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 reconciliation of basic to diluted weighted average common shares outstanding and the calculations for basic earnings (loss) per share and diluted earnings (loss) per share were as follows for the respective reporting:


	Fiscal Three Months Ended
	April 4, 2026		March 29, 2025

Net (loss) income (in thousands)	$	(1,458)	$	2,805

Weighted average common shares outstanding - Basic	7,861,137		8,256,551
Dilutive effect of share-based awards	81,371		71,903
Weighted average common shares outstanding - Diluted	7,942,508		8,328,454

Basic (loss) earnings per share	$	(0.18)	$	0.33
Diluted (loss) earnings per share	$	(0.18)	$	0.33

Weighted-average unvested time-based and market-based restricted stock units (“RSUs”) totaling 83,575 and 24,089 for the fiscal three months ended April 4, 2026 and March 29, 2025, respectively, were not included in the dilutive effect of share-based awards for the respective periods because their effects were antidilutive. For the three months ended April 4, 2026, the denominator in the diluted loss per share calculation does not include the 81,371 dilutive effect of share-based awards since their effect would be antidilutive due to the net loss for the reporting period. Additionally, as of April 4, 2026 and March 29, 2025, a total of 76,983 and 127,174, respectively, of 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.

On October 31, 2023, the Company’s Board of Directors announced a share repurchase program for $100 million. During the fiscal three months ended April 4, 2026, the Company repurchased 59,051 shares of its common stock at a weighted-average price of $50.83, including broker commissions but excluding federal excise tax on the repurchases, for a total of $3.0 million. 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 April 4, 2026, there remained approximately $5.7 million repurchase capacity under the authorization approved October 31, 2023. Subsequent to the balance sheet date, between April 4, 2026 and April 21, 2026, we repurchased an additional 36,749 shares of our common stock at an average price of $54.46 per share, including broker commissions but excluding federal excise tax on the repurchases, for a total of $2.0 million.