Net Income Per Share

9 Months Ended

Sep. 28, 2024

CRA calculates basic earnings per share using the two-class method. CRA calculates diluted earnings per share using the more dilutive of either the two-class method or treasury stock method. The two-class method was more dilutive for the fiscal quarters and fiscal year-to-date periods ended September 28, 2024 and September 30, 2023.

Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all the net earnings for the period had been distributed. CRA's participating securities consist of unvested share-based payment awards that contain a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders. Net earnings allocable to these participating securities were not material for the fiscal quarters and fiscal year-to-date periods ended September 28, 2024 and September 30, 2023.

The following table presents the calculation of basic and diluted net income per share (in thousands, except per share data):


	Fiscal Quarter Ended				Fiscal Year-to-Date Period Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Numerator:
Net income — basic	$	11,437	$	8,596	$	31,666	$	27,022
Less: net income attributable to participating shares	25		29		94		98
Net income — diluted	$	11,412	$	8,567	$	31,572	$	26,924
Denominator:
Weighted average shares outstanding — basic	6,760		6,977		$	6,840	$	7,026
Effect of dilutive stock options and restricted stock units	83		106		82		112
Weighted average shares outstanding — diluted	6,843		7,083		6,922		7,138
Net income per share:
Basic	$	1.68	$	1.22	$	4.62	$	3.83
Diluted	$	1.67	$	1.21	$	4.57	$	3.78

For the fiscal quarter and fiscal year-to-date period ended September 28, 2024, the anti-dilutive share-based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average outstanding shares amounted to 4,900 and 1,225 shares, respectively. For the fiscal quarter and fiscal-year-to-date period ended September 30, 2023, the anti-dilutive share-based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding amounted to 6,185 and 5,875 shares, respectively.