Quarterly report pursuant to Section 13 or 15(d)

Common Stock And Earnings Per Share

v2.4.0.8
Common Stock And Earnings Per Share
 3 Months Ended
Mar. 29, 2014
Common Stock And Earnings Per Share [Abstract]  
Common Stock And Earnings Per Share

NOTE H — COMMON STOCK AND 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 based on the time they were outstanding in any period. 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.

 

The following is a reconciliation of the numerator and denominator used to calculate basic earnings per share and diluted earnings per share for the periods indicated:

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

 

March 30,

 

March 29,

 

 

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings available to common shareholders

 

$             17,779

 

$             16,537

 

 

 

 

 

 

 

Basic EPS

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

 

 

Common shares outstanding entire period

 
13,821 

 
13,886 

 

Weighted average common shares:

 

 

 

 

 

Issued during period

 
10 

 
33 

 

Canceled during period

 
(188)

 

 -

 

 

 

 

 

 

 

Weighted average common shares outstanding during

 

 

 

 

 

period

 
13,643 

 
13,919 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share from net earnings - basic

 

$                1.30

 

$                1.19

 

 

 

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

 

 

Weighted average common shares outstanding during

 

 

 

 

 

period - basic

 
13,643 

 
13,919 

 

 

 

 

 

 

 

Dilutive effect of in-the-money equity awards

 
260 

 
476 

 

 

 

 

 

 

 

Weighted average common shares outstanding during

 

 

 

 

 

period - diluted

 
13,903 

 
14,395 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share from net earnings - diluted

 

$                1.28

 

$                1.15

 

 

 

 

 

 

 

 

 

Equity awards for 1,085 and 273 shares of stock were not included in the computation of diluted EPS for the quarters ended March 30, 2013, and March 29, 2014, respectively, due to the fact that their effect would be anti-dilutive.