Net Income Per Share

3 Months Ended

Apr. 02, 2022

14. NET INCOME PER SHARE

Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding for the period. Diluted net income per share is calculated by dividing net income by the diluted weighted average number of shares of common stock outstanding for the period. For purposes of this calculation, outstanding stock options are considered potential dilutive shares of common stock. The following is a computation of basic and diluted net income per share (amounts in thousands, except per share amounts):


	For the three-month periods ended
	April 2, 2022		April 3, 2021
Numerator:
Net income	$	25,334	$	5,798
Denominator:
Weighted average shares of common stock outstanding (1), basic		184,927		142,123
Net income per share, basic	$	0.14	$	0.04

Weighted average shares of common stock outstanding (1), diluted		185,427		146,266
Net income per share, diluted	$	0.14	$	0.04
Dilutive securities outstanding not included in the computation of diluted net income per share as their effect is antidilutive:
RSUs		4,394		-
PSUs		1,390		-
Stock options		9,347		7,479

(1)

The calculation of weighted average shares of common stock outstanding includes all vested deferred restricted stock units.