Net Income Per Share

3 Months Ended

Jun. 28, 2025

Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding. These potentially dilutive items consist primarily of outstanding stock options and restricted stock units.

The following table details the calculation of basic and diluted earnings per share for the three months ended June 28, 2025 and June 29, 2024 (in thousands, except per share amounts):


	Three Months Ended
	June 28,		June 29,
	2025		2024
Numerator:
Net income	$	60,697	$	42,095
Denominator:
Weighted average shares outstanding	51,727		53,433
Effect of dilutive securities	1,592		2,232
Weighted average diluted shares	53,319		55,665
Basic earnings per share	$	1.17	$	0.79
Diluted earnings per share	$	1.14	$	0.76

The weighted outstanding shares excluded from our diluted calculation for the three months ended June 28, 2025 and June 29, 2024 were 253 thousand and 259 thousand, respectively, as the shares were anti-dilutive.