Note 2 - Net Income Per Share

6 Months Ended

Jun. 27, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Our calculation of the diluted share count includes the number of shares from our equity awards with market conditions or performance conditions that would be issuable under the terms of such awards at the end of the reporting period. For equity awards with a market condition, the number of shares included in the diluted share count as of June 27, 2020 is determined by measuring the achievement of the market condition as of the end of the reporting period. For equity awards with a performance condition, no shares are included in the diluted share count as of June 27, 2020, as vesting of future tranches of these awards is contingent upon achievement of the performance condition over two consecutive trailing four-quarter periods, which has not yet been achieved. See "Note 9 - Stock-Based Compensation" to our consolidated financial statements for further discussion of our equity awards with market conditions or performance conditions.

A summary of basic and diluted Net income per share is presented in the following table:

	Three Months Ended				Six Months Ended
	June 27,		June 29,		June 27,		June 29,
(in thousands, except per share data)	2020		2019		2020		2019
Net income	$	10,629	$	8,559	$	18,796	$	15,967
Shares used in basic Net income per share		134,857		132,206		134,555		131,599
Dilutive effect of stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition		4,345		5,015		4,196		4,534
Shares used in diluted Net income per share		139,202		137,221		138,751		136,133
Basic Net income per share	$	0.08	$	0.06	$	0.14	$	0.12
Diluted Net income per share	$	0.08	$	0.06	$	0.14	$	0.12

The computation of diluted Net income per share excludes the effects of stock options, restricted stock units ("RSUs"), Employee Stock Purchase Plan ("ESPP") shares, and equity awards with a market condition or performance condition that are antidilutive, aggregating approximately the following number of shares:

	Three Months Ended				Six Months Ended
	June 27,		June 29,		June 27,		June 29,
(in thousands)	2020		2019		2020		2019
Stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition excluded as they are antidilutive		579		73		658		210