Earnings Per Share

9 Months Ended

Sep. 28, 2024

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				Nine Months Ended
	September 28,		September 30,		September 28,		September 30,
	2024		2023		2024		2023
Numerator:
Net income	$	53,051	$	35,886	$	152,853	$	90,850
Denominator:
Basic earnings per share - weighted average shares outstanding		49,426		49,043		49,333		48,933
Effect of potential dilutive securities:
Restricted stock units and employee stock purchase grants - dilutive shares		268		358		336		326
Diluted earnings per share - weighted average shares outstanding		49,694		49,401		49,669		49,259
Earnings per share:
Basic	$	1.07	$	0.73	$	3.10	$	1.86
Diluted	$	1.07	$	0.73	$	3.08	$	1.84