Earnings Per Share

9 Months Ended

Sep. 29, 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 and thirty-nine weeks ended September 29, 2021 and September 23, 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				Thirty-Nine Weeks Ended
	September 29, 2021		September 23, 2020		September 29, 2021		September 23, 2020
Numerator:
Net income	$	10,161	$	9,920	$	22,943	$	19,019
Denominator:
Weighted-average shares outstanding—basic		36,067,754		35,471,452		35,930,246		34,989,007
Weighted-average shares outstanding—diluted		36,525,424		36,064,559		36,457,110		35,609,320
Net income per share—basic	$	0.28	$	0.28	$	0.64	$	0.54
Net income per share—diluted	$	0.28	$	0.28	$	0.63	$	0.53
Anti-dilutive securities not considered in diluted EPS calculation		225,308		4,071		118,968		129,218

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended		Thirty-Nine Weeks Ended
	September 29, 2021	September 23, 2020	September 29, 2021	September 23, 2020
Weighted-average shares outstanding—basic	36,067,754	35,471,452	35,930,246	34,989,007
Dilutive effect of stock options and restricted shares	457,670	593,107	526,864	620,313
Weighted-average shares outstanding—diluted	36,525,424	36,064,559	36,457,110	35,609,320