Basic and Diluted Net Income Per Share

6 Months Ended

Jul. 01, 2022

Note 12 — Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share (in thousands except per share amounts):

	Three Months Ended						Six Months Ended
	July 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
Numerator:
Net income	$	13,038		$	8,567		$	22,640		$	13,559
Denominator:
Weighted average common shares:
Common shares outstanding		47,893			47,102			47,826			46,861
Less: Unvested restricted stock		(4	)		(3	)		(4	)		(3	)
Denominator for basic calculation		47,889			47,099			47,822			46,858
Weighted average effects of potentially diluted common stock:
Stock options		1,299			2,283			1,386			2,405
Unvested restricted stock		3			9			2			9
RSUs		24			88			45			90
PSUs		8			12			9			11
Denominator for diluted calculation		49,223			49,491			49,264			49,373
Net income per share:
Basic	$	0.27		$	0.18		$	0.47		$	0.29
Diluted	$	0.26		$	0.17		$	0.46		$	0.27

The following table sets forth (in thousands) the weighted average number of options to purchase shares of common stock, restricted stock, RSUs and PSUs with either exercise prices or unrecognized compensation cost per share greater than the average market price per share of the Company’s common stock, which were not included in the calculation of diluted per share amounts because the effects would be anti-dilutive.

	Three Months Ended				Six Months Ended
	July 1, 2022		July 2, 2021		July 1, 2022		July 2, 2021
Stock options		1,153		14		862		173
Restricted stock, RSUs and PSUs		267		—		122		—
Total		1,420		14		984		173