Earnings Per Share

3 Months Ended

Mar. 30, 2024

Basic earnings per share was calculated by dividing our net income by the weighted average number of common shares outstanding during the period, excluding unvested RSAs which are considered to be contingently issuable. To calculate diluted earnings per share, common share equivalents are added to the weighted average number of common shares outstanding. Common share

equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards.

For the three months ended March 30, 2024 and April 1, 2023, there were approximately 319,000 shares and 237,000 shares, respectively, that were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive.

The following table sets forth the computation of basic earnings per share and diluted earnings per share:


	Three Months Ended
(in thousands, except per share data)	March 30, 2024		April 1, 2023

Net income	$	32,828	$	5,683
Denominator:
Weighted average basic shares outstanding	31,140		31,436
Effect of stock-based compensation awards	110		101
Weighted average diluted shares outstanding	31,250		31,537
Earnings Per Share:
Basic	$	1.05	$	0.18
Diluted	$	1.05	$	0.18