
  

 

 

    

 

 

 

Earnings per share - basic

   $ 0.42       $ 0.34   

Earnings per share - diluted

   $ 0.42       $ 0.33   
  

 

 

    

 

 

 

Antidilutive options not included in diluted earnings per share

     707         541