Net Income Per Share

6 Months Ended

Sep. 27, 2025

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

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 and six months ended September 27, 2025 and September 28, 2024 (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	September 27,		September 28,		September 27,		September 28,
	2025		2024		2025		2024
Numerator:
Net income	$	131,596	$	102,140	$	192,293	$	144,235
Denominator:
Weighted average shares outstanding	51,175		53,275		51,451		53,354
Effect of dilutive securities	1,879		2,525		1,744		2,399
Weighted average diluted shares	53,054		55,800		53,195		55,753
Basic earnings per share	$	2.57	$	1.92	$	3.74	$	2.70
Diluted earnings per share	$	2.48	$	1.83	$	3.61	$	2.59

The weighted outstanding shares excluded from our diluted calculation for the three and six months ended September 27, 2025 were 65 thousand and 252 thousand, respectively, as the shares were anti-dilutive. The weighted outstanding shares excluded from our diluted calculation for the three and six months ended September 28, 2024 were 8 thousand and 229 thousand, respectively, as the shares were anti-dilutive.