Net Income Per Common Share

6 Months Ended

Jul. 04, 2020

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 628 thousand anti-dilutive securities excluded from the calculation of weighted average shares outstanding for the three months ended July 4, 2020, and 4 thousand for the three months ended June 29, 2019. There were 586 thousand anti-dilutive securities excluded from the calculation of weighted average shares outstanding for the six months ended July 4, 2020, and 254 thousand for the six months ended June 29, 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				Six Months Ended
	July 4,		June 29,		July 4,		June 29,
	2020		2019		2020		2019
	(in thousands, except per share amounts)
Net income	$	2,199	$	17,045	$	17,799	$	25,302

Weighted-average common shares - Basic		58,943		58,394		58,806		58,264
Add: Dilutive effect of stock compensation plans		197		897		341		984

Weighted-average common shares - Diluted		59,140		59,291		59,147		59,248

Net income per common share:
Basic	$	0.04	$	0.29	$	0.30	$	0.43

Diluted	$	0.04	$	0.29	$	0.30	$	0.43