Net Income Per Share

6 Months Ended

Jun. 28, 2020

Earnings Per Share [Abstract]

Net Income Per Share

Note 6. Net Income Per Share

Basic net income per share is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing the net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include common shares issuable upon exercise of stock options, vesting of restricted stock awards, and issuances of shares under the Employee Stock Purchase Plan (the "ESPP"), which are reflected in diluted net income per share by application of the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted net income per share when their effect is anti-dilutive.

Net income per share for the three and six months ended June 28, 2020 and June 30, 2019 are as follows:

	Three Months Ended				Six Months Ended
	June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
	(In thousands, except per share data)
Numerator:
Net income	$	5,983	$	839	$	1,810	$	13,682
Denominator:
Weighted average common shares - basic		29,617		31,246		29,608		31,365
Potentially dilutive common share equivalent		453		866		471		1,153
Weighted average common shares - dilutive		30,070		32,112		30,079		32,518
Basic net income per share	$	0.20	$	0.03	$	0.06	$	0.44
Diluted net income per share	$	0.20	$	0.03	$	0.06	$	0.42
Anti-dilutive employee stock-based awards, excluded		2,245		1,208		2,425		692