Basic and Diluted Net Income Per Share

6 Months Ended

Jul. 02, 2021

Note 13 — Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share (in thousands except per share amounts):

	Three Months Ended						Six Months Ended
	July 2, 2021			July 3, 2020			July 2, 2021			July 3, 2020
Numerator:
Net income (loss)	$	8,567		$	(1,172	)	$	13,559		$	(1,306	)
Denominator:
Weighted average common shares:
Common shares outstanding		47,102			45,354			46,861			45,152
Less: Unvested restricted stock		(3	)		—			(3	)		—
Denominator for basic calculation		47,099			45,354			46,858			45,152
Weighted average effects of potentially diluted common stock:
Stock options		2,283			—			2,405			—
Unvested restricted stock		9			—			9			—
RSUs		88			—			90			—
PSUs		12			—			11			—
Denominator for diluted calculation		49,491			45,354			49,373			45,152
Net income (loss) per share:
Basic	$	0.18		$	(0.03	)	$	0.29		$	(0.03	)
Diluted	$	0.17		$	(0.03	)	$	0.27		$	(0.03	)

Because the Company had a net loss for the three and six months ended July 3, 2020, the number of diluted shares is equal to the number of basic shares. The following table sets forth (in thousands) the weighted average number of options to purchase shares of common stock, restricted stock, RSUs and PSUs with either exercise prices or unrecognized compensation cost per share greater than the average market price per share of the Company’s common stock, which were not included in the calculation of diluted per share amounts because the effects would be anti-dilutive.

	Three Months Ended				Six Months Ended
	July 2, 2021		July 3, 2020		July 2, 2021		July 3, 2020
Stock options		14		3,082		173		3,502
Restricted stock, RSUs and PSUs		—		59		—		72
Total		14		3,141		173		3,574