Earnings Per Share

3 Months Ended

Mar. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

10. Earnings Per Share

Basic earnings per share is calculated by dividing our net income by the weighted average number of common shares outstanding during the period, excluding nonvested restricted stock which is 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. Stock-based awards of 114,000 shares and 197,000 shares were excluded from the calculation of diluted earnings per share as of March 30, 2019 and March 31, 2018, respectively, as their effect would have been anti-dilutive.

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

	Thirteen Weeks Ended
(in thousands, except per share data)	March 30, 2019		March 31, 2018
Numerator
Net income	$	23,407	$	30,647
Denominator:
Weighted average basic shares outstanding		32,801		32,917
Effect of stock-based compensation awards		88		86
Weighted average diluted shares outstanding		32,889		33,003
Earnings Per Share:
Basic	$	0.71	$	0.93
Diluted	$	0.71	$	0.93