Earnings Per Share

9 Months Ended

Sep. 26, 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				Nine Months Ended
	September 26,		September 30,		September 26,		September 30,
	2020		2019		2020		2019
Restricted stock units		4		56		23		92
Total		4		56		23		92

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

	Three Months Ended				Nine Months Ended
	September 26,		September 30,		September 26,		September 30,
	2020		2019		2020		2019
Numerator:
Net income	$	8,091	$	6,560	$	11,111	$	19,662
Denominator:
Basic earnings per share - weighted average shares outstanding		48,900		25,079		49,231		25,012
Effect of potential dilutive securities:
Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares		231		226		320		242
Diluted earnings per share - weighted average shares outstanding		49,131		25,305		49,551		25,254
Earnings per share:
Basic	$	0.17	$	0.26	$	0.23	$	0.79
Diluted	$	0.16	$	0.26	$	0.22	$	0.78