Note 2 - Net Income (Loss) Per Share

12 Months Ended

Jan. 02, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 2 - Net Income (Loss) Per Share

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 maximum number of shares issuable are included in the diluted share count as of January 2, 2021, as the market condition would have been achieved at the highest level of vesting if measured 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 January 2, 2021, 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 10 - Stock-Based Compensation Plans" to our consolidated financial statements for further discussion of our equity awards with market or performance conditions.

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

 

	Year Ended
	January 2,		December 28,		December 29,
(in thousands, except per share data)	2021		2019		2018
Net income (loss)	$	47,392	$	43,493	$	(26,322	)
Shares used in basic Net income (loss) per share		135,220		132,471		126,564
Dilutive effect of stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition		6,056		4,803		—
Shares used in diluted Net income (loss) per share		141,276		137,274		126,564
Basic Net income (loss) per share	$	0.35	$	0.33	$	(0.21	)
Diluted Net income (loss) per share	$	0.34	$	0.32	$	(0.21	)

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

	Year Ended
	January 2,		December 28,		December 29,
(in thousands)	2021		2019		2018
Stock options, RSUs, ESPP shares, and equity awards with a market condition or performance condition excluded as they are antidilutive		316		890		7,567