Earnings Per Share

3 Months Ended

Mar. 30, 2022

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 30, 2022 and March 31, 2021. 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 30, 2022		March 31, 2021
Numerator:
Net income	$	2,115	$	3,964
Denominator:
Weighted-average shares outstanding—basic		36,225,747		35,795,205
Weighted-average shares outstanding—diluted		36,480,354		36,424,068
Net income per share—basic	$	0.06	$	0.11
Net income per share—diluted	$	0.06	$	0.11
Anti-dilutive securities not considered in diluted EPS calculation		305,632		—

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended
	March 30, 2022	March 31, 2021
Weighted-average shares outstanding—basic	36,225,747	35,795,205
Dilutive effect of stock options and restricted shares	254,607	628,863
Weighted-average shares outstanding—diluted	36,480,354	36,424,068