Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
 9 Months Ended
Jun. 24, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
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
 
Nine Months Ended
 
 
June 24, 2017
 
June 24, 2017
 
 
Income
 
Shares
 
Per Share
 
Income

Shares

Per Share
Basic EPS:
 
 
 
 
 
 
 





     Net income available to common shareholders
 
$
32,248

 
50,507

 
$
0.64

 
$
74,569


50,084


$
1.49

Effect of dilutive securities:
 
 
 
 
 
 
 





     Options to purchase common stock
 

 
810

 
(0.01
)
 
—


1,080


(0.03
)
     Restricted shares
 

 
508

 
(0.01
)
 
—


605


(0.02
)
Diluted EPS:
 

 

 

 
—





     Net income available to common shareholders
 
$
32,248

 
51,825

 
$
0.62

 
$
74,569


51,769


$
1.44

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
June 25, 2016
 
June 25, 2016
 
 
Income

Shares

Per Share
 
Income

Shares

Per Share
Basic EPS:






 





     Net income available to common shareholders

$
26,030


49,120


$
0.53

 
$
50,125


48,801


$
1.03

Effect of dilutive securities:






 





     Options to purchase common stock



1,211


(0.01
)
 


1,201


(0.03
)
     Restricted shares



732


(0.01
)
 


741


(0.01
)
Diluted EPS:






 





     Net income available to common shareholders

$
26,030


51,063


$
0.51

 
$
50,125


50,743


$
0.99

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



Options to purchase 2.7 million shares of common stock at prices ranging from $6.43 to $31.76 per share were outstanding at June 24, 2017, and options to purchase 4.5 million shares of common stock at prices ranging from $6.43 to $15.56 per share were outstanding at June 25, 2016.

For the three months ended June 24, 2017, options to purchase 0.6 million shares of common stock 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 three months ended June 25, 2016, all options outstanding were included in the computation of diluted earnings per share.

For the nine month period ended June 24, 2017, options to purchase 0.6 million shares of common stock 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, 2016, all options outstanding were included in the computation of diluted earnings per share.