Net Income Per Share

3 Months Ended

Jun. 27, 2026

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 equity awards.

The following table details the calculation of basic and diluted earnings per share for the three months ended June 27, 2026 and June 28, 2025 (in thousands, except per share amounts):


	Three Months Ended
	June 27,		June 28,
	2026		2025
Numerator:
Net income	$	76,851	$	60,697
Denominator:
Weighted average shares outstanding	50,550		51,727
Effect of dilutive securities	1,803		1,592
Weighted average diluted shares	52,353		53,319
Basic earnings per share	$	1.52	$	1.17
Diluted earnings per share	$	1.47	$	1.14

The weighted outstanding shares excluded from our diluted calculation for the three months ended June 27, 2026 and June 28, 2025 were 60 thousand and 253 thousand, respectively, as the shares were anti-dilutive.