EARNINGS PER SHARE ("EPS")

9 Months Ended

Dec. 26, 2020

7. EARNINGS PER SHARE

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


	Three Months Ended				Nine Months Ended
(In thousands, except per share amounts)	December 26, 2020		December 28, 2019		December 26, 2020		December 28, 2019
Basic EPS
Net income	$	31,882	$	29,895	$	90,510	$	58,902
Weighted average shares	50,789		50,630		50,634		50,810
Basic income per share	$	0.63	$	0.59	$	1.79	$	1.16
Diluted EPS
Net income	$	31,882	$	29,895	$	90,510	$	58,902
Basic weighted average shares	50,789		50,630		50,634		50,810
Net effect of common stock equivalents	574		1,008		600		1,185
Diluted weighted average shares	51,363		51,638		51,234		51,995
Diluted income per share	$	0.62	$	0.58	$	1.77	$	1.13

Basic earnings per share is calculated using the Company's weighted-average outstanding common stock. Diluted earnings per share is calculated using its weighted-average outstanding common stock including the dilutive effect of stock awards as determined under the treasury stock method. For the three and nine months ended December 26, 2020, weighted average shares outstanding, assuming dilution, excludes the impact of 0.4 million and 0.6 million anti-dilutive shares, respectively. For both the three and nine months ended December 28, 2019, weighted average shares outstanding, assuming dilution, excludes the impact of 0.2 million anti-dilutive shares.