Earnings Per Share

6 Months Ended

Jun. 29, 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 and twenty-six weeks ended June 29, 2022 and June 30, 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				Twenty-Six Weeks Ended
	June 29, 2022		June 30, 2021		June 29, 2022		June 30, 2021
Numerator:
Net income	$	7,141	$	8,818	$	9,256	$	12,782
Denominator:
Weighted-average shares outstanding—basic		36,331,099		35,927,781		36,278,423		35,861,493
Weighted-average shares outstanding—diluted		36,473,960		36,416,686		36,478,808		36,423,394
Net income per share—basic	$	0.20	$	0.25	$	0.26	$	0.36
Net income per share—diluted	$	0.20	$	0.24	$	0.25	$	0.35
Anti-dilutive securities not considered in diluted EPS calculation		952,517		138,117		597,201		65,798

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	June 29, 2022	June 30, 2021	June 29, 2022	June 30, 2021
Weighted-average shares outstanding—basic	36,331,099	35,927,781	36,278,423	35,861,493
Dilutive effect of stock options and restricted shares	142,861	488,905	200,385	561,901
Weighted-average shares outstanding—diluted	36,473,960	36,416,686	36,478,808	36,423,394