EARNINGS PER SHARE

6 Months Ended

Jun. 28, 2023

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 28, 2023 and June 29, 2022. 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 28, 2023		June 29, 2022		June 28, 2023		June 29, 2022
Numerator:
Net income	$	7,056	$	7,141	$	11,974	$	9,256
Denominator:
Weighted-average shares outstanding—basic		35,433,414		36,331,099		35,833,759		36,278,423
Weighted-average shares outstanding—diluted		35,534,104		36,473,960		36,018,288		36,478,808
Net income per share—basic	$	0.20	$	0.20	$	0.33	$	0.26
Net income per share—diluted	$	0.20	$	0.20	$	0.33	$	0.25
Anti-dilutive securities not considered in diluted EPS calculation		1,103,710		952,517		759,112		597,201

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	June 28, 2023	June 29, 2022	June 28, 2023	June 29, 2022
Weighted-average shares outstanding—basic	35,433,414	36,331,099	35,833,759	36,278,423
Dilutive effect of stock options and restricted shares	100,690	142,861	184,529	200,385
Weighted-average shares outstanding—diluted	35,534,104	36,473,960	36,018,288	36,478,808