Earnings Per Share

3 Months Ended

Mar. 29, 2025

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


	Three Months Ended
(in thousands, except per share amounts)	March 29, 2025		March 30, 2024
Numerator:
Net income as reported	$	43,571	$	48,452

Denominator:
Weighted average shares outstanding
Basic	24,767		24,911
Effect of dilutive securities	196		213
Diluted	24,963		25,124

Earnings Per Share:
Basic earnings per share	$	1.76	$	1.95
Diluted earnings per share	$	1.75	$	1.93

Potential shares of common stock attributable to stock options and restricted stock units excluded from the earnings per share calculation because their effect would be anti-dilutive were 340,710 and 175,411 for the three months ended March 29, 2025 and March 30, 2024, respectively.

Share Repurchase Program

On April 25, 2024, the Company's Board of Directors authorized a three-year program to repurchase up to $300.0 million in the aggregate of shares of the Company's stock for the period from May 1, 2024 to April 30, 2027 ("2024 program") to replace its previous 2021 program. During the three months ended March 29, 2025, the Company repurchased 120,689 shares of its common stock totaling $27.4 million pursuant to the 2024 program. During the three months ended March 30, 2024, the Company repurchased 70,280 shares of its common stock totaling $16.1 million pursuant to the 2021 program.