Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies

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Summary of Significant Accounting Policies
 3 Months Ended
Mar. 30, 2013
Summary of Significant Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2. 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  
    March 30, 2013     March 31, 2012  
     

Net income

   $ 9,575     $ 10,623  

Weighted average basic shares outstanding

     26,131       25,785  

Basic net income per common share

   $ 0.37     $ 0.41  

Effect of dilutive stock options

     1       49  

Weighted average diluted shares outstanding

     26,132       25,834  

Diluted net income per common share

   $ 0.37     $ 0.41  

Reclassification

Certificates of deposit classified as cash in the prior period were reclassified to marketable securities to conform to the current year presentation.