Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies

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Summary of Significant Accounting Policies
 9 Months Ended
Sep. 29, 2012
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     Nine Months Ended  
    September 29, 2012     October 1, 2011     September 29, 2012     October 1, 2011  
         

Net income

   $ 8,835     $  11,394     $  30,704     $  31,604  

Weighted average basic shares outstanding

     25,989       25,652       25,904       25,613  

Basic net income per common share

   $ 0.34     $ 0.44     $ 1.19     $ 1.23  

Effect of dilutive stock options

     10       49       32       40  

Weighted average diluted shares outstanding

     25,999       25,701       25,937       25,653  

Diluted net income per common share

   $ 0.34     $ 0.44     $ 1.18     $ 1.23  

Reclassification

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