NET INCOME PER SHARE

3 Months Ended

Aug. 30, 2024

Net income per share:

NET INCOME PER SHARE

11. NET INCOME PER SHARE

Basic net income per share is determined using the weighted average number of common shares outstanding during the period. Diluted net income per share is determined using the weighted average number of common shares and potential common shares (representing the hypothetical number of incremental shares issuable under the assumed exercise of outstanding stock options, and vesting of outstanding RSUs and ESPP shares) during the period using the treasury stock method. The calculation of dilutive shares outstanding excludes securities that would have an antidilutive effect on net income per share.

The following table presents the computation of basic and diluted net income per share: 

	Three Months Ended
	August 30,		August 31,
(In thousands, except per share data)	2024		2023
Numerator:
Net income	$	660	$	4,674
Denominator:
Basic weighted average shares outstanding		29,107		28,649
Dilutive effect of common equivalent shares outstanding		525		983
Diluted weighted average shares outstanding		29,632		29,632
Net income per share - Basic	$	0.02	$	0.16
Net income per share - Diluted	$	0.02	$	0.16
Antidilutive employee share-based awards, excluded		640		2