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Basic and Diluted Net Income Per Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Summary of Computation of 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

 

 

Nine Months Ended

 

 

 

September 30, 2022

 

 

October 1, 2021

 

 

September 30, 2022

 

 

October 1, 2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

10,262

 

 

$

6,020

 

 

$

32,902

 

 

$

19,579

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares outstanding

 

 

48,106

 

 

 

47,486

 

 

 

47,919

 

 

 

47,067

 

Less:  Unvested restricted stock

 

 

(4

)

 

 

(3

)

 

 

(4

)

 

 

(3

)

Denominator for basic calculation

 

 

48,102

 

 

 

47,483

 

 

 

47,915

 

 

 

47,064

 

Weighted average effects of potentially diluted common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

1,336

 

 

 

2,013

 

 

 

1,378

 

 

 

2,277

 

Unvested restricted stock

 

 

2

 

 

 

 

 

 

2

 

 

 

6

 

RSUs

 

 

64

 

 

 

86

 

 

 

55

 

 

 

90

 

PSUs

 

 

45

 

 

 

10

 

 

 

21

 

 

 

11

 

Denominator for diluted calculation

 

 

49,549

 

 

 

49,592

 

 

 

49,371

 

 

 

49,448

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.21

 

 

$

0.13

 

 

$

0.69

 

 

$

0.42

 

Diluted

 

$

0.21

 

 

$

0.12

 

 

$

0.67

 

 

$

0.40

 

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2022

 

 

October 1, 2021

 

 

September 30, 2022

 

 

October 1, 2021

 

Stock options

 

 

864

 

 

 

33

 

 

 

865

 

 

 

201

 

Restricted stock, RSUs and PSUs

 

 

2

 

 

 

6

 

 

 

20

 

 

 

3

 

Total

 

 

866

 

 

 

39

 

 

 

885

 

 

 

204