Net Income Per Common Share

3 Months Ended

Apr. 04, 2020

Earnings Per Share [Abstract]

Net Income Per Common Share

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 586 thousand anti-dilutive securities excluded from the calculation of weighted average shares outstanding for the three months ended April 4, 2020, and 263 thousand for the three months ended March 30, 2019.

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:

	Three Months Ended
	April 4,		March 30,
	2020		2019
	(in thousands, except per share amounts)
Net income	$	15,600	$	8,257
Weighted-average common shares - Basic		58,668		58,134
Add:  Dilutive effect of stock compensation plans		453		1,086
Weighted-average common shares - Diluted		59,121		59,220
Net income per common share:
Basic	$	0.27	$	0.14
Diluted	$	0.26	$	0.14