Earnings Per Share

6 Months Ended

Jun. 29, 2024

NOTE 12. Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock units, employee stock purchase grants and stock options are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive.

The Company’s basic and diluted earnings per share amounts are as follows:


	Three Months Ended				Six Months Ended
	June 29,		July 1,		June 29,		July 1,
	2024		2023		2024		2023
Numerator:
Net income	$	52,949	$	25,896	$	99,802	$	54,964
Denominator:
Basic earnings per share - weighted average shares outstanding		49,342		48,976		49,286		48,865
Effect of potential dilutive securities:
Restricted stock units and employee stock purchase grants - dilutive shares		332		298		370		310
Diluted earnings per share - weighted average shares outstanding		49,674		49,274		49,656		49,175
Earnings per share:
Basic	$	1.07	$	0.53	$	2.02	$	1.12
Diluted	$	1.07	$	0.53	$	2.01	$	1.12