Earnings Per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

8. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated using the weighted-average number of shares of common stock outstanding during the thirteen weeks ended March 31, 2021 and March 25, 2020. Diluted EPS is calculated using the weighted-average number of shares of common stock outstanding and potentially dilutive during the period, using the treasury stock method.

Below are basic and diluted EPS data for the periods indicated (in thousands except for share and per share data):

	Thirteen Weeks Ended
	March 31, 2021		March 25, 2020
Numerator:
Net income	$	3,964	$	3,600
Denominator:
Weighted-average shares outstanding—basic		35,795,205		34,659,160
Weighted-average shares outstanding—diluted		36,424,068		35,347,456
Net income per share—basic	$	0.11	$	0.10
Net income per share—diluted	$	0.11	$	0.10
Anti-dilutive securities not considered in diluted EPS calculation		—		474,373

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended
	March 31, 2021	March 25, 2020
Weighted-average shares outstanding—basic	35,795,205	34,659,160
Dilutive effect of stock options and restricted shares	628,863	688,296
Weighted-average shares outstanding—diluted	36,424,068	35,347,456