Earnings Per Share
 6 Months Ended
Jun. 26, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects potential dilution that could occur if securities to issue common stock were exercised or converted into common stock. Diluted EPS includes the dilutive effect of share-based compensation outstanding after application of the treasury stock method. For the three and six months ended June 26, 2015, less than 0.1 million shares were not included in diluted EPS due to their anti-dilutive effects.

 
Three Months Ended
 
Six Months Ended
 
 
June 26,
 
June 28,
 
June 26,
 
June 28,
(In thousands)
 
2015
 
2014
 
2015
 
2014
Net income
 
$
6,020

 
$
6,132

 
$
10,985

 
$
17,367


 

 

 

 

 Weighted average common shares outstanding ¹
 
10,548

 
10,474

 
10,520

 
10,474

Dilutive effect of share-based compensation outstanding after application of the treasury stock method
 
256

 
—

 
269

 
—

Diluted weighted average common shares outstanding ¹
 
10,804

 
10,474

 
10,789

 
10,474

 
 
 
 
 
 
 
 
 
Earnings per share
 

 

 

 

Basic
 
$
0.57

 
$
0.59

 
$
1.04

 
$
1.66

Diluted
 
$
0.56

 
$
0.59

 
$
1.02

 
$
1.66

 
 
 
 
 
 
 
 
 
¹ For periods ended September 27, 2014 and prior, basic and diluted earnings per share are computed using the number of shares of Vectrus common stock outstanding on September 27, 2014, the date on which the Vectrus common stock was distributed to the shareholders of Exelis Inc.