EARNINGS PER SHARE ("EPS")

6 Months Ended

Oct. 02, 2021

7. EARNINGS PER SHARE

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)	October 2, 2021		September 26, 2020		October 2, 2021		September 26, 2020
Basic EPS
Net income	$	14,856	$	48,101	$	10,402	$	58,628
Weighted average shares	51,039		50,696		50,989		50,557
Basic income per share	$	0.29	$	0.95	$	0.20	$	1.16
Diluted EPS
Net income	$	14,856	$	48,101	$	10,402	$	58,628
Basic weighted average shares	51,039		50,696		50,989		50,557
Net effect of common stock equivalents	419		397		369		613
Diluted weighted average shares	51,458		51,093		51,358		51,170
Diluted income per share	$	0.29	$	0.94	$	0.20	$	1.15

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 and the convertible senior notes as determined under the net share settlement method. From the time of the issuance of the convertible senior notes, the average market price of the Company's common shares has been less than the initial conversion price, and consequently no shares have been included in diluted earnings per share for the conversion value of the convertible senior notes. For the three and six months ended October 2, 2021, weighted average shares outstanding, assuming dilution, excludes the impact of 0.9 million anti-dilutive shares. For the three and six

months ended September 26, 2020, weighted average shares outstanding, assuming dilution, excludes the impact of 0.8 million and 0.6 million anti-dilutive shares, respectively.