Net Income Per Share

12 Months Ended

Dec. 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 fiscal 2024, fiscal 2023, and fiscal 2022.

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 fiscal 2024, fiscal 2023, and fiscal 2022.

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


	Year Ended		Year Ended		Year Ended
	December 28, 2024		December 30, 2023		December 31, 2022
Numerator:
Net income — basic	$	46,653	$	38,481	$	43,619
Less: net income attributable to participating shares	127		136		167
Net income — diluted	$	46,526	$	38,345	$	43,452
Denominator:
Weighted average shares outstanding — basic	6,821		7,008		7,218
Effect of dilutive stock options and restricted stock units	87		110		137
Weighted average shares outstanding — diluted	6,908		7,118		7,355
Net income per share:
Basic	$	6.82	$	5.48	$	6.02
Diluted	$	6.74	$	5.39	$	5.91

Certain share-based awards were anti-dilutive because their exercise price exceeded the average market price over the respective period. The following table presents 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 (in thousands):

Year Ended

December 28,
2024

December 30,
2023

December 31,
2022

Anti-dilutive share-based awards excluded

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