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Net Income Per Share | 3 Months Ended
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Jun. 29, 2024
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding. These potentially dilutive items consist primarily of outstanding stock options and restricted stock grants. The following table details the calculation of basic and diluted earnings per share for the three months ended June 29, 2024 and June 24, 2023 (in thousands, except per share amounts):
| Three Months Ended |  |
| June 29, |  | June 24, |  |  |  |
| 2024 |  | 2023 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 42,095 |  |  | $ | 15,600 |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding | 53,433 |  |  | 54,862 |  |  |  |  |
Effect of dilutive securities | 2,232 |  |  | 1,769 |  |  |  |  |
Weighted average diluted shares | 55,665 |  |  | 56,631 |  |  |  |  |
Basic earnings per share | $ | 0.79 |  |  | $ | 0.28 |  |  |  |  |
Diluted earnings per share | $ | 0.76 |  |  | $ | 0.28 |  |  |  |  |
The weighted outstanding shares excluded from our diluted calculation for the three months ended June 29, 2024 and June 24, 2023 were 259 thousand and 347 thousand, respectively, as the shares were anti-dilutive.

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