Earnings Per Share

6 Months Ended

Jul. 02, 2022

NOTE 13. 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				Six Months Ended
	July 2,		June 26,		July 2,		June 26,
	2022		2021		2022		2021
Numerator:
Net income	$	51,575	$	35,051	$	104,905	$	59,164
Denominator:
Basic earnings per share - weighted average shares outstanding		49,617		49,193		49,525		49,105
Effect of potential dilutive securities:
Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares		290		508		384		540
Diluted earnings per share - weighted average shares outstanding		49,907		49,701		49,909		49,645
Earnings per share:
Basic	$	1.04	$	0.71	$	2.12	$	1.20
Diluted	$	1.03	$	0.71	$	2.10	$	1.19