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Earnings Per Share and Stockholders' Equity | 9 Months Ended
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Sep. 27, 2025
Earnings Per Share [Abstract] |
Earnings Per Share and Stockholders' Equity | Earnings Per Share and Stockholders' Equity The Company calculates basic earnings per share by dividing net income for the period by the weighted average number of shares of common stock outstanding for the period. For rounding purposes when calculating earnings per share, the Company’s policy is to round down to the whole cent. Diluted earnings per share are calculated using the treasury stock method whereby net income for the period is divided by the weighted average number of shares of common stock outstanding for the period plus the dilutive effect, if any, of shares of stock associated with unvested share-based grants. However, for performance-based share-based grants, the dilutive effect is included only for grants where the performance goals have been achieved. The reconciliations of basic net income and diluted earnings per common share for the three and nine fiscal months ended September 27, 2025 and September 28, 2024 are as follows:
| Three Fiscal Months Ended |  | Nine Fiscal Months Ended
| September 27, 2025 |  | September 28, 2024 |  | September 27, 2025 |  | September 28, 2024
Net income (in thousands) | $ | 1,655 |  |  | $ | 16,016 |  |  | $ | 8,770 |  |  | $ | 47,844 |
Weighted-average shares outstanding - Basic | 7,887,931 |  |  | 8,496,383 |  |  | 8,026,583 |  |  | 8,622,616 |
Dilutive effect of share-based awards | 58,283 |  |  | 31,927 |  |  | 58,054 |  |  | 24,015 |
Weighted-average shares outstanding - Diluted | 7,946,214 |  |  | 8,528,310 |  |  | 8,084,637 |  |  | 8,646,631 |
Basic earnings per share | $ | 0.20 |  |  | $ | 1.88 |  |  | $ | 1.09 |  |  | $ | 5.54 |
Diluted earnings per share | $ | 0.20 |  |  | $ | 1.87 |  |  | $ | 1.08 |  |  | $ | 5.53 |
Weighted-average unvested time-based, performance-based, and market-based restricted stock units (“RSUs”) totaling 136,277 and 59,218 for the three and nine month fiscal periods ended September 27, 2025, respectively, and 6,299 and 1,644 for the three and nine month fiscal periods ended September 28, 2024, respectively, were not included in the dilutive effect of share-based awards for the respective periods because their effects were antidilutive. Additionally, as of September 27, 2025 and September 28, 2024, a total of 77,703 and 139,654, respectively, of certain unvested performance-based RSUs were outstanding but were not evaluated for potential dilution because their performance metrics had not been achieved as of the end of the respective reporting periods. The dilutive effects for these excluded awards could change in future reporting periods. Repurchases of Common Stock On October 31, 2023, the Company’s board of directors authorized a share repurchase program for $100 million. During the three and nine fiscal months ended September 27, 2025, the Company repurchased 34,427 and 503,556 shares, respectively, of its common stock at a weighted-average average price of $79.59 and $74.97, respectively, including broker commissions but excluding federal excise tax on the repurchases, for a total of $2.7 million and $37.7 million, respectively. These amounts are based on trade date activity, while the amounts reported on the Company’s consolidated statements of cash flows for share repurchases are based on settlement date activity. As of September 27, 2025, there remained approximately $8.7 million repurchase capacity under the authorization approved October 31, 2023. On July 28, 2025, the Company’s board of directors authorized a new share repurchase program for $50 million. The 2025 authorization may be used after exhaustion of the 2023 authorization. Under its share repurchase programs, the Company may repurchase its common stock from time to time, without prior notice, subject to prevailing market conditions and other considerations. Repurchases may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, accelerated share repurchase programs, tender offers or pursuant to a trading plan that may be adopted in accordance with the Securities and Exchange Commission Rule 10b5-1.

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