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NET INCOME PER SHARE
 6 Months Ended
Nov. 29, 2024
Net income (loss) per share:  
NET INCOME PER SHARE

11. NET INCOME (LOSS) PER SHARE

 

Basic net income (loss) per share is determined using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is determined using the weighted average number of common shares and potential common shares (representing the hypothetical number of incremental shares issuable under the assumed exercise of outstanding stock options, and vesting of outstanding RSUs and ESPP shares) during the period using the treasury stock method. The calculation of dilutive shares outstanding excludes securities that would have an antidilutive effect on net income per share.

The following table presents the computation of basic and diluted net income (loss) per share: 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

November 29,

 

 

November 30,

 

 

November 29,

 

 

November 30,

 

(In thousands, except per share data)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$(1,028)

 

$6,089

 

 

$(368)

 

$10,763

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

29,659

 

 

 

28,801

 

 

 

29,383

 

 

 

28,725

 

Dilutive effect of common equivalent shares outstanding

 

 

-

 

 

 

968

 

 

 

-

 

 

 

975

 

Diluted weighted average shares outstanding

 

 

29,659

 

 

 

29,769

 

 

 

29,383

 

 

 

29,700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share - Basic

 

$(0.03)

 

$0.21

 

 

$(0.01)

 

$0.37

 

Net income (loss) per share - Diluted

 

$(0.03)

 

$0.20

 

 

$(0.01)

 

$0.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive employee share-based awards, excluded

 

 

1,747

 

 

 

9

 

 

 

1,622

 

 

 

4