EARNINGS PER SHARE

12 Months Ended

Apr. 03, 2021

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.


(In thousands, except per share amounts)	2021		2020		2019
Basic EPS
Net income	$	79,469	$	76,526	$	55,019
Weighted average shares	50,688		50,692		51,533
Basic income per share	$	1.57	$	1.51	$	1.07
Diluted EPS
Net income	$	79,469	$	76,526	$	55,019
Basic weighted average shares	50,688		50,692		51,533
Net effect of common stock equivalents	604		1,123		1,409
Diluted weighted average shares	51,292		51,815		52,942
Diluted income per share	$	1.55	$	1.48	$	1.04

Basic earnings per share is calculated using the Company's weighted-average outstanding common shares. Diluted earnings per share is calculated using its weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method and the convertible senior notes as determined under the net share settlement method. From the time of the issuance of the convertible senior notes, the average market price of the Company's common shares has been less than the initial conversion price, and consequently no shares have been included in diluted earnings per share for the conversion value of the convertible senior notes. For fiscal 2021, 2020 and 2019, weighted average shares outstanding, assuming dilution, excludes the impact of 0.5 million, 0.2 million and 0.2 million anti-dilutive shares, respectively.

Share Repurchase Plan

In May 2019, the Company's Board of Directors authorized the repurchase of up to $500 million of Haemonetics common shares over the two year period ending May 2021. As of April 3, 2021, the total remaining authorization for repurchases of the Company's common stock under the share repurchase program was $325.0 million. The Company did not make any additional share repurchases under this program which expired in May 2021.