EARNINGS PER SHARE

6 Months Ended

Jun. 26, 2024

EARNINGS PER SHARE

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 26, 2024 and June 28, 2023. 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 26, 2024		June 28, 2023		June 26, 2024		June 28, 2023
Numerator:
Net income	$	7,633	$	7,056	$	13,545	$	11,974
Denominator:
Weighted-average shares outstanding—basic		30,240,170		35,433,414		30,508,970		35,833,759
Weighted-average shares outstanding—diluted		30,378,048		35,534,104		30,661,830		36,018,288
Net income per share—basic	$	0.25	$	0.20	$	0.44	$	0.33
Net income per share—diluted	$	0.25	$	0.20	$	0.44	$	0.33
Anti-dilutive securities not considered in diluted EPS calculation		860,521		1,103,710		865,225		759,112

Below is a reconciliation of basic and diluted share counts:

	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	June 26, 2024	June 28, 2023	June 26, 2024	June 28, 2023
Weighted-average shares outstanding—basic	30,240,170	35,433,414	30,508,970	35,833,759
Dilutive effect of stock options and restricted shares	137,878	100,690	152,860	184,529
Weighted-average shares outstanding—diluted	30,378,048	35,534,104	30,661,830	36,018,288