Earnings Per Share

3 Months Ended

Mar. 29, 2025

Basic earnings per share was calculated by dividing our net income by the weighted average number of shares of common stock outstanding during the period, excluding unvested RSAs which are considered to be contingently issuable. To calculate diluted earnings per share, common stock equivalents are added to the weighted average number of common shares outstanding. Common stock equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards.

For the three months ended March 29, 2025, and March 30, 2024, there were approximately 39,000 shares and 319,000 shares, respectively, that were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive.

The following table sets forth the computation of basic earnings per share and diluted earnings per share:


	Three Months Ended
(in thousands, except per share data)	March 29, 2025		March 30, 2024

Net income	$	57,505	$	32,828
Denominator:
Weighted average basic shares outstanding	30,576		31,140
Effect of stock-based compensation awards	234		110
Weighted average diluted shares outstanding	30,810		31,250
Earnings Per Share:
Basic	$	1.88	$	1.05
Diluted	$	1.87	$	1.05