EARNINGS PER SHARE

9 Months Ended

Sep. 27, 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 thirty-nine weeks ended September 27, 2023 and September 28, 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				Thirty-Nine Weeks Ended
	September 27, 2023		September 28, 2022		September 27, 2023		September 28, 2022
Numerator:
Net income	$	9,229	$	5,009	$	21,203	$	14,265
Denominator:
Weighted-average shares outstanding—basic		33,412,674		36,402,899		35,026,731		36,329,938
Weighted-average shares outstanding—diluted		33,490,004		36,507,050		35,179,483		36,491,624
Net income per share—basic	$	0.28	$	0.14	$	0.61	$	0.39
Net income per share—diluted	$	0.28	$	0.14	$	0.60	$	0.39
Anti-dilutive securities not considered in diluted EPS calculation		1,216,015		1,434,825		790,077		944,183

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended		Thirty-Nine Weeks Ended
	September 27, 2023	September 28, 2022	September 27, 2023	September 28, 2022
Weighted-average shares outstanding—basic	33,412,674	36,402,899	35,026,731	36,329,938
Dilutive effect of stock options and restricted shares	77,330	104,151	152,752	161,686
Weighted-average shares outstanding—diluted	33,490,004	36,507,050	35,179,483	36,491,624