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 ended March 29, 2025 and March 30, 2024.

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 ended March 29, 2025 and March 30, 2024.

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


	Fiscal Quarter Ended
	March 29, 2025		March 30, 2024
Numerator:
Net income — basic	$	18,002	$	13,691
Less: net income attributable to participating shares	47		46
Net income — diluted	$	17,955	$	13,645
Denominator:
Weighted average shares outstanding — basic	6,775		6,926
Effect of dilutive stock options and restricted stock units	87		85
Weighted average shares outstanding — diluted	6,862		7,011
Net income per share:
Basic	$	2.65	$	1.97
Diluted	$	2.62	$	1.95

Anti-dilutive share-based awards are excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding. There were no anti-dilutive share-based awards for the fiscal quarters ended March 29, 2025 and March 30, 2024.