v3.25.1
EARNINGS PER SHARE
6 Months Ended
Mar. 29, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE 12. EARNINGS PER SHARE
Basic income per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. For the three and six months ended March 29, 2025 and March 30, 2024, restricted stock were excluded due to the net loss the Company incurred during the period.
The following table reflects a reconciliation of the shares used in the basic and diluted net loss per share computation for the three and six months ended March 29, 2025 and March 30, 2024:
 Three months ended
(in thousands, except per share data)March 29, 2025March 30, 2024
 BasicDilutedBasicDiluted
NUMERATOR:    
Net loss
$(84,519)$(84,519)$(102,680)$(102,680)
DENOMINATOR:    
Weighted average shares outstanding - Basic53,311 53,311 56,154 56,154 
Dilutive effect of Equity Plans— — 
Weighted average shares outstanding - Diluted  53,311  56,154 
EPS:    
Net loss per share - Basic
$(1.59)$(1.59)$(1.83)$(1.83)
Effect of dilutive shares —  — 
Net loss per share - Diluted
 $(1.59) $(1.83)
Anti-dilutive shares(1)
249416
 Six months ended
(in thousands, except per share data)March 29, 2025March 30, 2024
 BasicDilutedBasicDiluted
NUMERATOR:    
Net loss
$(2,877)$(2,877)$(93,387)$(93,387)
DENOMINATOR:    
Weighted average shares outstanding - Basic53,551 53,551 56,402 56,402 
Dilutive effect of Equity Plans — 
Weighted average shares outstanding - Diluted  53,551  56,402 
EPS:    
Net loss per share - Basic
$(0.05)$(0.05)$(1.66)$(1.66)
Effect of dilutive shares —  — 
Net loss per share - Diluted
 $(0.05) $(1.66)
Anti-dilutive shares(1)
285412
(1) Represents the Time-based RSUs, Relative TSR PSUs and Growth PSUs that are excluded from the calculation of diluted earnings per share for the three and six months ended March 29, 2025 and March 30, 2024 as the effect would have been anti-dilutive.