EARNINGS PER SHARE (“EPS”)

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.



	Three Months Ended				Six Months Ended
(In thousands, except per share amounts)	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Basic EPS
Net income	$	18,726	$	20,102	$	15,907	$	40,239
Weighted average shares	51,605		52,619		51,862		52,531
Basic income per share	$	0.36	$	0.38	$	0.31	$	0.77
Diluted EPS
Net income	$	18,726	$	20,102	$	15,907	$	40,239
Basic weighted average shares	51,605		52,619		51,862		52,531
Net effect of common stock equivalents	1,533		362		1,503		365
Diluted weighted average shares	53,138		52,981		53,365		52,896
Diluted income per share	$	0.35	$	0.38	$	0.30	$	0.76

Basic earnings per share is calculated using the Company's weighted-average outstanding common stock. Diluted earnings per share is calculated using its weighted-average outstanding common stock including the dilutive effect of stock awards as determined under the treasury stock method. For the three and six months ended September 29, 2018, weighted average shares outstanding, assuming dilution, excludes the impact of 0.2 million and 0.1 million anti-dilutive shares, respectively. For the three and six months ended September 30, 2017, weighted average shares outstanding, assuming dilution, excludes the impact of 0.9 million and 0.8 million anti-dilutive shares, respectively.

Share Repurchase Plan

On February 6, 2018, the Company announced that its Board of Directors authorized the repurchase of up to $260 million of its outstanding common stock from time to time, based on market conditions, through March 30, 2019.

In May 2018, the Company completed a $100.0 million repurchase of its common stock pursuant to an accelerated share repurchase agreement ("ASR") entered into with Citibank N.A (“Citibank”) in February 2018. The total number of shares repurchased under the ASR was approximately 1.4 million at an average price per share upon final settlement of $72.51. In August 2018, the Company completed an additional $80.0 million repurchase of its common stock pursuant to an ASR entered into with Citibank in June 2018. The total number of shares repurchased under the ASR was approximately 0.9 million at an average price per share upon final settlement of $93.83.

As of September 29, 2018, the total remaining authorization for repurchases of the Company’s common stock under its share repurchase program was $80.0 million.