v3.26.1
EARNINGS PER SHARE
 6 Months Ended
Jul. 04, 2026
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:
Fiscal quarter endedTwo fiscal quarters ended
July 4, 2026June 28, 2025July 4, 2026June 28, 2025
Weighted-average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding
35,591,295 35,409,988 35,542,362 35,361,039 
Dilutive effect of equity awards8,865 — 5,093 605 
Diluted number of common and common equivalent shares outstanding35,600,160 35,409,988 35,547,455 35,361,644 
Earnings per share:
(dollars in thousands, except per share data)
Basic net income per common share:
Net income $104,958 $446 $119,294 $15,985 
Income allocated to participating securities
(2,846)(231)(3,332)(866)
Net income available to common shareholders$102,112 $215 $115,962 $15,119 
Basic net income per common share$2.87 $0.01 $3.26 $0.43 
Diluted net income per common share:
Net income $104,958 $446 $119,294 $15,985 
Income allocated to participating securities
(2,845)(231)(3,332)(866)
Net income available to common shareholders$102,113 $215 $115,962 $15,119 
Diluted net income per common share$2.87 $0.01 $3.26 $0.43 
Anti-dilutive awards excluded from diluted earnings per share computation(*)
124,246 269,133 134,419 316,202
(*)The anti-dilutive shares excluded from diluted net income per common share primarily relate to out-of-the-money stock options.
The Company grants shares of its common stock in the form of restricted stock awards to certain key employees under the Company’s Amended and Restated Equity Incentive Plan. Prior to vesting of the restricted stock awards, the grant recipients are entitled to receive non-forfeitable cash dividends if the Company declares and pays dividends on the Company’s common stock. Accordingly, unvested shares of the Company’s restricted stock awards are deemed to be participating securities for purposes of computing earnings per share (“EPS”).
Beginning with restricted stock awards granted on or after May 13, 2026, grant recipients are entitled to receive forfeitable cash dividends if the Company declares and pays dividends on its common stock. Any such dividends accrue and are paid to the grant recipient only upon vesting of the underlying shares and are forfeited if the underlying award is forfeited. As a result, unvested restricted stock awards granted on or after May 13, 2026 are not deemed to be participating securities for purposes of computing EPS. Restricted stock awards granted prior to May 13, 2026 continue to be treated as participating securities.