Earnings Per Share

6 Months Ended

Jun. 28, 2025

NOTE 13. Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock units, employee stock purchase grants and stock options are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive.

The Company’s basic and diluted earnings per share amounts are as follows:


	Three Months Ended				Six Months Ended
	June 28,		June 29,		June 28,		June 29,
	2025		2024		2025		2024
	(in thousands, except for per share data)
Numerator:
Net income	$	33,911	$	52,949	$	98,006	$	99,802
Denominator:
Basic earnings per share - weighted average shares outstanding		48,925		49,342		49,053		49,286
Effect of potential dilutive securities:
Restricted stock units and employee stock purchase grants - dilutive shares		91		332		160		370
Diluted earnings per share - weighted average shares outstanding		49,016		49,674		49,213		49,656
Earnings per share:
Basic	$	0.69	$	1.07	$	2.00	$	2.02
Diluted	$	0.69	$	1.07	$	1.99	$	2.01