NET INCOME PER SHARE

3 Months Ended

Sep. 27, 2023

Earnings Per Share [Abstract]

Net Income Per Share

Basic net income per share is computed by dividing Net income (loss) by the Basic weighted average shares outstanding for the reporting period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of Diluted net income per share, the Basic weighted average shares outstanding is increased by the dilutive effect of stock options and restricted share awards. Stock options and restricted share awards with an anti-dilutive effect are not included in the Diluted net income per share calculation. Basic weighted average shares outstanding are reconciled to Diluted weighted average shares outstanding as follows:

	Thirteen Week Periods Ended
	September 27, 2023	September 28, 2022
Basic weighted average shares outstanding	44.6	43.9
Dilutive stock options(1)	0.0	—
Dilutive restricted shares(1)	0.8	—
Total dilutive impact	0.8	—
Diluted weighted average shares outstanding	45.4	43.9
Awards excluded due to anti-dilutive effect	0.8	2.8

(1)    Due to the net loss for the thirteen week period ended September 28, 2022, zero incremental shares are included because the effect would be anti-dilutive.