Earnings Per Share

3 Months Ended

Apr. 01, 2023

NOTE 12. Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock units, employee stock purchase grants and stock options are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive.

The Company’s basic and diluted earnings per share amounts are as follows:


	Three Months Ended
	April 1,		April 2,
	2023		2022
Numerator:
Net income	$	29,068	$	53,330
Denominator:
Basic earnings per share - weighted average shares outstanding		48,788		49,437
Effect of potential dilutive securities:
Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares		321		478
Diluted earnings per share - weighted average shares outstanding		49,109		49,915
Earnings per share:
Basic	$	0.60	$	1.08
Diluted	$	0.59	$	1.07