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EARNINGS PER SHARE | 9 Months Ended
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Jun. 29, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | 12. (LOSS) EARNINGS PER SHARE Basic (loss)/income per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. For the nine months ended June 29, 2024, restricted stock were excluded due to the net loss the Company incurred during those periods. The following table reflects a reconciliation of the shares used in the basic and diluted net income per share computation for the three and nine months ended June 29, 2024 and July 1, 2023:
| Three months ended
(in thousands, except per share data) | June 29, 2024 |  | July 1, 2023
| Basic |  | Diluted |  | Basic |  | Diluted
NUMERATOR: |  |  |  |  |  |  |
Net income | $ | 12,264 |  |  | $ | 12,264 |  |  | $ | 4,161 |  |  | $ | 4,161 |
DENOMINATOR: |  |  |  |  |  |  |
Weighted average shares outstanding - Basic | 55,280 |  |  | 55,280 |  |  | 56,553 |  |  | 56,553 |
Dilutive effect of Equity Plans |  |  | 444 |  |  |  |  | 966 |
Weighted average shares outstanding - Diluted |  |  | 55,724 |  |  |  |  | 57,519 |
EPS: |  |  |  |  |  |  |
Net income per share - Basic | $ | 0.22 |  |  | $ | 0.22 |  |  | $ | 0.07 |  |  | $ | 0.07 |
Effect of dilutive shares |  |  | — |  |  |  |  | — |
Net income per share - Diluted |  |  | $ | 0.22 |  |  |  |  | $ | 0.07 |
Anti-dilutive shares(1) |  |  | 21 |  |  |  | 0
| Nine months ended
(in thousands, except per share data) | June 29, 2024 |  | July 1, 2023
| Basic |  | Diluted |  | Basic |  | Diluted
NUMERATOR: |  |  |  |  |  |  |
Net (loss)/income | $ | (81,123) |  |  | $ | (81,123) |  |  | $ | 33,791 |  |  | $ | 33,791 |
DENOMINATOR: |  |  |  |  |  |  |
Weighted average shares outstanding - Basic | 56,028 |  |  | 56,028 |  |  | 56,763 |  |  | 56,763 |
Dilutive effect of Equity Plans |  |  | — |  |  |  |  | 921 |
Weighted average shares outstanding - Diluted |  |  | 56,028 |  |  |  |  | 57,684 |
EPS: |  |  |  |  |  |  |
Net (loss)/income per share - Basic | $ | (1.45) |  |  | $ | (1.45) |  |  | $ | 0.60 |  |  | $ | 0.60 |
Effect of dilutive shares |  |  | — |  |  |  |  | (0.01) |
Net (loss)/income per share - Diluted |  |  | $ | (1.45) |  |  |  |  | $ | 0.59 |
Anti-dilutive shares(1) |  |  | 445 |  |  |  | 1
(1) Represents the Time-based RSUs, Relative TSR PSUs and Growth PSUs that are excluded from the calculation of diluted earnings per share for the three and nine months ended June 29, 2024 and July 1, 2023 as the effect would have been anti-dilutive.

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