Earnings Per Share

9 Months Ended

Oct. 01, 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				Nine Months Ended
	October 1,		September 25,		October 1,		September 25,
	2022		2021		2022		2021
Numerator:
Net income	$	52,215	$	36,448	$	157,120	$	95,612
Denominator:
Basic earnings per share - weighted average shares outstanding		49,680		49,361		49,582		49,190
Effect of potential dilutive securities:
Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares		269		401		346		494
Diluted earnings per share - weighted average shares outstanding		49,949		49,762		49,928		49,684
Earnings per share:
Basic	$	1.05	$	0.74	$	3.17	$	1.94
Diluted	$	1.05	$	0.73	$	3.15	$	1.92