Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 12 Months Ended
Dec. 29, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE N – EARNINGS PER SHARE

     Basic earnings per share are based on the weighted-average number of shares outstanding for each period. Shares that have been repurchased and retired during the periods specified below have been included in the calculation of the number of weighted-average shares that are outstanding for the calculation of basic earnings per share. Diluted earnings per common share are based on shares that are outstanding (computed under basic EPS) and on potentially dilutive shares. Shares that are included in the diluted earnings per share calculations under the treasury stock method include equity awards that are in-the-money but have not yet been exercised.

          Year ended        
    2010     2011     2012  
 
Net earnings available to common shareholders $ 45,651   $ 50,752   $ 66,433  
Basic EPS                  
Shares                  
Common shares outstanding entire period   15,309     15,985     14,940  
Weighted average common shares:                  
Issued during period   311     32     199  
Canceled during period   (92 )   (656 )   (592 )
Weighted average common shares outstanding during                  
period   15,528     15,361     14,547  
 
Earnings per common share from net earnings - basic $ 2.94   $ 3.30   $ 4.57  
Diluted EPS                  
Shares                  
Weighted average common shares outstanding during                  
period - basic   15,528     15,361     14,547  
Dilutive effect of in-the-money equity awards   414     213     376  
Weighted average common shares outstanding during                  
period - diluted   15,942     15,574     14,923  
 
Earnings per common share from net earnings - diluted $ 2.86   $ 3.26   $ 4.45  

 

Equity awards for 1,806 shares, 2,773 shares, and 1,039 shares of stock were not included in the computation of EPS for the years ended 2010, 2011, and 2012, respectively, due to the fact that their effect would be anti-dilutive.

     During the years ended January 1, 2011, December 31, 2011, and December 29, 2012, the Company expended $17,031, $33,459, and $68,294 to purchase 387 shares, 1,120 shares, and 1,644 shares, respectively, under the Company's share repurchase plan. The purchase of shares under this plan reduces the number of shares outstanding in the above calculations.