Net Income Per Common Share

9 Months Ended

Sep. 28, 2019

NOTE 7. NET INCOME PER COMMON SHARE

Basic earnings per share (“EPS”) is computed by dividing net income available to common shareholders, by the weighted-average number of common shares outstanding during the period. Diluted EPS reflects the dilutive effect of potential common shares from securities such as stock options.

There were 86 thousand anti-dilutive securities excluded from the calculation of weighted average shares outstanding for the three months ended September 28, 2019, and none for the three months ended September 29, 2018. There were 90 thousand anti-dilutive securities excluded from the calculation of weighted average shares outstanding for the nine months ended September 28, 2019, and none for the nine months ended September 29, 2018.

The table below presents the calculation of EPS and a reconciliation of weighted average common shares used in the calculation of basic and diluted EPS for our Company:

	Three Months Ended				Nine Months Ended
	September 28,		September 29,		September 28,		September 29,
	2019		2018		2019		2018
	(in thousands, except per share amounts)
Net income	$	15,106	$	13,571	$	40,408	$	43,459

Weighted-average common shares - Basic		58,433		51,682		58,320		50,619
Add: Dilutive effect of stock compensation plans		709		1,386		872		1,759

Weighted-average common shares - Diluted		59,142		53,068		59,192		52,378

Net income per common share:
Basic	$	0.26	$	0.26	$	0.69	$	0.86

Diluted	$	0.26	$	0.26	$	0.68	$	0.83