EARNINGS PER SHARE

6 Months Ended

Jun. 29, 2024

Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted income per share includes the effect of all potentially dilutive securities, which include dilutive stock options and other stock-based awards.

The following table sets forth the calculation of earnings per share and weighted-average common shares outstanding at the dates indicated (in thousands, except per share data):


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Net income	$	50,396	$	38,071	$	66,251	$	48,635

Weighted-average common shares outstanding—basic	84,794		86,677		85,575		86,603
Effect of dilutive securities	674		519		738		538
Weighted-average common shares outstanding—diluted	85,468		87,196		86,313		87,141

Earnings per share
Basic	$	0.59	$	0.44	$	0.77	$	0.56
Diluted	$	0.59	$	0.44	$	0.77	$	0.56

Effects of potentially dilutive securities are presented only in periods in which they are dilutive. For each of the three and six months ended June 29, 2024, outstanding stock-based awards representing 0.1 million shares of common stock were excluded from the calculation of diluted earnings per share, because their effect would be anti-dilutive. For the three and six months ended July 1, 2023, outstanding stock-based awards representing 0.2 million and 0.3 million shares of common stock, respectively, were excluded from the calculation of diluted earnings, because their effect would be anti-dilutive.