Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies

v2.4.0.8
Summary of Significant Accounting Policies
 6 Months Ended
Jun. 29, 2013
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Earnings per share
The following table represents the computation of basic and diluted earnings per common share (in thousands, except per share data):
 
 
Three Months Ended
 
Six Months Ended
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
Net income
$
11,790

 
$
11,247

 
$
21,365

 
$
21,870

Weighted average basic shares outstanding
26,236

 
25,937

 
26,185

 
25,861

Basic net income per common share
$
0.45

 
$
0.43

 
$
0.82

 
$
0.85

Effect of dilutive stock options
—

 
38

 
—

 
44

Weighted average diluted shares outstanding
26,236

 
25,975

 
26,185

 
25,905

Diluted net income per common share
$
0.45

 
$
0.43

 
$
0.82

 
$
0.84


Reclassification
Certificates of deposit classified as cash in the prior period were reclassified to marketable securities to conform to the current year presentation. Non-trade receivables classified as accounts receivable in the prior period were reclassified to other current assets to conform to the current year presentation.