Earnings Per Share

9 Months Ended

Mar. 31, 2012

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)
	March 31, 2012		April 2, 2011
Net income	$	3,394	$	724
Weighted average shares outstanding—basic		10,447		10,353
Effect of dilutive common stock options		315		83

Weighted average shares outstanding—diluted		10,762		10,436

Earnings per share—basic	$	0.32	$	0.07
Earnings per share—diluted	$	0.32	$	0.07

Antidilutive options not included in diluted earnings per share		—		541


	Nine Months Ended
	(in thousands, except per share information)
	March 31, 2012		April 2, 2011
Net income	$	7,815	$	4,199
Weighted average shares outstanding—basic		10,437		10,332
Effect of dilutive common stock options		80		88

Weighted average shares outstanding—diluted		10,517		10,420

Earnings per share—basic	$	0.75	$	0.41
Earnings per share—diluted	$	0.74	$	0.40

Antidilutive options not included in diluted earnings per share		554		541

- Definition

The entire disclosure for earnings per share.

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