Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

 v2.3.0.11
Earnings Per Share
 9 Months Ended
Jun. 25, 2011
Earnings Per Share  
Earnings Per Share

9. Earnings Per Share

The following is a reconciliation of the numerators and denominators of the basic and diluted per share computations for income from continuing operations.

 

     Three Months Ended
June 25, 2011		     Nine Months Ended
June 25, 2011		  
     Income      Shares      Per Share     Income      Shares      Per Share  
     (in thousands, except per share amounts)  

Basic EPS:

                 

Net income available to common shareholders

    $ 17,081         54,020       $ 0.32      $ 39,255         57,635       $ 0.68   

Effect of dilutive securities:

                 

Options to purchase common stock

         300         (0.01 )         329         0   

Restricted shares

         178         0           151         0   

Diluted EPS:

                 
                                                    

Net income available to common shareholders

    $ 17,081         54,498       $ 0.31      $ 39,255         58,115       $ 0.68   
                                                    

 

     Three Months Ended
June 26, 2010		     Nine Months Ended
June 26, 2010		  
     Income      Shares      Per Share     Income (Loss)      Shares      Per Share  
     (in thousands, except per share amounts)  

Basic EPS:

                 

Net income available to common shareholders

    $ 25,873         63,810       $ 0.41      $ 54,599         64,879       $ 0.84   

Effect of dilutive securities:

                 

Options to purchase common stock

         665         (0.01 )         704         (0.01 ) 

Restricted shares

         131         0           133         0   

Diluted EPS:

                 
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Net income available to common shareholders

    $ 25,873         64,606       $ 0.40      $ 54,599         65,716       $ 0.83   
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Options to purchase 12.6 million shares of common stock at prices ranging from $4.60 to $17.99 per share were outstanding at June 25, 2011 and options to purchase 11.3 million shares of common stock at prices ranging from $4.26 to $17.99 per share were outstanding at June 26, 2010.

For the three month periods ended June 25, 2011 and June 26, 2010, options to purchase 9.4 and 7.9 million shares of common stock, respectively, were outstanding but were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect would be anti-dilutive.

For the nine month period ended June 25, 2011 and June 26, 2010, options to purchase 8.0 and 7.7 million shares of common stock, respectively, were outstanding but were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect would be anti-dilutive.