COMPUTATION OF EARNINGS PER SHARE

The computation of basic earnings per share is based on net earnings divided by the weighted average number of shares of common stock outstanding for each period. The computation of diluted earnings per share reflects the common stock equivalency of dilutive options granted to employees under the Company's stock incentive plan, shares issuable on redemption of its convertible notes and shares issuable upon redemption of outstanding warrants.

15. COMPUTATION OF EARNINGS PER SHARE (CONTINUED)



	For the Three Months Ended
	March 29, 2019		March 30, 2018
In thousands, except per share amounts
Net earnings	$	14,125	$	14,066

Basic:
Weighted average number of shares outstanding	27,908		27,851
Basic earnings per share	$	0.51	$	0.51

Diluted:
Weighted average number of shares outstanding	27,908		27,851
Weighted average shares issuable on exercise of dilutive stock options	162		220
Weighted average shares issuable on redemption of warrants related to the 2017 Notes	—		97
Total	28,070		28,168

Diluted earnings per share	$	0.50	$	0.50

Equity awards

For the three-month fiscal periods ended March 29, 2019 and March 30, 2018, respectively, 385,232 and 199,510 shares issuable under equity awards granted to employees were excluded from the calculation of diluted earnings per share as they were anti-dilutive based on the average stock price during the period.

2024 Convertible Notes

For the three-month fiscal periods ended March 29, 2019 and March 30, 2018, shares issuable under the Convertible Notes due 2024 were excluded from the diluted earnings per share calculation because the conversion price was more than the average market price of the Company's stock during the periods.

Warrants

For the three-month fiscal period ended March 30, 2018, shares issuable under the warrants issued in connection with the Company's 2017 Notes were included in the calculation for diluted earnings per share as the strike price of the warrants was less than the average price of the Company's stock.