Net Income Per Common Share

9 Months Ended

Oct. 03, 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 no anti-dilutive securities excluded from the calculation of weighted average shares outstanding for the three months ended October 3, 2020, and 86 thousand for the three months ended September 28, 2019. There were 4 thousand anti-dilutive securities excluded from the calculation of weighted average shares outstanding for the nine months ended October 3, 2020, and 90 thousand for the nine months ended September 28, 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				Nine Months Ended
	October 3,		September 28,		October 3,		September 28,
	2020		2019		2020		2019
	(in thousands, except per share amounts)
Net income	$	17,322	$	15,106	$	35,121	$	40,408

Weighted-average common shares - Basic		58,963		58,433		58,858		58,320
Add: Dilutive shares from equity plans		479		709		433		872

Weighted-average common shares - Diluted		59,442		59,142		59,291		59,192

Net income per common share:
Basic	$	0.29	$	0.26	$	0.60	$	0.69

Diluted	$	0.29	$	0.26	$	0.59	$	0.68