Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
9 Months Ended
Jun. 28, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
11. 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 28, 2014
    Nine Months Ended
June 28, 2014
 
     Income      Shares      Per Share     Income      Shares      Per Share  
     (in thousands, except per share amounts)  

Basic EPS:

                

Net income available to common shareholders

   $ 4,687         49,148       $ 0.10      $ 12,874         48,732       $ 0.26   

Effect of dilutive securities:

                

Options to purchase common stock

        154         0           35         0   

Restricted shares

        539         (0.01        434         0   

Diluted EPS:

                
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Net income available to common shareholders

   $ 4,687         49,841       $ 0.09      $ 12,874         49,201       $ 0.26   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

 

     Three Months Ended
June 29, 2013
     Nine Months Ended
June 29, 2013
 
     Income      Shares      Per Share      Income      Shares      Per Share  
     (in thousands, except per share amounts)  

Basic EPS:

                 

Net income available to common shareholders

   $ 13,725         48,173       $ 0.28       $ 20,652         48,037       $ 0.43   

Effect of dilutive securities:

                 

Options to purchase common stock

        141         0            284         0   

Restricted shares

        508         0            445         (0.01

Diluted EPS:

                 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net income available to common shareholders

   $ 13,725         48,822       $ 0.28       $ 20,652         48,766       $ 0.42   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Options to purchase 11.2 million shares of common stock at prices ranging from $6.43 to $16.23 per share were outstanding at June 28, 2014 and options to purchase 11.6 million shares of common stock at prices ranging from $4.60 to $16.23 per share were outstanding at June 29, 2013.

For the three month periods ended June 28, 2014 and June 29, 2013, options to purchase 9.5 million and 10.7 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.

For the nine month periods ended June 28, 2014 and June 29, 2013, options to purchase 10.3 million and 7.5 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.