Earnings Per Share

9 Months Ended

Sep. 28, 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 thirty-nine weeks ended September 28, 2022 and September 29, 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				Thirty-Nine Weeks Ended
	September 28, 2022		September 29, 2021		September 28, 2022		September 29, 2021
Numerator:
Net income	$	5,009	$	10,161	$	14,265	$	22,943
Denominator:
Weighted-average shares outstanding—basic		36,402,899		36,067,754		36,329,938		35,930,246
Weighted-average shares outstanding—diluted		36,507,050		36,525,424		36,491,624		36,457,110
Net income per share—basic	$	0.14	$	0.28	$	0.39	$	0.64
Net income per share—diluted	$	0.14	$	0.28	$	0.39	$	0.63
Anti-dilutive securities not considered in diluted EPS calculation		1,434,825		225,308		944,183		118,968

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended		Thirty-Nine Weeks Ended
	September 28, 2022	September 29, 2021	September 28, 2022	September 29, 2021
Weighted-average shares outstanding—basic	36,402,899	36,067,754	36,329,938	35,930,246
Dilutive effect of stock options and restricted shares	104,151	457,670	161,686	526,864
Weighted-average shares outstanding—diluted	36,507,050	36,525,424	36,491,624	36,457,110