Earnings Per Share

6 Months Ended

Jun. 28, 2025

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


	Three Months Ended				Six Months Ended
(in thousands, except per share amounts)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
Numerator:
Net income as reported	$	57,342	$	45,466	$	100,913	$	93,918

Denominator:
Weighted average shares outstanding
Basic	24,755		24,822		24,760		24,867
Effect of dilutive securities	150		208		178		208
Diluted	24,905		25,030		24,938		25,075

Earnings Per Share:
Basic earnings per share	$	2.32	$	1.83	$	4.08	$	3.78
Diluted earnings per share	$	2.30	$	1.82	$	4.05	$	3.75

Potential shares of common stock attributable to performance share units, stock options and restricted stock units excluded from the earnings per share calculation because their effect would be anti-dilutive were 429,709 and 141,729 for the three months ended June 28, 2025 and June 29, 2024, respectively, and 347,711 and 129,096 for the six months ended June 28, 2025 and June 29, 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. The Company did not repurchase any shares of its common stock for the three months ended June 28, 2025. During the six months ended June 28, 2025, the Company repurchased 120,689 shares of its common stock totaling $27.4 million pursuant to the 2024 program. During the three and six months ended June 29, 2024, the Company repurchased 109,031 and 179,311 shares of its common stock totaling $24.7 million and $40.9 million, respectively, of which $38.9 million was pursuant to the 2021 program and $2.0 million was pursuant to the 2024 program.