Earnings Per Share

6 Months Ended

Jun. 27, 2020

NOTE 14. Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed in the same manner and also gives effect to all dilutive common stock equivalent shares outstanding during the period. Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive. In accordance with U.S. GAAP, these shares were not included in calculating diluted earnings per share.

The following table sets forth the weighted average number of restricted stock units that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive:

	Three Months Ended				Six Months Ended
	June 27,		June 30,		June 27,		June 30,
	2020		2019		2020		2019
Restricted stock units		52		52		59		110
Total		52		52		59		110

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

	Three Months Ended				Six Months Ended
	June 27,		June 30,		June 27,		June 30,
	2020		2019		2020		2019
Numerator:
Net income	$	7,424	$	5,526	$	3,020	$	13,102
Denominator:
Basic earnings per share - weighted average shares outstanding		48,736		25,032		49,417		24,977
Effect of potential dilutive securities:
Employee stock options and restricted stock units - dilutive shares		278		218		365		250
Diluted earnings per share - weighted average shares outstanding		49,014		25,250		49,782		25,227
Earnings per share:
Basic	$	0.15	$	0.22	$	0.06	$	0.52
Diluted	$	0.15	$	0.22	$	0.06	$	0.52