Net Income Per Share

3 Months Ended

Apr. 02, 2019

9. Net Income Per Share

Basic net income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, reduced by unvested restricted stock awards. As of both April 2, 2019 and April 3, 2018, 1.8 million shares of restricted stock issued to staff members were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal periods ended on those dates. Diluted net income per share includes the dilutive effect of outstanding equity awards, calculated using the treasury stock method. Shares of common stock equivalents of 2.0 million and 1.7 million for April 2, 2019 and April 3, 2018, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.


	Thirteen		Thirteen
	Weeks Ended		Weeks Ended
	April 2, 2019		April 3, 2018
	(In thousands, except per share data)
Net income	$	26,984	$	26,029

Basic weighted average shares outstanding		44,255		45,552
Dilutive effect of equity awards		729		1,022

Diluted weighted average shares outstanding		44,984		46,574

Basic net income per share	$	0.61	$	0.57

Diluted net income per share	$	0.60	$	0.56